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Australia says will allow competition for the ASX's cash-clearing activities

[SYDNEY] Australian Treasurer Scott Morrison said on Wednesday that he will introduce laws intended to end the Australian Securities Exchange Ltd's monopoly on equities cash-clearing activities and allow competition.

Morrison also said he will relax a law limiting individual shareholdings of the ASX to 15 per cent, allowing the treasurer to approve larger shareholdings in the country's biggest securities exchange.

REUTERS

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