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Association ( ACSA ) kindly compiles industry statistics on a bi-annual basis and over the past 12 months assets under custody for foreign clients increased from AU $ 1.8 trillion to over $ 2.1 trillion . For the only provider featured in this Oceania section – BNP Paribas – its sub-custody assets grew 13.4 % over the period of December 2023-June 2024 . The bumpy ride that has been the Australian stock exchange ’ s ( ASX ) posttrade replacement continued to rumble on again over the past year . The most recent update on the matter was the Australian Securities and Investments Commission ( ASIC ) opening proceedings against the ASX for allegedly making misleading statements related to the replacement project of its clearing and settlement systems ( CHESS ). In some progressive news though , ASX did announce that it is set to replace its cash equities clearing and settlement platform with Tata Consultancy Services ’ ( TCS ) platform , a proactive step in overhauling the post-trade offering after its six-year long blockchain ambitions came to an abrupt end in 2022 . First announced in 2016 , following years of delays , ambiguity and market criticism , ASX abandoned the project

in November 2022 . In the new lawsuit , ASIC alleges statements made in ASX announcements on 10 February 2022 that the project remained “ on-track for go-live ” in April 2023 and was “ progressing well ” were misleading . When it comes to the regional score – which encompasses New Zealand as well – there has been a slight downward shift in Oceania ’ s overall regional mark , though still remains strong at 5.21 . Relationship Management ( 5.74 ) received the highest score , followed by Account Management at 5.70 .

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Respondent Priorities Client Service Relationship Management Asset Servicing Account Management Pricing Cash Management and FX Asset Safety and Risk Management Regulation and Compliance Technology Data Services Liquidity Management Service Innovation Securities Lending

While Securities Lending has received the lowest score this year , this category is sits in one of the lower slots when it comes to what a client considers to be most important . What is particularly noteworthy is that Account Management ( 5.70 ) has seen the largest uptick in ratings since 2023 , jumping 20 basis points .

84 Global Custodian Fall 2024