ASIC convened industry leaders to discuss Australian capital market competitiveness, focusing on tokenisation, AI, infrastructure resilience and responsible innovation.
ASIC Convenes Industry Roundtable on Capital Market Innovation
On June 30, 2026, the Australian Securities and Investments Commission (ASIC) announced that it had convened a roundtable with market and financial services industry leaders to discuss how to strengthen the competitiveness of Australia’s capital markets. The meeting forms part of ASIC’s work to promote the vitality of Australia’s public and private markets, with a focus on financial market innovation, market infrastructure modernization, and collaboration between regulators and industry.
ASIC said that global capital flows, the cross-border nature of financial products and the application of technology are changing the competitive landscape of markets. As investors gain easier access to overseas markets, Australia will need safer, more resilient and more modern market infrastructure if it wants to continue attracting capital, supporting corporate financing and maintaining market efficiency.
(Source: ASIC,26-138MR ASIC pushes for coordinated action to strengthen competitiveness of Australian markets, released on 2026-06-30, statements on the roundtable, capital market competitiveness and industry collaboration.)
Meeting Focuses on Public and Private Market Vitality
ASIC’s roundtable builds on its earlier roadmap for the vitality of Australia’s capital markets. In November 2025, ASIC released a roadmap to promote strong, efficient and globally competitive public and private markets. The June 30, 2026 meeting further shifted the discussion toward innovation implementation, infrastructure upgrades and regulatory action.
Participants included market institutions, financial services industry representatives, and senior leaders from the public and private sectors.
The discussion focused on how Australia’s capital markets can adopt new technologies under safe conditions.
ASIC will focus on how innovation can support capital formation, corporate financing and market efficiency.
ASIC said it will later publish a summary report on the roundtable themes and specific actions.
REP 835 Says Financial Market Innovation Is Accelerating
Report 835,Innovation in Financial Markets and Financial Market Infrastructure, prepared for ASIC by the Digital Finance Cooperative Research Centre (DFCRC), stated that innovation in financial markets and market infrastructure is advancing at a pace faster than historical norms. The report attributed this change to the early adoption of several technologies, including distributed ledger technology (DLT), asset tokenisation and artificial intelligence (AI).
The report said these technologies are changing how assets are issued, traded, settled and held, while expanding the range of tradable instruments and changing how investors access markets and make decisions. The boundaries between traditional exchanges, post-trade infrastructure providers, technology platforms and crypto-native trading venues are also becoming increasingly blurred.
(Source: ASIC / DFCRC,REP 835 Innovation in Financial Markets and Financial Market Infrastructure, released in 2026-06, Executive summary, statements on DLT, asset tokenisation, AI and changes in market structure.)
Four Types of Changes Affect Market Structure
REP 835 summarizes financial market innovation into interconnected areas, showing that technological changes affect not only a single product, but also core market functions such as trading, clearing, settlement, custody and recordkeeping.
Asset forms are evolving. After real-world assets are tokenised, asset recording, transfer and trading methods change.
Market architecture is changing. Some DLT-based platforms tend to integrate trading, clearing, settlement, custody and recordkeeping functions.
Market participation methods are changing. Automation tools and AI systems are entering the workflows of traders, market participants and market operators.
Demand for regulatory technology is rising. Regulators need to adapt to machine-speed trading, automated monitoring and cross-market risk transmission.
Australia Faces Global Competitive Pressure
ASIC Commissioner Simone Constant said ASIC’s core mission is to promote and improve Australia’s financial system and encourage the public to participate in that system confidently and with informed judgment. She said ensuring that Australia’s financial markets remain competitive and efficient is a key part of that mission.
“ASIC’s core mission is to promote and improve Australia’s financial system and encourage the public to participate in that system confidently and with informed judgment. Ensuring that Australia’s financial markets remain competitive and efficient is central to that mission.”
Constant said technological developments are weakening the geographic barriers that once restricted capital flows. Investors, whether wholesale or retail, can access overseas markets more easily than before. ASIC believes this trend means Australia’s capital markets must strengthen their ability to attract capital, allocate capital and serve corporate growth.
(Source: ASIC,26-138MR ASIC pushes for coordinated action to strengthen competitiveness of Australian markets, released on 2026-06-30, Simone Constant’s comments on competitiveness, market efficiency and changes in geographic barriers.)
Technology Company Listing Trends Intensify Cross-Border Competition
ASIC noted in the announcement that current large-scale technology company initial public offerings (IPO) reflect the globalization trend in capital markets. For Australia, capital market competition no longer takes place only between local trading venues, but also between different jurisdictions, different market infrastructures and different financing ecosystems.
This means that if Australia’s capital markets cannot keep pace with global changes in trading efficiency, settlement efficiency, product innovation, regulatory clarity and infrastructure resilience, companies and investors may turn to other markets that are more liquid, more convenient or more innovative.
Key Timeline and Event Developments
| Date | Institution | Event | News Significance |
|---|---|---|---|
| July 10, 2025 | RBA, DFCRC, ASIC | Project Acacia announced participants, with ASIC providing regulatory facilitation for tokenised asset settlement research | Supported testing of Australia’s wholesale tokenised asset market |
| November 2025 | ASIC | Released a roadmap to promote the competitiveness of public and private markets | Established the reform direction for capital market vitality |
| April 2026 | ASIC | Released the final investigation report on ASX Group governance, capability and risk management | Emphasized the stability and resilience of critical market infrastructure |
| June 30, 2026 | ASIC, DFCRC | Released REP 835 and held a capital market innovation roundtable | Promoted modernization and safe innovation in Australia’s market infrastructure |
Tokenisation and AI Become Key Regulatory Discussion Points
REP 835 shows that standard-setting bodies, governments and regulators in several major jurisdictions are adjusting market frameworks to adapt to changes brought by DLT, tokenised assets, AI and improvements in information technology systems. The report covers markets such as the United States, Canada, the United Kingdom, the European Union, Switzerland, Hong Kong, China and Singapore, and focuses on analyzing global capital market innovation trends over the past decade.
The report noted that tokenisation does not only change how assets are held, but may also change the functions of financial instruments themselves. For example, tokenisation may embed compliance requirements, automate asset servicing and support near-real-time collateral substitution. At the same time, AI and machine-speed trading tools are improving market operating efficiency, while also placing higher demands on regulatory monitoring, market fairness and operational resilience.
(Source: ASIC / DFCRC,REP 835 Innovation in Financial Markets and Financial Market Infrastructure, released in 2026-06, Executive summary and What is changing sections, statements on seven jurisdictions, tokenisation, AI and market infrastructure changes.)
Opportunities and Risks Are Rising at the Same Time
ASIC’s announcement shows that financial market innovation may improve capital efficiency, operational efficiency and market surveillance capabilities, but it may also introduce new concentration risks, retail investor risks and cyber resilience pressures.
In terms of opportunities, modernized market infrastructure can shorten settlement cycles and improve capital efficiency.
In terms of regulation, automated monitoring and coordination across regulators can help respond to faster market activity.
For businesses, clear regulatory pathways can help firms test and implement new products.
In terms of risks, concentration among external service providers, gamified trading, social trading and cyberattacks may increase market vulnerabilities.
ASIC Emphasizes Responsible Innovation
Constant said the roundtable was not about innovation for innovation’s sake. ASIC’s role is to provide the necessary clarity for responsible innovation, while setting safeguards to maintain stable and orderly markets, and ensuring that infrastructure operators supporting market operations remain accountable and competitive.
“Today’s roundtable is not about innovation for innovation’s sake. The Australian Securities and Investments Commission’s role is to provide the clarity needed for responsible innovation and to establish safeguards for stable and orderly markets.”
From a regulatory perspective, ASIC has not positioned innovation and investor protection as opposing objectives. Instead, it is discussing market efficiency, market integrity, infrastructure resilience and investor protection within the same framework. For Australia’s capital markets, the next priorities will be which innovations can be implemented first, how regulators can provide clear pathways, and how industry participants can assume the corresponding responsibilities.
(Source: ASIC,26-138MR ASIC pushes for coordinated action to strengthen competitiveness of Australian markets, released on 2026-06-30, statements on roundtable objectives, responsible innovation and the subsequent summary report.)
Follow-Up Actions Will Depend on Roundtable Outcomes
ASIC said it will publish a summary report on the roundtable themes and practical actions. The discussion will focus on the priorities ASIC can and should take, especially how to promote innovation through safe growth. The summary report will become an important document for observing the next stage of regulatory action in the modernization of Australia’s capital markets.
Questions About ASIC Capital Market Innovation
What was the main focus of ASIC’s roundtable?
The meeting mainly discussed how Australia’s capital markets can improve competitiveness, including market infrastructure modernization, tokenised assets, AI applications, regulatory clarity and safe innovation.
Which technological changes does REP 835 focus on?
REP 835 focuses on DLT, asset tokenisation, AI and improvements in information technology systems, and analyzes how these technologies affect asset issuance, trading, settlement, custody and market regulation.
Why does ASIC emphasize that Australia needs to accelerate action?
ASIC believes capital flows and financial products are becoming increasingly globalized, while other jurisdictions are also adjusting their market frameworks. If Australia’s market infrastructure and regulatory pathways fail to keep pace with change, capital market competitiveness may be weakened.
Does this meeting only focus on fintech companies?
No. The meeting focuses on Australia’s overall capital markets, including trading venues, clearing and settlement, market infrastructure, traditional financial institutions, technology platforms, regulators and investor protection.
