About AFMA
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About AFMAThe Australian Financial Markets Association (AFMA) is the leading industry association promoting efficiency, integrity and professionalism in Australia’s financial markets and provides leadership in advancing the interests of all market participants. These markets are an integral feature of the economy and perform the vital function of facilitating the efficient use of capital and management of risk. Market participants perform a range of important roles within these markets, including financial intermediation and market making. The dynamic financial markets in Australia reflect many years of innovation and development, and are among the fastest growing and most sophisticated in Asia. Australia’s financial markets collectively turned over more than $95 trillion in 2008-09. The major markets in the Australian financial system include the capital markets (shares and bonds), money market and derivatives market. There are also other markets in the financial system that facilitate the trading of specific financial products such as electricity. AFMA represents over 130 members, including Australian and international banks, leading brokers, securities companies, state government treasury corporations, fund managers, traders in electricity and other specialised markets and industry service providers. Promoting Market Efficiency Market Governance AFMA’s key mandate is to promote best practice in financial markets so they can continue to maximise their contribution to the economic health of Australia. One of the key tasks we perform to achieve this objective is to ensure the sound management of Australia's $70 trillion off-exchange or over-the-counter (OTC) markets. We achieve this by promoting effective self-regulation of the OTC markets through efficient and ethical market practices, conventions and standard documentation. Financial Operations AFMA's market governance role is complemented by the development of widely-accepted industry standards for transactional processing. This ensures that operational aspects of financial transactions, in particular confirmation, settlement, reconciliation and risk management processes are globally-recognised best practice. Promoting Market Integrity AFMA recognises the importance of efficient regulation to inspire investor confidence in our markets, and in this regard plays a leading role in providing industry input to the government and regulators on public policy matters relevant to the financial markets. We seek to ensure that government regulation of the financial sector is firm enough to inspire investor confidence yet flexible enough to allow the markets to grow to their full potential. Promoting Market Professionalism AFMA encourages high standards of professional conduct in financial markets by delivering professional development and accreditation programs to improve individual expertise in OTC and exchange-traded markets. AFMA accords accreditation, recognised by the markets regulator ASIC, to individuals who achieve the required levels of competence. AFMA's Mission To advance the interests of our members, AFMA's mission is to:
AFMA promotes the interests of our members through: |
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