SIM VSE is a broker intermediated exchange. The role of Exchange Brokers is therefore pivotal to the operation of the exchange.
Becoming a SIM VSE Broker will enable your firm to establish valuable new relationships in our global community of investors and companies, giving you the opportunity to grow your business and company profile in parallel with the Exchange.
As a SIM VSE Broker your firm will have the opportunity to partner with the exchange in exclusively branded marketing opportunities highlighting your position in the Cleantech and renewable energy capital sector, and to promote your firm via the SIM VSE Broker Directory referral service.
Exchange Brokers can use the SIM VSE Broker Seal on their web site and marketing materials as a symbol of their association with the Exchange.
Eligibility
To be eligible to become recognised as a SIM VSE Broker, a company applicant must:
- be the holder of an appropriately authorised Australian Financial Services License (AFSL);
- satisfy SIM VSE that it has the required financial resources to meet its obligations as an Exchange Broker;
- have a constitution which contains provisions requiring ongoing compliance with the SIM VSE Business Rules and authorises the applicant to obtain information from its members that may be required under the Corporations Law.
Depending on the size of the company, one or more directors must:
- satisfy SIM VSE that they have been employed for at least two years in a stockbroking capacity;
- satisfy SIM VSE that they have completed the relevant tertiary qualifications;
- undertake to complete any subjects conducted by Financial Services Institute of Australia ("FINSIA") Education [add link] that are prescribed by SIM VSE from time to time;
- not be an insolvent under administration;
- be of good character and high business integrity; and
- satisfy SIM VSE that they will devote a substantial amount of time each week working as a Broker.
Connectivity
Firms can connect directly to the Exchange's markets. The Exchange currently offers several types of connectivity options with varying levels of management and performance. Each firm will have different requirements and we can help you choose the right form of access for your firm.
Clearing and Settlement
If you choose to connect directly to the Exchange you will need to have in place appropriate clearing and settlement arrangements. Members of SIM VSE benefit from an efficient and competitive clearing infrastructure. SIM VSE can facilitate introductions with accredited clearing and settlement providers. For a list of these providers please contact the Exchange.
International Brokers
Brokers domiciled outside of Australia generally may participate in SIM VSE in one of two ways; either as a holder of an Australian Financial Services License (AFSL) with an Australian director or agent, or alternatively, by entering into an arrangement with an existing SIM VSE Broker for trade execution and settlement. [Note that this is a Corporations Law requirement rather than a discretionary position of the exchange.]
Next Steps
If you're thinking about becoming a Broker please contact our Broker Office, who will be able to talk you through the benefits and key considerations for your firm.
- Email the Broker Office brokeroffice@simvse.com.au or call +61 (2) 9241 2740
- Gain an understanding of the initial and ongoing requirements
- Carry out any work required to satisfy the requirements
- Complete the Broker Application Form and any other required documents. Our Broker Office can assist with the required forms and advise you on completing them.
