Australian market participants hoping that the country’s incumbent clearer might be about to face some competition have been dealt another blow, after a report published yesterday suggested there was little need to open up the clearing market because post-trade costs in the country are already in line with global peers.

Questions remain, however, over whether the report tells the full story. The report was commissioned by the Australian Securities Exchange - which owns ASX Clear, Australia's only equities clearing house - and was limited in scope.