Am I covered by the National Guarantee Fund for Australian trading?
The National Guarantee Fund (NGF) is a compensation fund administered by the Securities Exchanges Guarantee Corporation (SEGC), that is available to meet certain valid claims which may arise from dealings with market participants of ASX and Chi-X.
Superhero, as a client of a market participant, may be able to make a claim to the SEGC in certain limited circumstances for failures of its market participant, including insolvency of the market participant.
Superhero is not a market participant and Superhero’s customers are not able to make a claim to the SEGC.
Importantly, caps apply to any NGF claims that may be made by Superhero that may impact the outcome and customer expectations regarding any claim.
You can find more information on caps and circumstances under which a claim by Superhero is permitted at https://www.segc.com.au/ in the ‘NGF Information Booklet’.