Deutsche Bank AG, which is in the process of transferring its prime brokerage operations to BNP Paribas SA, and closely held Susquehanna International Group are the dominant external market makers for ETFs in Australia.

BlackRock, the world’s largest provider of ETFs, doesn’t offer any active ETFs in Australia because of the “internal market making model,” said Christian Obrist, head of BlackRock’s iShares business in Australia.

“We didn’t get involved in Australia in active ETFs because at the time we didn’t feel comfortable with the regulatory framework around the market-making model,” Obrist told a briefing in Sydney, adding he welcomed the ASIC review as the Australian market expands and matures.

This article was provided by Bloomberg News.

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