The operator of the Australian share market, ASX Limited, will continue to retain its monopoly over clearance and settlement procedures in the domestic equities market.
Clearance and settlement is the backroom process by which trades which have been agreed on the market are finalised, with money changing hands in exchange for the shares or other securities purchased.
While the ASX faces competition from Chi-X for share trading, it currently retains the sole licence to settle the trades on all the Australian exchanges.
The Federal Treasurer, Wayne Swan has accepted the advice of the Council of Financial Regulators to delay a decision on whether the stock exchange should continue to hold the sole responsibility for backroom market transactions.
A decision on any licence application from a rival trading platform, such as Chi-X, to provide an equities clearing facility has been deferred for two years.
The ASX has been given six months to consult with industry and develop a code of practice to minimise any negative effects from its monopoly.
The exchange's managing director Elmer Funke Kupper has welcomed the decision.
"Australia's clearing and settlement infrastructure for cash equities is efficient, well-capitalised and well-regulated," he said in a statement.
"ASX will work with industry stakeholders to develop a code of practice for its clearing and settlement services, and is committed to deliver a world-class financial infrastructure for Australia."