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Government mandates competition in eConveyancing by December 2025
31 January 2024 – Today, ARNECC published the newest version of the Model Operating Requirements (MOR), a regulation governing the industry, to require ELNOs to be ready for full interoperability for key documents by 31 December 2025.
For the first time ELNOs will be required to build, design, and test for full interoperability by a mandated date, with NSW and QLD being the first States to implement these competition reforms. This will mean millions of dollars of innovation, service and value benefits to small businesses and customers every year.
Sympli acknowledges the overwhelming support from the industry and government for the December 2025 release dates – which are grounded in sound foundations including comprehensive analysis and reviews undertaken by ARNECC over the last 5 years. A mandated date will help drive stakeholder engagement and will unlock the challenges faced in the interoperability program.
Under other changes in the MOR, ELNOs will also have a regulatory obligation to preserve an equivalent standard of performance within their network to provide certainty to their subscribers. Sympli hears and acknowledges that subscribers want equivalence of experience within their network of choice, and we support the changes to the MOR to recognise this.
Sympli Chief Executive Officer, Philip Joyce, said: “Having mandated dates means that competition is right around the corner for small businesses, industry and consumers across the country.
Now the focus should shift to keeping the reform timeframe on track to deliver benefits to customers. Sympli is committed to continuing its collaboration across the industry. We look forward to further uplift in execution, including enforcement of milestones to hold networks to account for delivery and quality.”
“We are confident that these network regulatory obligations in the MOR will give industry stakeholders the certainty they need and create even more momentum within the Interoperability Delivery Program.”
Media Inquiries: Jerome Boutelet, Public Affairs Manager at
About Sympli
Sympli is the result of a collaboration between InfoTrack and ASX. We want to create more opportunity, add value and represent the market with an e-Settlements service from which practitioners across Australia can benefit.
InfoTrack is Australia’s leading provider of eConveyancing technology and services and has been creating software for the legal and financial industries for over 18 years. InfoTrack has a focus on simple, end to end solutions, leveraging expertise to craft a truly integrated e-settlements platform that you can trust.
As one of the world’s leading financial exchanges, the ASX bring experience in clearing and settling transactions with security, speed, reliability, and cutting-edge technology. The combination of the two bring you Sympli: the next generation e-settlements solution delivering healthy competition, reliability, security and value to the industry. For more information visit www.sympli.com.au
