A company, registered under Chapter 2A of the Corporations Act 2001, operates a financial services facility, including a website. On the website various licensed dealers indicate their willingness to deal in certain financial products and/or provide firm prices for financial products. Using the facility, investors viewing the site may submit a price enquiry on a financial product listed on the site. The investor’s price enquiry and contact details are then forwarded to all dealers in the facility who have indicated their willingness to deal in the relevant financial product. Any dealer may then contact the investor, and negotiations take place between the dealer and investor. Alternatively, investors viewing the site can click on a dealer’s firm price posted on the site. The dealer is then notified of the investor’s interest and can contact the investor to negotiate a contract. In both the situations described above, contracts are negotiated directly between the investor and the dealer, and the dealer is entitled to withdraw offers or invitations made through the website if not satisfied about the ability of the investor to settle the transaction.
Does the company require an Australian market licence? (15 Marks)