Speaking at a media briefing in Sydney last week, ASX senior manager for funds and investments performance, Marcus Christoe, said SMSFs are likely to be the "biggest opportunity" for the new settlement service.

"We’re looking to provide an additional mechanism to reach a group of investors that haven't been reached in a way that provides a similar mechanism to how they’re used to transact," said Mr Christoe.

Speaking to SMSF Adviser’s sister publication ifa, Santi Burridge, managing director at Implemented Portfolios, said the mFund Settlement Service will benefit SMSF investors, who have traditionally used the ASX just to trade equities.

“This development will allow [SMSFs] to build more diversified risk-managed portfolios which should lead to better long-term investment outcomes,” he said.