(Adds treasurer quote, ASX response)
SYDNEY, March 30 (Reuters) - Australian Treasurer Scott Morrison said on Wednesday that he will introduce laws intended to end the Australian Securities Exchange Ltd's ASX.AX monopoly on equities cash-clearing activities and allow competition.
Morrison also said he would relax a law that limits individual shareholdings in the ASX to 15 percent, allowing larger shareholdings in Australia's biggest securities exchange.
"Should a competitor to the ASX emerge, there will be arrangements in place for safe and effective competition, allowing for a transition to competition," Morrison told reporters.
Lifting the ceiling on individual shareholdings would make capital raising more flexible for the exchange, which is listed.
The ASX said it welcomed the government's commitment to "safe and effective competition" in cash equities clearing. It said it was cutting its equities clearing fee by 10 percent from July 1.