Reintroduction of Core Tailor Made Combination Functionality and Options Liquidity Growth Program

What's this about:
  • ASX Market
  • Cash
  • Debt Instruments
  • Equities
  • Exchange Traded Products (ETP) & mFund
  • Equity Derivatives
  • Options & ETOs
  • Trading
  • Clearing
  • Settlement
  • Operations
  • Product
  • Other
  • Technology
  • ASX trade
  • ASX Clear
  • equity market
  • tmc
  • tmc’s
  • registration fees
  • rebate
Notice reference number: 1759.20.12
Date published: 23/12/20
Effective as of: 01/01/21
Last updated: 23/12/20

ASX confirms that core Tailor Made Combination (TMC) functionality was restored on ASX Trade on Monday, 21 December, as advised in ASX Market Notice - 1682.20.12.

This core functionality enables TMC orders to be created with multiple legs and then executed together at a net price.  Returning this functionality supports the majority of trading for which equity options customers use TMCs.

ASX will update the market on other TMC functionality - TMC interaction with other order books - in early 2021.

Options Liquidity Growth Program - Fee Rebates

To help promote growth in the equity options market, ASX will introduce an Options Liquidity Growth Program in the form of fee rebates for three months from 1 January through to 31 March 2021.

Recent adjustments to rule procedures allowed activity normally conducted on-screen (on-market) to be executed off-screen (off-market).  The exchange fee rebates for equity options clearing participants and for market makers aim to encourage the return of on-screen activity.

  • Exchange-traded options (ETO) registration fees for on-screen (on-market) activity will be rebated (uncapped) to clearing participants and paid on the last trading day of the following month during the program (ie the rebate for January 2021 will be paid on 26 February 2021).  Clearers will be given details of the rebated trading participant and end-client activity.
  • For the designated Equity Options Market Makers, technical services fees for ASX Market Access1 will also be rebated (capped at a maximum of $30,0002 per month) and paid on the last trading day of the following month during the program. This rebate recognises the critical role market makers play in providing liquidity in ETOs.


  1. Technical services fees for ASX Market Access means the following five product codes: High Capacity Open Interface Sessions (02900022), Standard Open Interface Sessions (02900020), ASX OUCH Throughput (05100134), ASX OUCH Connectivity (05100132) and ASX Trade Gateway (02900015).
  2. Capped at $10,000 per month for Market Makers covering XJO only; $30,000 per month for Market Makers covering both index and single stock options.


What do I need to do by when?

Review rebate details and contact ASX for further information if needed.

Need more information?

Issued by

Helen Lofthouse – Executive General Manager, Derivatives and OTC Markets

Contact information

Graham O'Brien
Senior Manager, Equity Derivatives
P: +61 2 9227 0672

Equity Derivatives