ASX OTC Clearing – 2021 ISDA Interest Rate Derivatives Definitions

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Notice reference number: 1364.21.09
Date published: 30/09/21
Effective as of: 04/10/21
Last updated: 30/09/21

ASX will adopt the 2021 ISDA Interest Rate Derivatives Definitions as the definitions for cleared interest rate swaps from 4 October 2021.

To support these changes ASX has made a number of amendments to the ASX OTC Rules and Handbook so that on and from 4 October 2021:

·       OTC Transactions referencing either the 2006 ISDA Definitions or the 2021 ISDA Definitions will be eligible for clearing through the ASX OTC Clearing Service;

·       all OTC Open Contracts (whether cleared before, on or after 4 October 2021) will be treated as if they incorporated the 2021 ISDA Definitions (not the 2006 ISDA Definitions);

·       the references to the 2006 ISDA Definitions are updated to reflect the new 2021 ISDA Definitions.

A copy of the amended ASX OTC Rules and Handbook showing the above changes is available here.

An implementation guide is also available here, providing further background on the operational implementation approach.

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Issued by

Allan McGregor
Senior Manager, Rates

Contact information

+61 (02)  9227 0814