ASX Clear Pty Limited (ASX Clear) confirms it received regulatory clearance in November 2025 for rule amendments to the ASX Clear Operating Rules (ASXCOR) and supporting amendments to the ASX Clear Operating Rule Procedures, including:

• Amending ASX Clear Operating Rule 12.2.1 to remove the requirement that Approved Market Operators (AMOs) include both a delivering and receiving participant ID (PID) in the particulars of a Cash Market Transaction submitted to the CS Entities by an AMO.  This change is on the basis that the CHESS replacement system does not provide the functionality for a Trading Participant ID to be linked with more than one clearer;
• Deleting ASX Clear Operating Rules 12.7.2 - 12.7.5, 12.7.7, 12.7.8 and amending Operating Rules 12.7.6, 12.7.9. 12.8.1 and 12.8.5 to remove the ability for Clearing Participants to request that Cash Central Counterparty (CCP) Transactions be removed from novation and set-off and be excluded from set-off. Clearing Participants who wish to request a Cash CCP Transaction be removed from novation and set off or excluded from set off on Trade Date, will continue to have the option of requesting their AMO cancel the Cash Market Transaction on their behalf;
• Amending ASX Clear Operating Rule Procedure 1.17.1 to specify that the new AMO User Technical Documentation (which is replacing the CHESS External Interface Specification (EIS) as it relates to AMOs) is subject to the Operating Rule relating to intellectual property included within the ASX Clear Operating Rule 1.17.

The amendments to the Rules and Procedures facilitate the implementation of Release 1 of the Clearing House Electronic Subregister System (CHESS) replacement system and will become effective on 20 April 2026.

Additional Information:

On 3 March 2025, ASX released a consultation paper titled Consultation on Release 1 (Clearing Services) – Amendments to Rules and Procedures in relation to proposed amendments to the ASX Clear Operating Rules and Procedures and ASX Clear Operating Rules Procedures. On 10 July 2025, ASX released its Response to consultation feedback received in relation to that consultation paper. The response includes final marked up amendments to the rules and procedures.

What do I need to do by when?

Approved Market Operators and ASX Clear Participants should familiarise themselves with these amendments and comply with the updated requirements.

Effective date

The ASXCOR amendments are effective on 20 April 2026.

Need more information?

Issued by

Nikki Swinson, GM Participants Compliance

Karen Webb, GM Equities Post Trade

Contact information

James Young, Interim Managing Counsel
Office of General Counsel
james.young@asx.com.au

Disclaimer