Amendments have been to the ASX 24 Operating Rule Procedures related to EFP and Block Trade Reporting. The revised procedures support ASX 24 Operating Rules 4800 – 4804 and 4820.

The amendments have been made:

• In response to feedback from Participants, particularly in relation to EFPs between related parties
• To align with changes due to the TradeAccept replacement project which has been the subject of industry wide consultation and will be ‘live’ on 22 June 2026
• To streamline and reduce duplication within the Procedures

Following market consultation with all affected Trading Participants, and receipt of regulatory approval, the Procedure amendments are effective 22 June 2026.  The key changes are:

• Inclusion of a value that the Physical component of an EFP must be within, expressed as a % of the associated Futures or Options Contract (where it didn’t already exist)
• Clarification on trade booking where the trade is between Related Body Corporates
• The ability for the settlement of the physical side of the EFP to be facilitated by a third party, on a matched principal basis, on behalf of two other parties.  (Consequently. the waiver granted to all ASX 24 Participants on 10 December 2025 will be rescinded as at 22 June 2026.)
• Amendment to the reporting time for night session Block Trades
• Various amendments to align with the TradeAccept replacement project

The rule and procedure changes can be viewed here or here.

Dual sided EFPs

A design issue has been identified where the dual reporting functionality was updated to remove the two-step requirement (seller entering and buyer approving). As a result, participants that report on behalf of two clients (where the participant is not part of the negotiation) could result in the participant appearing to not meet reporting times prescribed under the rules, as the sell side and buy side reports will have the same timestamp in the new TradeAccept. A worked example of the issue is attached here.

To support Trading Participants with this issue, ASX has introduced an Explanatory Note in the EFP Agreement Time section to address situations where a participant can only report after receiving sufficient instructions from the buy side client, and where the sell side is entered in excess of the reporting time (within 60 minutes). Noting Participants should register the dual-side EFP within the expected EFP Agreement Time (up to a maximum of two hours) and seek buy side client instructions in time to meet the rule requirements.

ASX further recognises that some participants also utilise the sell side report timestamp in TradeAccept as part of their processes for managing the EFP trade reporting. ASX wishes to advise participants they can use two interim solutions based on whether the participant uses the UI or the bulk upload which are attached here.

What do I need to do by when?

The changes to the ASX 24 Operating Rule Procedures 4800 – 4804 and 4820 are effective on Monday 22 June 2026. 

Need more information?

Issued by

Nikki Swinson, GM Participant Compliance

Contact information

Nikki Swinson 
+61 (02)  9338 0000
www.asx.com/contact

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