Effective 1 May 2017, ASX has amended Schedule 11A (Additional Prescriptions) of the ASX Clear (Futures) Operating Rules to reflect changes to its Capital Based Position Limit (CBPL) methodology.
The amendments provide that:
a Clearing Participant that is a bank or a subsidiary of a bank or bank holding company that meets prescribed requirements has a limit on Initial Margin liability of $1.5 billion; and
all other Clearing Participants have a limit on Initial Margin liability of no more than 300% of their Net Tangible Assets.
A copy of the amendments is available here.
Clearing Participants do not need to take any action.
Colm Grace, Senior Manager, Clearing Risk Policy and Management
Colm Grace
+61 (02) 9227 0439
colm.grace@asx.com.au