Notice

ASX Clear (Futures) Overnight Margining Process

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Notice reference number: 0297.22.03
Date published: 21/03/22
Effective as of: 04/04/22
Last updated: 21/03/22

ASX Clear (Futures) is amending the Overnight Margin Process to include Variation Margin for the eligible in-scope Clearing Participants, effective Monday, 4 April 2022. The first margin call with the new methodology will be Tuesday, 5 April 2022 (2am AEDT).

The new methodology extends the current overnight margin calculation, which is an initial margin call only, to include the Variation Margin component as part of the overnight margin shortfall calculations.

Details of the full scope of the Process are outlined in the ASX Clear (Futures) Overnight Margining Process document, see link below.

https://www2.asx.com.au/content/dam/asx/markets/clearing-and-settlement-services/asx-clear-futures-overnight-margining-process.pdf

What do I need to do by when?

Clearing Participants should be mindful of the potential impact of the inclusion of
Variation Margin in overnight margin call calculations. Any change to US settlement bank Standard Settlement Instructions (SSIs) have been communicated bilaterally.

Inclusion of VM in the USD overnight margin call process  will be effective Monday, 4 April 2022. The first margin call with the new methodology will be Tuesday, 5 April 2022 (2am AEDT).

Need more information?

Issued by

Clearing Risk Management

Contact information

Email: CROversight@asx.com.au

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