Participant
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Notice
What's changing?
On 13 May 2024, ASX released a consultation paper titled ASX 24 and ASX Clear (Futures) – Change to position reporting framework and review and refresh of operating rules.
This consultation paper outlines proposed amendments to the ASX 24 Operating Rules and Procedures and ASX Clear (Futures) Operating Rules and Procedures that relate to:
- the transfer of obligations for allocations, position limits and daily reporting of Open Positions from Trading Participants to Clearing Participants. The amendments also introduce additional fields for position reporting and clarify the requirements for managing net-down obligations (including post-expiry). To support the amendments, ASX Clear (Futures) proposes to introduce a Guidance Note on position management
- the five year review and refresh of the ASX Clear (Futures) Operating Rules and Procedures. This includes enhancements to support continued compliance with clearing and settlement facility licence obligations such as a broader power to request information from participants, a requirement for clearing participants to notify and update contacts to support the use of recovery powers, and a broader emergency power to enable ASX Clear (Futures) to take action if an undesirable situation or practice develops that is contrary to a fair and effective clearing and settlement facility or the reduction of systemic risk.
What do I need to do by when?
ASX welcomes feedback from stakeholders on the draft rule amendments. Written submissions are requested by 12 July 2024.
Need more information?
Issued by
Nikki Swinson, GM Participants Compliance
Contact information
Nikki Swinson
+61 (02) 9227 0000
nikki.swinson@asx.com.au