Effective today 8 February 2017, ASX Clear has amended ASX Clear Operating Rules Procedures regarding lodgement of Collateral for House Account and Cash Market Account margin.
The amendments establish the requirements for lodging financial products to meet House Account margin, replicating requirements which apply for CMM, including that:
Some minor clarifications to the existing process for lodgement of financial products to meet CMM are also being made.
The amendments also remove references to the use of bank guarantees to meet CMM, following the end of the transitional period for reliance on such guarantees which expired on 6 June 2016.
A copy of the amendments in mark-up is attached.
Clearing Participants seeking to lodge financial products to meet House Account margin should read the attached amendments to understand the new requirements and introduce any processes or procedures into their organisation so as to be compliant with them.
Colm Grace, Senior Manager Clearing Risk Policy Management
Colm Grace
+61 (02) 9227 0439
coln.grace@asx.com.au