Austraclear End of Day Session Extension requests

This notice is to remind Participants of the requirements around requesting an Austraclear end of day session extension.

Austraclear session extensions are intended to be undertaken where there has been a significant operational incident or other market-wide disruption. The arrangements distinguish between requests to extend settlement sessions that arise from operational incidents and those where the delay to completion of normal operations are caused by avoidable operational inefficiencies.

If a Participant becomes aware of an emerging issue of any kind that is likely to require a session extension, the Austraclear Service Desk (1300 362 257) should be informed in a timely manner.

Due to the time critical nature of the process, requests to extend the Austraclear end of day must be made at least 10 minutes before the scheduled RITS settlement session close time 16:30. Any requests received after this will be dealt with on a ‘best endeavours’ basis. This rule also applies to subsequent extensions.

Requests for extensions not related to operational incidents will only be considered where:

a)             the Austraclear Service Desk in consultation with the RITS Help Desk is convinced of the likelihood of the situation being rectified within the first 15 minutes; and

b)             trades of $250 million or more are outstanding; or

c)             the Reserve Bank is convinced of significant market disruption.

Requests for extensions will not automatically be granted where the request is the result of operational inefficiencies such as the late arrival or processing of client payment instructions, delays in obtaining securities for delivery, or inadequate staffing on the day.

For full details around the Austraclear and RITS Session extension process, please refer to the following link: https://www.rba.gov.au/rits/info/pdf/Overview_of_Functionality.pdf

What do I need to do by when?

Should you have additional queries, please contact us below for further information.

Need more information?

Issued by

Brendan Laird, Senior Manager Settlement Operations

Contact Details

Any enquiries should be directed through to the Austraclear and ASX Collateral Service Desk on 1300 362 257 or via email to Austraclear@asx.com.au

Disclaimer