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Notice
The purpose of this ASX Information Services Notice is to provide customers an update to a specific Security Type, presently labelled Security Type 33: Traded Managed Fund – High Denomination, as well as to provide some general guidance on our approach to the handling of certain Security Types in the event of higher denomination trading for those instruments (usually approaching A$1,000). This is specifically directed at ReferencePoint customers who subscribe to the following ReferencePoint services:
· Master List
· Daily Official List
· Course of Sales
· Broker Trades
Description Change to Security Type 33
The name of Security Type 33 will be changed in the ReferencePoint Master List Specification Manual
From:
Trading Managed Fund – High Denomination
To:
High Denomination ETFs
The Specification Manuals for these ReferencePoint services indicate how those raw prices which are disseminated are to be derived by users, linking the price derivation method to the Security Type allocated to that instrument.
The Manuals are available on the ASX Online Information Services web page below:
https://www.asxonline.com/public/landing-pages/asx-market-information/reference-products.html
General Guidance as to the re-classification of securities that approach the high denomination price value
Most securities traded on ASX are allocated a normal denomination Security Type which has a maximum tradeable value of A$999.999999 (or 99,999.99 cents).
When a given security’s price level approaches this maximum tradeable value, the Security Type of the security must be changed to a High Denomination Security Type in order to allow for trading at price levels greater than A$999.999999 (and less than A$99,999.99).
|
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Security Types |
Normal Denomination |
High Denomination
|
Ultra High Denomination |
Security Type examples |
All Security Types unless otherwise specified as a High or Ultra High Denomination |
11: High Denomination Equities 12: High Denomination Convertible Notes 33: High Denomination ETFs 34: QDB Managed Fund (T+3) – High Denomination 35: mFund – High Denomination 48: High Denomination Warrants (Calls) 49: High Denomination Warrants (Puts) 57: QDB Structured Product Call – High Denomination 58: QDB Structured Product Put – High Denomination 85: Australian Grain Futures 87: Australian Wool Futures 90 to 97: Options and LEPOs |
39: Trading Structured Product Call – Ultra High Denomination 52: Trading Structured Product Put – Ultra High Denomination 59: Warrant Call – Ultra High Denomination 65: Warrant Put – Ultra High Denomination |
Bytes |
9 |
9 |
9 |
Format |
Numeric 9(5)V9(4)
Expressed as cents to four decimal places |
Numeric 9(5)V9(4)
Expressed as dollars and cents to four decimal places. |
Numeric 9(7)V9(2)
Expressed as dollars and cents to two (2) decimal places. |
Maximum value price field |
99999.9999 cents
|
$99,999.9999 |
$9,999,999.99 |
Given the association between an instrument’s price and its allocated Security Type, the standard approach in the event of higher denomination trading for an instrument, is to re-classify the Security Type of that instrument.
ASX will update an instrument’s Security Type to accommodate for a higher price limit. For example, this could be reclassifying an instrument under a Normal Denomination security (price format expressed in cents to four decimal places), to a High Denomination Security Type (price format expressed in dollars to four decimal places).
In the event ASX identify any instrument approaching its price value limit due to higher denomination trading, ASX will advise customers of the appropriate Security Type re-classification and any associated price derivation guides, as and when these events occur. An Information Services Notice will be published at the time.
If customers have any questions, we ask you to please reach out to ASX Information Services team via email to Information.Services@asx.com.au.
Upcoming Events
Date |
Event |
Bulletin/Notice No. |
End August 2024 – exact date to be advised. |
Expanded field sizes in several price and quantity related fields in the ReferencePoint Daily Official List service |
02/24 |
7 October 2024 |
ASX ComNews report type updates |
03/24 |
What do I need to do by when?
Ensure relevant end users are aware of the contents of this Notice.
Need more information?
Issued by
Houda Harb, Senior Product Manager - Information Services
+61 2 9227 0422
houda.harb@asx.com.au
Contact information
ASX Information Services
Information.Services@asx.com.au