Austraclear Service Release 19 Scheduled for 7 July 2025

Participants are advised that Austraclear Service Release 19 (SR19) is scheduled to go live on Monday 7 July 2025. Participant testing will commence Wednesday 7 until 23 May 2025.

There is no new Austraclear Graphical User Interface (GUI) or software requirement for this release and Participant testing on the weekend of implementation is not mandatory.

The Austraclear Service Release 19 includes the following:

·       Introduction of a new report to enhance visibility and streamline settlement processes during assured mode:

-       Assured Mode Cash List Report (available in PDF and CSV formats)

This report will provide the net credit or debit cash amount settled during assured mode. This settlement amount shown is the value scheduled to be settled in RITS the following day, in line with the RBA’s processing of transactions completed under assured mode.

This new report eliminates the need to manually compare the interim report with the day end cash List report to determine the assured mode settlements.  

In addition, we are introducing new Austraclear reports in CSV format to support integration with participants’ internal systems. These reports include:

-       Record Date Report

-       Linked Settlement Report

·       Introduction of pagination for Corporate Action Notification messages (MT564) to ensure that each SWIFT message remains within the 10,000 character limit.

As part of this enhancement, Tag 28 will be populated according to the following pagination logic:

• 28E =  0001/ONLY – This is used when there is no pagination (i.e., the message fits entirely within a single transmission)
• 28E =  <page number>/MORE – Used when there is pagination, indicating the page number and that more pages follow
• 28E = <page number>/LAST – Used to indicate the final page of a paginated message.

·       Enhancing the MT512 HTHL message to include two new fields:

                -       Austraclear sub account

                -       Cash Record

These additions will enable participants to settle fixed interest and discount securities via HTHL using their nominated sub-account and cash record, replacing the Participants Austraclear default standard settlement instructions (SSIs). For full details, please refer to the attached HTHL specifications document.

·       Introduction of amend functionality within the MT300 Foreign Exchange Confirmation message. Currently Austraclear does not support amendments to modify an existing SWIFT instruction. As a result, Participants must cancel the original instruction and then send submit a new MT300 message, leading to a loss of trade history. With this enhancement, participants will be able to send an amend MT300 message to update the existing SWIFT message directly, preserving the trade’s history and improving efficiency. For full details on the changes and updated workflow, please refer to the attached MT300 enhancements document.

The SWIFT MT300 specifications for Austraclear have been published and are available in SWIFT MY Standards. To access the SWIFT My Standards collections, participants must have user access on SWIFT.com. To register, please visit https://www2.swift.com/mystandards.

·       The Austraclear systems password policy will be updated with the following changes. Users will still be able to log in with their current passwords until they expire. Once their password expires, users will be required to adhere to the new policy.

-       The minimum password length will increase from 8 to 12 characters, with the maximum length of 32 characters.

-       Password complexity must contain a combination of at least three out of the four-character types: uppercase, lowercase, numbers and special characters.

-       The maximum password age will be extended from 90 to 365 days. As a result, the system will prompt users to change their password starting 14 days before the 365 day expiration.

These changes are being implemented to enhance security and align with industry best practices.

ISO 20022

Following consultation with customers, we will implement the camt.025 message, replacing the MT298 message no earlier than November 2026. The SWIFT camt.025 specifications for Austraclear will be published and available in SWIFT MY Standards from 30 May 2025.

Customer testing timelines will be shared in due course.

Additionally, Participants must ensure that Relationship Management Applications (RMAs) established with Austraclear are updated to include permission for receipt of the ISO messages, pacs.002, camt.029 and the camt.025 message.
 

Below are the key dates for this release.

What do I need to do by when?

The test environment is available for Participants to perform testing of the enhancements from 07 to 23 May 2025. Participants that would like to test outside the designated window are requested to email austraclear@asx.com.au to schedule a suitable time.

Need more information?

Issued by

Debt and Collateral Operations

Contact information

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

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