Notice

Changes to Market Maker minimum quote size, Quoting Schedule allocation and Special Size for Single Stock options

What's this about:
  • ASX Market
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  • Flexclear OTC
  • Special Size
  • ETO Market Making
  • Market Making Obligations
  • FlexClear™
  • ALL
  • CBA
  • CPU
  • CWY
  • EDV
  • MQG
  • NAB
  • PDN
  • WTC
  • ANZ
  • APA
  • BGL
  • CSL
  • FPH
  • IAG
  • NEC
  • RIO
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Notice reference number: 0164.25.02
Date published: 19/02/25
Effective as of: 03/03/25
Last updated: 19/02/25

ASX is making changes to the minimum market maker quote size for 14 Single Stock ETO Classes and corresponding changes to the Special Size levels. In addition, 9 Single Stock ETO Classes will be allocated new Quoting Schedules.

ASX participants and users are advised that ASX will be making changes to the market maker quoting obligations in a range of Single Stock ETO Classes. The changes have been made based on consultation with Market Makers, accounting for market changes over the past 12 months.

ASX will also be making changes to the minimum quote size obligations and allocations within quoting schedules.

ASX has a general policy in setting the level of ETO Special Size (with respect to number of contracts) to a 15 times multiple of the minimum market maker quote size. As such, Special Size levels and associated Equity FlexClear™ entry size levels will be adjusted accordingly.

The changes to market maker quoting obligations and Special Size levels of affected ETO Classes will become effective from Monday 3 March 2025.

 A summary of the 14 ETO Classes whereby minimum quoting size and corresponding Special Size level are changing can be found below:

Underlying

Current Min Quote Size

ASX New Min Quote Size

New Special Size (number of contracts)

ANZ*

300

250

3,750

APA

100

150

2,250

BGL

500

750

Special Size not enabled

CBA*

100

60

750 (No change)^

CSL*

20

30

450

EDV

200

300

4,500

FPH

150

100

Special Size not enabled

IAG

500

300

4,500

NAB*

250

200

3,000

NEC

500

750

11,250

RIO*

50

75

1,125

TAH

1,000

1,500

22,500

WBC*

300

250

3,750

WDS*

100

150

2,250

* Top 20 stock

^ Some ETO Classes had the number of contract set when the “Special Size” policy was originally introduced.

Note:

-        ETO Special Size premium value thresholds will remain unchanged and continue to align with ASICs MIR for the given               underlying.

-        CBA was unchanged as it was capped when the special size policy was first introduced.

9 ETO Classes are moving to new Quoting Schedules (Max Spreads):

Underlying

Current Quoting Schedule

ASX New Quoting Schedule

ALL

3

4

CBA*

5

6

CPU

2

3

CWY

2

1

EDV

2

1

MQG*

5

6

NAB*

3

4

PDN

3

2

WTC

5

6

* Top 20 stock

Please find below links to the comprehensive list of ETO Market Maker obligations and Quoting Schedules, and ETO Class Special Size levels becoming effective on 3 March 2025:

-        Market Maker Obligations – covering min. quote size, allocated quoting schedule and quoting schedule  

-        ETO Special Size levels 

-        ASX Equity FlexClear™ entry levels 

 

What do I need to do by when?

Participants and end users should familiarise
themselves with the market maker obligation adjustments and Special Size/FlexClear™ changes in order to make any necessary process developments to accommodate the transition.

Need more information?

Issued by

Gregory Pill – Head of Equity Derivative Products

Contact information

Gregory Pill
+61 (02)  9227 0696
greg.pill@asx.com.au

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