2012/13 Assessment of ASX Clearing and Settlement Facilities Appendix B1.2: ASX Clear (Futures)

Financial Stability Standards for Central Counterparties

The Financial Stability Standards for Central Counterparties (CCP Standards) are made up of 21 headline standards, each of which is accompanied by a number of more detailed sub-standards. In assessing whether a facility has met each of the CCP Standards, the Reserve Bank takes into account associated guidance.[1] The following provides details of how ASX Clear Pty Limited (ASX Clear) and ASX Clear (Futures) Pty Limited (ASX Clear (Futures)) observe each of the CCP Standards (including sub-standards). It also sets out the Bank's assessment of how well ASX Clear and ASX Clear (Futures) has complied with each of the CCP Standards during the Assessment period, and provides recommendations for each of the central counterparties (CCPs) to address relevant areas of concern and to encourage steps to further strengthen the CCPs’ observance of standards.[2]

B1.2 ASX Clear (Futures)

ASX Clear (Futures) is a wholly owned subsidiary of ASX Clearing Corporation Limited (ASXCC), itself a wholly owned subsidiary of ASX Limited. ASX Clear (Futures) acts as the central counterparty (CCP) for all futures and options products that are traded on the ASX 24 market. In July 2013 ASX Clear (Futures) began offering a clearing service for over-the-counter (OTC) interest rate derivatives.

Footnotes

The guidance is available at <https://www.rba.gov.au/payments-system/clearing-settlement/standards/central-counterparties/2012/>. [1]

For an explanation of the Bank's Assessment approach and the ratings scale used, see introduction to Appendix B. [2]