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This instrument amends the ASIC Derivative Transaction Rules (Clearing) 2015 (the Rules) to remove products which can no longer be traded or cleared from the definition of a Clearing Derivative in Rule 1.2.3 of the Rules.
Administered by: Treasury
Registered 13 May 2022
Table of contents.

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ASIC Derivative Transaction Rules (Clearing) Amendment Instrument 2022/224

I, Nathan Bourne, delegate of the Australian Securities and Investments Commission, acting with the written consent of the Minister, make the following legislative instrument.

 

Date    12 May 2022

 

 

Nathan Bourne

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Derivative Transaction Rules (Clearing) Amendment Instrument 2022/224.

2        Commencement

This instrument commences on the day that is 3 months after the day it is registered on the Federal Register of Legislation.

Note:    The register may be accessed at www.legislation.gov.au.

3        Authority

This instrument is made under sections 901A and 901M of the Corporations Act 2001.

4        Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

5        Repeal of amending and repealing instruments

(1)     The repeal of an instrument by section 4 does not affect any amendment to or repeal of another instrument (however described) made by the instrument.

(2)     Subsection (1) does not limit the effect of section 7 of the Acts Interpretation Act 1901 as it applies to the repeal of an instrument by section 4 of this instrument.


Schedule 1—Amendments

ASIC Derivative Transaction Rules (Clearing) 2015

1        Subrule 1.2.3(2) (table items 3 and 4)

Repeal the items.

2        Subrule 1.2.3(2) (table item 5)

Renumber as item 3.

3        Subrule 1.2.3(3) (table items 3 and 4)

Repeal the items.

4        Subrule 1.2.3(3) (table item 5)

Renumber as item 3.

5        Subrule 1.2.3(4) (cell at table item 2, column headed “Floating Rate Index”)

Omit “Euro Overnight Index Average (EONIA)”, substitute “Euro Short-Term Rate (€STR)”.

6        Subrule 1.2.3(4) (cell at table item 2, column headed “Termination Date Range”)

Omit “2 years”, substitute “3 years”.

7        Subrule 1.2.3(4) (cell at table item 3, column headed “Termination Date Range”)

Omit “2 years”, substitute “50 years”.

8        Subrule 1.2.3(4) (after table item 4)

Insert:

5

Japanese yen

Tokyo Overnight Average Rate (TONA)

7 days to 30 years