Federal Register of Legislation - Australian Government

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Rules/Other as made
This instrument amends the ASIC Derivative Transaction Rules (Clearing) 2015 to remove products that reference the US dollar London Interbank Offered Rate and to add a new item in the Overnight Index Swaps class. It also removes Australian dollar denominated contracts from the Forward Rate Agreement class.
Administered by: Treasury
Registered 19 Sep 2023
Table of contents.

Commonwealth Coat of Arms and ASIC logo

ASIC Derivative Transaction Rules (Clearing) Amendment Instrument 2023/726

I, Benjamin Cohn-Urbach, delegate of the Australian Securities and Investments Commission, acting with the written consent of the Minister, make the following legislative instrument.

 

Date    18 September 2023

 

 

Benjamin Cohn-Urbach

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Derivative Transaction Rules (Clearing) Amendment Instrument 2023/726.

2        Commencement

(1)     This instrument (other than item 7 of Schedule 1 to this instrument) commences on the day after this instrument is registered on the Federal Register of Legislation.

(2)     Item 7 of Schedule 1 to this instrument commences on the day that is 6 months after the day this instrument 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 section 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Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.


Schedule 1—Amendments

ASIC Derivative Transaction Rules (Clearing) 2015

1        Subrule 1.2.3(2) (table item 1)

Repeal the item.

2        Subrule 1.2.3(2) (table item 2)

Renumber as item 1.

3        Subrule 1.2.3(2) (table item 3)

Renumber as item 2.

4        Subrule 1.2.3(3) (table item 1)

Repeal the item.

5        Subrule 1.2.3(3) (table item 2)

          Renumber as item 1.

6        Subrule 1.2.3(3) (table item 3)

          Repeal the item. 

7        Subrule 1.2.3(4) (after table item 5)

Insert:

6

US dollar

Secured Overnight Financing Rate (SOFR)

7 days to 50 years