Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Basis swap Fixed-to-floating swap
|
Currency: |
USD
|
Index: |
LIBOR
|
Product Tenor: |
28 days to 50 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Basis swap Fixed-to-floating swap
|
Currency: |
EUR
|
Index: |
EURIBOR
|
Product Tenor: |
28 days to 50 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Basis swap Fixed-to-floating swap
|
Currency: |
GBP
|
Index: |
LIBOR
|
Product Tenor: |
28 days to 50 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Basis swap Fixed-to-floating swap
|
Currency: |
JPY
|
Index: |
LIBOR
|
Product Tenor: |
28 days to 30 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Basis swap Fixed-to-floating swap
|
Currency: |
AUD
|
Index: |
BBSW
|
Product Tenor: |
28 days to 30 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Forward rate agreement
|
Currency: |
USD
|
Index: |
LIBOR
|
Product Tenor: |
3 days to 3 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Forward rate agreement
|
Currency: |
EUR
|
Index: |
EURIBOR
|
Product Tenor: |
3 days to 3 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Forward rate agreement
|
Currency: |
GBP
|
Index: |
LIBOR
|
Product Tenor: |
3 days to 3 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Forward rate agreement
|
Currency: |
JPY
|
Index: |
LIBOR
|
Product Tenor: |
3 days to 3 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Forward rate agreement
|
Currency: |
AUD
|
Index: |
BBSW
|
Product Tenor: |
3 days to 3 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Overnight index swap
|
Currency: |
USD
|
Index: |
FedFunds
|
Product Tenor: |
7 days to 2 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Overnight index swap
|
Currency: |
EUR
|
Index: |
EONIA
|
Product Tenor: |
7 days to 2 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Overnight index swap
|
Currency: |
GBP
|
Index: |
SONIA
|
Product Tenor: |
7 days to 2 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
Other exemptions, if any: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
|
|
Effective Date: |
|
|
Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
|
|
Last Update of the Regime: |
|
Authority: |
Australia-Australian Securities and Investments Commission
|
Jurisdiction: |
Australia
|
Product features |
Product type: |
Overnight index swap
|
Currency: |
AUD
|
Index: |
IBOC
|
Product Tenor: |
7 days to 2 years
|
Optionality: |
No
|
Single Or Dual Currency: |
Single
|
Conditional Notional Amount: |
No
|
Other Product Characteristics: |
|
Eligible CCPs |
Eligible CCPs: |
ASX Clear (Futures) Pty Ltd, LCH Limited, Chicago Mercantile Exchange Inc, CME Clearing Europe Ltd, Eurex Clearing AG, Japan Securities Clearing Corporation, NASDAQ OMX Clearing AB, and OTC Clearing Hong Kong Ltd.
|
Where any of the eligible CCPs listed in the preceding column are not authorised to provide clearing services to all the products in this row, details of these limitations: |
|
Exemptions (Note: The application of the exemptions below may be subject to conditions and restrictions. Please see the relevant notes for details.) |
End-users/ non-financial entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
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Affiliated entities / group entities exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
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Pre-existing transactions exemption: |
Yes
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
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Other exemptions, if any: |
No
View Note
Australia
Definition of types of Clearing Entities
The Australian clearing regime applies to the following types of Clearing Entities:
* Australian Clearing Entity (in a representative capacity): the scheme or trust is incorporated or formed in Australia, the financial entity is incorporated or formed in Australia or is a foreign company, and meets the clearing threshold (AUD$100bn) in that representative capacity.
* Foreign Clearing Entity (in a personal capacity): A financial entity that is a foreign company and meets the clearing threshold (AUD$100bn) in its personal capacity.
Source: ASIC Derivative Transaction Rules (Clearing) 2015.
Exemptions to central clearing requirements:
1. Exemption where no licensed or prescribed CCP
2. Exemption for intra group trades where the counterparty to the clearing transaction is a related body corporate of the clearing entity.
3. Exemption for multilateral portfolio compression if the clearing transaction is entered into as a result of the clearing entity modifying or terminating and replacing derivatives under a multilateral portfolio compression cycle.
4. Exemption for transactions entered into as a result of a party exercising an option granted under a swaption, where the swaption was entered into before the commencement of the Clearing Rules (4 April 2016)
Source Exemptions 1-3: ASIC Derivative Transaction Rules (Clearing) 2015
Source Exemption 4: ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258.
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Effective Date: |
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Reference: |
ASIC Derivative Transaction Rules (Clearing) 2015
https://www.legislation.gov.au/Details/F2015L01960
Corporations Amendment (Central Clearing and Single‑Sided Reporting) Regulation 2015
https://www.legislation.gov.au/Details/F2015L01411
Ministerial determination setting out the product scope of the mandatory central clearing regime
https://www.legislation.gov.au/Details/F2015L01392
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Last Update of the Regime: |
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