Friday January 30 2015
News Source: Global Exchanges
Focus: Derivative Market Segment
Type: General
Country: Australia
Link: https://www.asxonline.com/intradoc-cgi/groups/derivatives/documents/communications/asx_043029.pdf
The Australian Securities Exchange (ASX) has issued a reminder regarding the introduction of automatic exercise as the clearing house default position for all ‘in-the-money’ cash settled and deliverable option contracts on expiry date.
Amendments to the rules will be implemented on 2nd February 2015. The rule amendments provide transparency as to the error resolution processes that apply where a participant makes an exercise error and also include enhanced ASX powers to support the performance of ASX Clear’s functions in the exercise and settlement process, including for participant or ASX error at exercise.
Click on the above link for further information.