AUSTRALIA: ASX Clear to Introduce Close-out Netting for CCP`s Default

Wednesday June 18 2014

News Source: Global Exchanges

Focus: Credit Rating

Type: General

Country: Australia

Link: https://www.asxonline.com/intradoc-cgi/groups/participant_services/documents/communications/asx_040772.pdf

With effect from 23 June 2014 (subject to regulatory clearance), the ASX Clear Operating Rules will be amended to give Clearing Participants the right to terminate novated contracts in the event of ASX Clear’s default.

Click link above for further details.