Amendment to ASX 24 Regarding Cancellations and Settlement
ASX advises that minor changes to the ASX Rules and Procedures regarding cancellations and the daily settlement price are being made:
ASX 24 Operating Rules 3200 and 3210
These changes are aimed at clarifying when Participants must make a request for a cancellation to be considered by the ASX.
ASX 24 Procedures 3200 to 3210
These changes are as follows:
• Participants will have 10 minutes instead of 5 minutes to send the email confirmation of the cancellation request (in line with ASX) and an email address is included for notifications;
• Inclusion of the requirement that the original net price is maintained when repricing a strategy or contingent trade (in line with ASX);
• References to Participants having to notify of trades in the Extreme Trade Range are removed;
• References to Extreme Cancellation Range (ECR) are changed to Extreme Trade Range (ETR) (in line with ASX);
• The cancellation ranges for grains and wool futures contracts have been amended so that the ranges are narrower as requested by Participants;
• Inclusion of “Authorised Signatories” as the person who must contact the ASX regarding cancellations, in line with Rule 6510;
• Inclusion of a fuller description of when ASX lets the market know that a cancellation is requested.
ASX 24 Procedure 2500 Futures Daily Settlement Price Procedures
This amendment changes the specified tick range for grain futures contracts when determining the daily settlement price.
Attachment A contains a marked up version of the Rules and Procedures and these will come into effect on 31 March 2013.