Published On: Fri, Mar 1st, 2013

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.

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