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Clearing forms

All Clearing forms must be signed by authorised signatories of the requesting Participant/s and lodged with ASX Clear (Futures) Business Operations by the specified time on the form to ensure same day processing.

Daily Cash Settlement Form

  • Submitted on a daily basis if a Participant wishes to move funds with ASX Clear (Futures) as settlement of Daily Margin Calls. 
  • Allows the Participant to nominate the amount to be settled with ASX Clear (Futures) in any acceptable currency pursuant to ASX Clear (Futures) Operating Rules.
  • Must contain the cash movement and the resultant excess cash the Participant will hold.

If a Participant has standing instructions with ASX Clear (Futures), the daily lodgement of this form is not required provided the cash movement to/from standing instructions is the amount to be settled for the day.

Commission Adjustment

ASX Clear (Futures) provides a highly efficient means to charge execution commission from the Executing Broker to the Clearing Broker on the day of trade registration.

In the situation where the incorrect commission is attached to a trade on a given day, a commission adjustment can be submitted to ASX Clear (Futures) to correct the Commissions Earned and Commissions Owed for the relevant party.

Where a trade is returned to the Executing Broker the following day as a result of incorrect allocation, a commission adjustment can be lodged to amend the original commission flow.

For the purposes of the Commission Adjustment, the Give Up Broker is the Commission Earned party and the Receiving/Clearing Broker is the Commission Owed party.

If the commission attached to the trade is greater than the correct rate, the Commission Earned party is debited, and the Commission Owed party is credited.  If the commission attached to the trade is less than the correct rate, the Commission Owed party is debited, and the Commission Earned party is credited.  The commission rate and total amount is GST inclusive.

Fee Adjustment

A Fee adjustment can occur between two participants in the situation where an expired contract has not been successfully given up prior to expiry. In this instance, the executing broker can be reimbursed for fees charged, at the expense of the clearing broker.  The fee rate and total amount is GST exclusive.

Transfer of Positions

A Transfer of positions will arise where a client is changing clearers and their open position must be transferred to the new clearer.   Transfer of positions occur at the previous days settlement price.

Contract Reinstatement

A contract reinstatement will occur where a position in the Participant's account has been netdown resulting in the OM Secur position being less than the actual Participant's position in their Back Office System.  A contract reinstatement will attract a $10+GST charge per contract.

 

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