Trades executed on ASX Trade 24, or OTC trades affirmed on an ASX approved Affirmation Platform, are submitted to ASX Clear (Futures) for registration.
Once accepted and novated by ASX Clear (Futures), the Full Participant will receive notification of a Market Contract between the Full Participant and ASX Clear (Futures). The Full Participant will advise the allocation instructions and the Open Contract will be registered in the Clearing Participant’s name.
Where the Full Participant and Clearing Participant are separate entities, the trade will be given up and only registered to the Clearing Participant on their acceptance.
At the end of each clearing day, ASX Clear (Futures) will margin the Clearing Participant a daily variation margin based on the movement in the value of the positions, and an initial margin calculated on the open positions held across the House and Client account for settlement the following business day. The Clearing Participant will arrange settlement via ASX Austraclear and/or ASX Collateral.