ASX Eyes on China Market Opening Office in Hong Kong

25 September 2015 


ASX is an authorised Automated Trading Service provider in Hong Kong
On 1 October 2015, ASX will open a local office in the heart of Hong Kong’s financial district. The office will be headed by Asian Business Development Manager, Mr James Keeley.
ASX’s on-the-ground presence will enable ASX to get closer to and better service its growing customer base in the Asian region.

The new office coincides with the establishment of an ASX direct connection hub in Hong Kong. The hub will provide connectivity from Hong Kong to Australia’s financial markets community in the Australian Liquidity Centre via the ASX Net Global network.
ASX Net Global is ASX’s fast and secure managed network, which already has points of presence in Chicago, London and Singapore. ASX has existing international offices in Chicago and London.

Peter Hiom, ASX’s Deputy CEO said: “Asia is the world’s fastest growing economic region and the source of increasing ASX customer flows. The establishment of an office in Hong Kong, coupled with an expansion of our global hub network, reflects ASX’s commitment to Asia.
“Being closer to our customers in the region allows ASX to deliver a more timely, informed and competitive service. We now have points of presence in every region with strong financial markets communities, enabling ASX customers in the world’s major financial centres to access ASX’s products and services.”

ASIC Publishes Consultation Paper and draft rules on Derivative Transaction Reporting


Derivative trade repositories March 2013


About this paper

This consultation paper seeks the views of stakeholders, including potential operators of derivative trade repositories and potential users of these facilities, on our proposed trade repository regulatory regime.


The draft ASIC Derivative Trade Repository Rules 2013 (derivative trade repository rules) (Attachment 1) set out our proposed requirements for Australian derivative trade repository (ADTR) licensees.


The draft regulatory guide (Attachment 2)sets out our approach to granting ADTR licences and our guidance on the rules.

We invite comments on the specific proposals and questions in the paper and on any other matters in the draft regulatory guide and the draft derivative trade repository rules that are not specifically covered in this paper.


ASX Kicks Start OTC IRS Clearing Consultation

Key features of ASX’s OTC Clearing Service are:

Product coverage
o Initially (Phase 1) standardised A$ denominated interest rate swaps (IRS) and overnight index swaps (OIS) (with A$ forward rate agreements (FRAs) to be introduced in Q3 2013) and subsequently (Phase 2) standardised NZ$ denominated IRS, OIS and FRAs
o Capability to extend currencies and asset classes

Risk management and capital efficiency
o Single default fund extending ASX’s own A$250m contribution and existing Futures Clearing Participant contributions
o Additional initial A$100m contribution from OTC Clearing Participants with risk pro-rata element
o Onshore default management
o Portfolio margining for OTC Clearing Participants combining OTC Derivatives and eligible ASX 24 interest rate futures
o Link to ASX Collateral to enable efficient use of A$ non-cash collateral including eligible semi-government bonds
o Basel III concessional risk weightings for trade exposures and collateral available to ADIs

Operations and technology
o “Real-time” futures style novation within the Australian time zone
o 15 hour operating cycle – potential to extend, based on demand
o Proven Calypso clearing technology
o Connected to MarkitWire for trade submission

Regulatory alignment
o Compliant with Australian regulations: RBA Financial Stability Standards
o Align with international regulatory requirements: Dodd-Frank, EMIR, CPSS-IOSCO