Clearing margin futures

ASX Clear (Futures) is the Clearing House for all Futures and Options products traded on ASX Trade24 and all eligible OTC products submitted via an approved Affirmation Platform.

Trades executed on ASX Trade24, 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 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.

This diagram illustrates the trade through to the daily settlement process.

ASX 24 Exchange Traded Derivatives – Client Clearing Service

Consultation. On 28 August 2013, ASX informally lodged with ASIC and released for public comment draft operating rules for ASX’s ASX 24 Exchange Traded Derivatives and OTC Interest Rate Derivatives Client Clearing service. Submissions close on 2 October 2013. The consultation paper and draft Operating Rules can be found here.

Second Consultation. On 17 October 2013, ASX informally lodged with ASIC and released for public comment further draft operating rules for ASX’s ASX 24 Exchange Traded Derivatives and OTC Interest Rate Derivatives Client Clearing service.

The second Consultation Paper focuses on certain aspects of ASX’s default management processes for OTC Interest Rate Derivatives and juniorisation of OTC Commitments. Submissions close on 15 November 2013. The consultation paper and draft Operating Rules can be found here.

Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer THE STOCK EXCHANGE: The clearing House. London, antique print c1880
Home (Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer)
  • Caption below print: The clearing house
  • Condition: Good; suitable for framing. However, please note: Verso text quite apparent in margin; The image shown may have been taken from a different example of...
  • Size: 14.0 x 14.0cm, 5.5 x 5.5 inches (Small)
  • Type & Age: Year printed c1880. Antique wood engraved print
  • Verso: There are images and/or text printed on the reverse side of the picture which are likely to show through the page to some extent because the paper is quite...
Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer LONDON: Clearing House, Lombard St, antique print, 1847
Home (Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer)
  • Caption below print: The Clearing-House, in Lombard-Street
  • Condition: Good; suitable for framing. Please check the scan for any blemishes prior to making your purchase.
  • Size: 14.5 x 23.5cm, 5.75 x 9.25 inches (Medium)
  • Type & Age: Year printed 1847. Antique wood engraved print
  • Verso: There are images and/or text printed on the reverse side of the picture. In some cases this may be visible on the picture itself (please check the scan prior...

Popular Q&A

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Who offers the lowest margins for futures contracts?

The brokerages need to maintain at least the minimum margin levels set by the futures exchanges for each contract. You can probably find multiple brokers who use those minimums. Most people only trade a few different underlyings, so go to the web page for the exchange, find out what the exchange-mandated margins are for those contracts, and then look for brokers that don't tack on any house margin requirements on those contracts.

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