ASX revised Operating rules procedures for 90 day bank accepted bill futures contract.
Overview of Revisions
Starting with Jan. 2025 contracts, the nearest 2 serial months will be listed at any one time; where settlement day falls on a public holiday, it will be the next business day.
Exercised serial option positions will become futures positions in the next quarterly futures month, not the serial future month; the underlying futures contract is the nearest quarterly settlement month that will expire after the serial option month.
At expiry, serial option positions exercised, will become futures positions in the quarterly settlement month contract; minimum prescribed time between request for quote (RFQ) and entry of orders will not be permitted including serial month contracts.
Specify that contracts of all months except the spot quarterly month and serial months are eligible for the block trade facility; ASX 90-day bank accepted bill futures excluding the serial month contracts are eligible open contracts for portfolio margining.
Trading participants wishing to trade the serial futures, should log into the customer development environments (CDE and CDE+) to test functionality as soon as possible.
Effectiveness
The revised procedures will come into effect on trade date Nov. 11, 2024.
