ISDA publishes Australian clearing classification letter

03 March 2016

ISDA published a new classification letter that will enable counterparties to notify each other of their status for clearing requirements under Australia’s mandatory central clearing regime for over-the-counter derivatives.

 ISDA prepared the appendices in order to help counterparties provide classification-status information to determine the application of certain requirements under the ASIC Derivative Transaction Rules (Clearing) 2015. The letter and the appendices may be used by a named entity to meet its requirements under Rule 3.1.2 of the ASIC clearing rules. The ISDA Clearing Classification Letter is currently available for use with appendices relating to the ASIC clearing rules. ISDA will consider drafting other jurisdiction-specific appendices in due course.

Full letter

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