The Australian Securities & Investments Commission has published a proposal to remake the ASIC Derivative Transaction Rules (Clearing) 2015 to maintain Australia’s over-the-counter derivatives central clearing regime once the current rules sunset on 1 April 2026. ASIC proposes to remake the rules in substantially the same form, with minor administrative updates, an extension of exemptive relief for post-trade risk reduction exercises, and the expiry of transitional relief for certain swaptions on 1 April 2026. The clearing rules set mandatory central clearing requirements for certain over-the-counter interest rate derivative products for in-scope Australian and foreign financial entities that meet the clearing threshold, based on specified product features including currency of denomination, floating rate index and termination date range. Entities can also voluntarily opt in to comply, including to access substituted compliance arrangements where equivalent clearing requirements apply in key foreign jurisdictions. ASIC is seeking industry feedback on the proposed remake and changes by 5pm AEDT on 28 November 2025.
Australian Securities & Investments Commission 2025-10-28
Australian Securities & Investments Commission consults on remaking OTC derivatives clearing rules ahead of 1 April 2026 sunset
ASIC proposes to remake the Derivative Transaction Rules (Clearing) 2015 to extend Australia's OTC derivatives central clearing regime beyond 1 April 2026. The proposal includes minor updates, extended exemptive relief for post-trade risk reduction, and ending transitional relief for certain swaptions. The rules mandate central clearing for specific OTC interest rate derivatives for qualifying financial entities, with voluntary compliance options.