FIA has submitted a response to ASX's consultation on amendments to ASX Clear operating rules, which introduce a framework for default management auctions of cleared cash market and derivatives market products.
The response includes suggestions on incentivising auction participation, key considerations for structuring auction pools and feedback on pre-auction hedges. FIA also shared views on reserve pricing and approval for client participation and emphasised the need for clear guidelines on when ASX can cancel an exchange closeout in favour of an auction.
Read the response.
