Search: Close-out netting
RBA Glossary definition for Close-out netting
Close-out netting – An arrangement to settle all contracted but not yet due liabilities to, and claims on, an institution by a single payment, immediately upon the occurrence of one of a list of defined events such as the appointment of a liquidator to that institution.
Search Results
A1. Financial Stability Standards for Central Counterparties | 2014/15 Assessment of ASX Clearing and Settlement Facilities
17 Aug 2023
The ASX Clear Operating Rules give participants the right to close out future obligations (i.e. ... The rules do not interfere with ASX Clear's existing liquidity management arrangements, and ASX will review the continued appropriateness of close-out
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/2014-2015/appendix-a1-financial-stability-standards-for-central-counterparties.html
A1.2 ASX Clear (Futures) | 2014/15 Assessment of ASX Clearing and Settlement Facilities
17 Aug 2023
2014/15 Assessment of ASX Clearing and Settlement Facilities
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/2014-2015/appendix-a1-2-asx-clear-futures.html
A2. Financial Stability Standards for Securities Settlement Facilities | 2014/15 Assessment of ASX Clearing and Settlement Facilities
17 Aug 2023
The certainty of this legal basis in relevant jurisdictions is reinforced by supporting legislation, including the approval of ASX Settlement's netting arrangements under the Payment Systems and Netting Act 1998 ... Legal basis. ASX Settlement's
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/2014-2015/appendix-a2-financial-stability-standards-for-securities-settlement-facilities.html
Appendix B: CME Regulatory Environment and Risk Management | Assessment of Chicago Mercantile Exchange Inc
9 Jun 2023
between the last settlement of variation margin and the close-out of these positions. ... CME targets an ex post coverage of 99 per cent assuming a close-out period of five days.
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/chicago-mercantile-exchange/2018/appendix-b.html
Assessment of Clearing and Settlement Facilities against the Financial Stability Standards | 2015/16 Assessment of ASX Clearing and…
18 May 2023
last settlement of variation margin and the close out of these positions by the CCP. ... Both CCPs also have the powers to restore a matched book via partial or complete termination of contracts if normal close-out processes cannot be carried out.
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/2015-2016/assessment-of-clearing-and-settlement-facilities-against-the-financial-stability-standards.html
Standard 1: Legal basis | A1.2 ASX Clear (Futures) | 2015/16 Assessment of ASX Clearing and Settlement Facilities
18 May 2023
close-out netting’ rights). The rules do not interfere with ASX Clear (Futures)' proposed arrangements for addressing a liquidity shortfall (see CCP Standard 7.9). ... The continued appropriateness of close-out netting rights will need to be assessed
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/2015-2016/asx-clear-futures/standard-01.html
Special Topic – Default Management | 2015/16 Assessment of ASX Clearing and Settlement Facilities
18 May 2023
ASX may also consult with its default brokers and the DMG in determining the appropriate close-out strategy. ... Netting down positions allows for faster execution and lower transaction costs, and mitigates the potential market impact arising from the
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/2015-2016/special-topic-default-management.html
December: 1997-Sample Questionnaire
9 Mar 2023
Media Release
8. Does your institution engage in formal or informal payments netting arrangements for foreign exchange settlements? ... If so, to whom? do these arrangements include close-out netting provisions in the event of default?
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/annex-b.html
December: 1997-Risk Management Practices
9 Mar 2023
Media Release
While some of these agreements provide for payments netting as an option, all have close-out netting provisions in the event of a default by one party. ... The RBA has long supported the introduction of legislation to validate netting arrangements in
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/risk-management-practices.html
December: 1997-Glossary
9 Mar 2023
Media Release
Netting may take several forms which have varying degrees of legal enforceability in the event of default of one of the parties (see also close-out netting, netting by novation and ... Depending on the legal system, obligation netting can find a legal
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/annex-e.html