NEW ZEALAND: NZX Announces Amendments to Clearing and Settlement Rules and Procedures, Derivatives Market Procedures

On 15^th October 2021, New Zealand’s Exchange (NZX) Limited and New Zealand Clearing Limited (NZCL) announced that it had made amendments to the Clearing and Settlement Rules and Procedures, and the Derivatives Market Procedures. These amendments are necessary to enable the mandatory migration of open interests from the NZX Derivatives Market to SGX-DT which is expected to take place on 27^th November 2021, although the migration date will be confirmed in the coming weeks.

Please note the dates that the amended Rules and Procedures will take effect on the following dates:

• Clearing and Settlement Rules amendments will take effect on Monday 22^th November, 2021;
• Clearing and Settlement Procedures amendments will take effect on Tuesday 30^th November 2021, subject to the successful completion of the migration; and
• NZX Derivatives Market Procedures amendments will take effect on Tuesday 30^th November 2021 subject to the successful completion of the migration.

Marked-up versions of the amended Rules and Procedures are available below:

• Clearing and Settlement Rules
• Clearing and Settlement Procedures
• NZX Derivatives Market Procedures

Click on the above link for further information