(published March 3, 2016)

The ISDA Clearing Classification Letter (Australia – ASIC Clearing Classifications) enables counterparties to notify each other of their respective status for clearing requirements. In particular, the Appendices of this letter have been prepared to contain statements which are to be made in order to determine the application of clearing requirements under Australia’s mandatory central clearing regime for over-the-counter (OTC) derivatives of financial institutions. This letter allows counterparties to bilaterally communicate their status by answering a series of questions. Both a short form and a long form version of the ASIC Clearing Classifications have been prepared in Appendix I of the letter. Appendix II contains the form of ASIC Clearing Classification Update Notice. As described above, the Appendices have been prepared in order to aid counterparties with providing status information to determine the application of certain requirements under the ASIC Derivative Transaction Rules (Clearing) 2015 (ASIC Clearing Rules). In particular, this letter and its Appendices may be used by a named entity to meet its requirements under Rule 3.1.2 of the ASIC Clearing Rules. ISDA will consider the drafting of other jurisdiction-specific appendices in due course. The ISDA Clearing Classification Letter was drafted and prepared taking into account the structure of the ISDA EMIR Classification Letter.