Document ID: chunk:federal_register_of_legislation:F2021L00322:body:0:p7
Version: federal_register_of_legislation:F2021L00322
Segment Type: other
Provision Reference: 
Character Range: 20354–23223

being not margined.

Futures
Reporting of net transactions and revaluations are to be reported on a net basis when the financial instrument is a future. Futures should be reported only in item 9.

Futures are exchange-traded forward contracts. They have the following unique features:

       * they have a value of zero for the opening and closing positions as they are fully margined (or settled) daily to square off any mark to market changes;
       * a reporting institution can have several contracts during a period with the exchange that are settled on a net basis.

Values
The valuation basis for all derivatives reported on the ARF 722.0 is the market value effective for the reporting period. Where denominated in foreign currency, market values in foreign currency should be converted to AUD at the spot rate effective as at the end of the reporting period. The value of the underlying financial instrument should not be included, except as it relates to the market value of the derivatives.

Report values on ARF 722.0 as whole dollars.

Standard Business Reporting (SBR)
The accounting type (i.e. credit or debit) is stated for all monetary items and represents the natural accounting balance of the item collected.

Specific instructions

Terms highlighted in bold italics are defined in ARS 701.0.

All derived fields in the form are shaded in grey and are explained in words as a mathematical expression in these instructions.

Examples included under 'Include' and 'Exclude' are examples and should not be taken as an exhaustive list of items to be included or excluded.

Section A: Derivatives with counterparties excluding clearing houses and central counterparties

1.      Derivatives with gross positive mark to market values and resident counterparties excluding clearing houses and central counterparties

Item 1 collects information on the value of derivatives at the beginning and end of the reporting period with resident counterparties, excluding clearing houses and central counterparties. It also collects movements in the value of holdings of derivatives due to transactions and revaluations that occurred during the reporting period.

Futures should be excluded from this item, and reported only in item 9.

Column 1  Report the type of counterparty (see List 1.1 for further details).

Column 2  Report the instrument type (see List 1.1 for further details).

Column 3  Report the opening position which results in a gross positive mark to market value.

          Reporting basis: report column 3 as at the beginning of the reporting period.

          The opening position should be the closing position of the previous quarter, that is, the mark to market value of derivatives in a gross positive mark to market value positions at the end of the previous quarter.

          Item 1.1(3) is a derived item. Report the value of