Document ID: chunk:federal_register_of_legislation:F2024C01107:body:0:p10
Version: federal_register_of_legislation:F2024C01107
Segment Type: other
Provision Reference: 
Character Range: 26822–29767

licensed by ASIC to carry on a business of providing credit ratings in Australia.
Debt Derivative includes:
(a)        a convertible note (except to the extent that Annexure 3 to Schedule 1A provides for the treatment of a convertible note as an equity position);
(b)       an interest rate Swap;
(c)        a Forward Rate Agreement;
(d)       a forward contract over a Debt Instrument;
(e)        a Future over a Debt Instrument and a Future over an index or basket product based on Debt Instruments;
(f)        an index or basket product based on Debt Instruments;
(g)       a Future over an interest rate or interest rate Swap; and
(h)       an Option over a Debt Instrument, an Option over an interest rate and an Option over any of the products referred to in paragraphs (a) to (g),
but does not include an instrument that falls within the definition of Equity Derivative, Foreign Exchange Derivative or Commodity Derivative.
Debt Equivalent means the value of a position in a Debt Derivative that is equivalent to the value had it been a physical position in the underlying Debt Instrument calculated in accordance with Part A3.16 of Annexure 3 to Schedule 1A.
Debt Instrument includes:

(a)        a debt security without call or put provisions;

(b)       a discount security without call or put provisions;

(c)        a non-convertible preference share;

(d)       a redeemable preference share with a fixed and certain date for redemption; and

(e)        an interest in a managed investment scheme investing only in Debt Instruments, mortgages or cash, including an interest in a Hybrid ETF or Other Managed Fund that is issued over physical Debt Instruments only (ignoring any immaterial percentage of cash or Derivatives also included in the Hybrid ETF or Other Managed Fund and used only for hedging purposes),

but does not include an instrument that falls within the definition of Equity, Foreign Exchange or Commodity.

Debt Net Position means an amount calculated in accordance with Part A3.17 of Annexure 3 to Schedule 1A.

Derivative includes:
(a)        an Equity Derivative;
(b)       a Debt Derivative;
(c)        a Foreign Exchange Derivative;
(d)       a Commodity Derivative;
(e)        a Warrant;
(f)        a CFD; and
(g)       a cross-currency Swap,

but does not include an instrument that falls within the definition of Equity, Debt Instrument, Foreign Exchange or Commodity.

Derivatives Market Contract means a Futures Market Contract, an Options Market Contract and any other contract that a Market operator authorises for trading on its Trading Platform as a Derivatives Market Contract.
Derivatives Market Transaction means a transaction between Trading Participants for one or more Derivatives Market Contracts.
Employee in relation to a Market Participant includes a director, employee, officer, agent, representative, consultant or adviser of that Market Participant, or an independent contractor who acts