ASX 24 Trading Mechanisms
The information below is provided only as a general overview.
The Block Trade Facility (BTF) is an off-market trading facility, that enables market participants to bilaterally arrange transactions (e.g. via OTC negotiation) which can be registered for clearing by an ASX 24 Participant.
The ASX 24 Operating Rules in conjunction with the ASIC Market Integrity Rules for Pre-Negotiation allow Participants to withhold orders and pre-arrange trades off-market before bringing the negotiated business to the Exchange for matching within ASX Trade 24.
An Exchange For Physical (EFP) is an off market transaction between wholesale participants which involves the switching (or exchanging) of an OTC derivative for an exchange traded derivative.
A strip trade is defined as a trade where 4 consecutive* quarters of a futures product (with the same volume for each of those quarters) are bought or sold simultaneously, at a weighted average yearly price.
The ASX Trade 24 Custom Market is available for non-standard, spreads, strips or other multi-legged strategies where ASX 24 has not designated a predetermined market on ASX Trade 24. Custom Market Orders can incorporate combinations of futures, predetermined strips, caps and option products.