(1) This regulation is made for paragraph 901A(6)(b) of the Act.
(2) Each facility in the following list is prescribed in relation to a class of derivatives if the facility is licensed, authorised or registered to operate as a derivative trade repository for that class of derivatives under a law of a foreign jurisdiction:
(a) DTCC Data Repository (U.S.) LLC;
(b) DTCC Derivatives Repository Ltd.;
(c) DTCC Data Repository (Japan) KK;
(d) DTCC Data Repository (Singapore) Pte Ltd;
(e) Chicago Mercantile Exchange Inc.;
(f) INFX SDR, Inc.;
(g) ICE Trade Vault, LLC;
(h) the Monetary Authority appointed under section 5A of the Exchange Fund Ordinance of Hong Kong;
(i) UnaVista Limited;
(j) a facility determined by ASIC for the purposes of this paragraph.
(2A) ASIC must not determine a facility under paragraph (2)(j), unless ASIC is satisfied that:
(i) the facility has adopted rules, procedures or processes that substantially implement the CPSS-IOSCO Principles applicable to the regulation of derivative trade repositories; or
(ii) the foreign jurisdiction concerned has adopted legislation, policies, standards or practices that substantially implement the CPSS-IOSCO Principles applicable to the regulation of derivative trade repositories; and
(b) adequate arrangements exist for cooperation between ASIC and an appropriate authority responsible for licensing, authorising or registering the facility as a derivative trade repository in the foreign jurisdiction.
(2B) A determination made under paragraph (2)(j):
(a) must be published by ASIC in the Gazette; and
(b) is not a legislative instrument.
(3) Paragraphs (2)(a) to (i) cease to have effect at the end of 30 June 2015.
(4) In this regulation:
CPSS-IOSCO Principles means the principles for financial market infrastructures:
(a) issued in April 2012 by the Committee on Payment and Settlement Systems (the CPSS ) and the International Organization of Securities Commissions (the IOSCO ); and
(b) as supplemented, superseded or modified from time to time by principles, recommendations or standards issued by the CPSS or IOSCO (or a successor of the CPSS or IOSCO).