Regulatory Alerts2024-05-08
FMI Act 2021 - Section 39(3) Notice of Approval of Rule Change - Exchange Settlement Account System (ESAS)
The Reserve Bank of New Zealand approved a rule change to the Exchange Settlement Account System (ESAS) under the Financial Market Infrastructures Act 2021. The amendment clarifies the circumstances under which revocation instructions can be actioned or rejected during Gridlock Buster operations within the Settlement Submission Mechanism Notice. This rule change takes effect at 09:00 on 9 May 2024 to ensure participants are properly notified prior to implementation.
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