There are 5 designated FMI
Read the designation notices for each FMI.
Operated by ASXClear (Futures) Pty Limited.
Designation notice: Financial Market Infrastructures Act Designation Notice (ASXCF) 2023 (PDF, 63 KB)
Owned and operated by CLS Bank International.
Designation notice: Financial Market Infrastructures Act Designation Notice (CLS) 2023 (PDF, 159 KB)
Owned and operated by the Reserve Bank of New Zealand – Te Pūtea Matua
Designation notice: Financial Market Infrastructures Act Designation Notice (ESAS) 2023 (PDF, 178 KB)
Rule changes:
ESAS Section 39(3) Notice of Approval of Rule Change - 23 June 2025 (PDF, 201 KB)
ESAS Section 39(3) Notice of Approval of Rule Change - 6 May 2025 (PDF, 184 KB)
ESAS Section 39(3) Notice of Approval of Rule Change - 9 May 2024 (PDF, 146 KB)
Owned and operated by New Zealand Clearing and Depository Corporation Limited.
Designation notice: Financial Market Infrastructures Act Designation Notice (NZCDC) 2024 (PDF, 378 KB)
Rule changes:
NZCDC Section 39(3) Notice of Approval of Rule Change - 29 June 2026 (PDF, 263 KB)
NZCDC Section 39(3) Notice of Approval of Rule Change - 17 November 2025 (PDF, 139 KB)
NZCDC Section 39(3) Notice of Approval of Rule Change - 22 April 2025 (PDF, 132 KB)
NZCDC Section 39(3) Notice of Approval of Rule Change - 28 March 2025 (PDF, 106 KB)
NZCDC Section 39(3) Notice of Approval of Rule Change - 17 January 2025 (PDF, 117 KB)
Owned and operated by the Reserve Bank of New Zealand – Te Pūtea Matua.
Designation notice: Financial Market Infrastructures Act Designation Notice (NZClear) 2023 (PDF, 64 KB)
About the designation notices
The designation notice for each FMI specifies:
- the FMI and its operators
- the documents that make up its rules
- whether section 103A of the Personal Property Securities Act 1999 applies
- whether the FMI is systemically important
- that a particular operator of the FMI is also a participant of the FMI
- that the specified operator is an operator to whom section 103A of the Personal Property Securities Act 1999 applies
- that the FMI is a pure payment system – this indicates whether the RBNZ is the sole regulator
- that the FMI is a central counterparty – this indicates whether certain exclusion provisions in the case of a participant default apply.
- that subpart 5 applies to the FMI – this indicates whether settlement finality protections apply
- the class or classes within which the FMI falls for the purposes of any standards issued under section 31 that apply to a class or classes of FMI – this indicates what standards the FMI must comply with.
The FMI rules are set out in the designation notice and are a key to how the FMI is defined and operates. Any changes to a designated FMI rules must be approved by the regulator and published.