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Electronic Book Provider rules prioritise best-bid allocation and optional anchor investor portion, standardising bidding, disclosures and settlement. Revision of the Electronic Book Provider (EBP) framework prescribes mandatory and optional use of the EBP platform for defined primary issuances, identifies eligible participants, mandates issuer disclosures in placement memoranda and term sheets, and replaces time-priority allocation with price- or yield-based allocation principles favouring the best bid. It introduces an optional anchor investor portion within the base issue with issuer-selected anchors and allocation limits, caps green shoe size, standardises bidding windows and anonymous order-driven bidding formats, requires detailed arranger disclosures, specifies pay-in and settlement via clearing corporations or escrow, prescribes debarment for pay-in defaults, allocates duties to issuers, RTAs and EBPs, and mandates annual CISA audit. The provisions take effect from the specified commencement date.
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Electronic Book Provider rules prioritise best-bid allocation and optional anchor investor portion, standardising bidding, disclosures and settlement.
Revision of the Electronic Book Provider (EBP) framework prescribes mandatory and optional use of the EBP platform for defined primary issuances, identifies eligible participants, mandates issuer disclosures in placement memoranda and term sheets, and replaces time-priority allocation with price- or yield-based allocation principles favouring the best bid. It introduces an optional anchor investor portion within the base issue with issuer-selected anchors and allocation limits, caps green shoe size, standardises bidding windows and anonymous order-driven bidding formats, requires detailed arranger disclosures, specifies pay-in and settlement via clearing corporations or escrow, prescribes debarment for pay-in defaults, allocates duties to issuers, RTAs and EBPs, and mandates annual CISA audit. The provisions take effect from the specified commencement date.
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