ASX will be listing a new AUD 20 Year Government Bond Futures contract with an increased face value of $65,000 under the contract code, LT. This contract replaces the existing 20 Year Bond Futures XX contract. No new XX contracts will be listed beyond the current December 2018 expiry (XXZ8). Further information regarding the LT contract specification can be found in Attachment A.

The new LT contract will be available for trading from 5.12pm on 10 August 2018 (Trade Date 13 August 2018).  

The new 20 Year Government Bond Futures contract has received regulatory clearance and will be available for offshore customers to trade.

Managing the transition of positions to the new contract

The listing date for the new contract is in preparation for the September roll period. It is expected that participants will manage the transition to the new LT contract through an inter-commodity spread will be set up between the September XX contract and the December LT contract at the time of listing.

Should there be any open interest in the December XX contract at the time of listing, an inter-commodity spread between the December XX contract and the December LT contract will also be made available.

Further details on delisting the XX contract will be provided in due course.

Exchange Fees

To coincide with the listing of the new 20 Year Government Bond Futures contract, ASX will be providing a six month fee holiday between 13 August 2018 and 13 February 2019. After this period, the trading (including Block Trades) and mandatory settlement fee is AUD $0.90 (plus GST). The EFP trade fee is AUD $0.70 (plus GST) per contract.

Initial Margins

Price Scanning Range (PSR)

Inter-Spread Commodity Concessions (ICC)

Data Vendor Codes

The following vendor codes have been provided:

• Bloomberg: LTYmy CMDTY

• Reuters: YLTmy

Additional vendor codes will be published on the ASX website available here.

What do I need to do by when?

Participants should familiarise themselves with the new LT contract specifications found in Attachment A of this notice.

Participants should also ensure the new 20 Year Bond Futures contract is set up in all relevant systems ahead of the first trading day, 5.14pm on 10 August 2018. Please refer to ASX Notice 0853.18.08 for information on setting Pre-Trade Risk Management (PTRM) Limits.

Customer Technical Support

1800 663 053

+61 (02) 9227 0372

cts@asx.com.au

Need more information?

Issued by

Candice Trevenna, Product Manager, CCP Clearing

Contact information

Candice Trevenna

Product Manager, CCP Clearing
+61 (02)  9227 0595
candice.trevenna@asx.com.au

Kristye van de Geer

Manager, Interest Rate Markets

+61 (02) 9227 0130

Kristye.vandegeer@asx.com.au

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