Notice

Fallback provisions for Australian and New Zealand Bank Bill Futures

What's this about:
  • ASX 24 Market
  • Rates
  • Interest Rate Futures
  • Trading
  • Clearing
  • Settlement
  • Product
  • Operations
  • Rules
  • Australian
  • New Zealand
  • 90 Day Bank Bill Futures
  • fallback provisions
  • BBSW
  • BKBM
  • Show more
Notice reference number: 0593.23.06
Date published: 21/06/23
Effective as of: 21/07/23
Last updated: 21/06/23

On 8 June 2022, ASX released a consultation paper on proposed fallback provisions to be applied to the Australian and New Zealand 90 Day Bank Bill Futures in the event of permanent cessation of the 3 month BBSW and/or BKBM benchmark(s). This is in line with global benchmark reform and best practice guidance issued by regulators worldwide to include fallback language in all contractual arrangements.

The consultation closed on 6 July 2022.

Market participants are advised that following the closure of the consultation period and regulatory clearance being received, the ASX 24 Operating Rules Procedures will be amended to include fallback provisions.  Please refer to the attachment for the amended Procedures.

What do I need to do by when?

No action is required

Need more information?

Issued by

Kristye van de Geer,
Senior Manager, Interest Rate Products

Contact information

Kristye van de Geer
+61 (02)  9227 0130
kristye.vandegeer@asx.com.au

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