Effective 1 January 2017, ASX will become the new Bank Bill Swap (BBSW) benchmark rate administrator.
BBSW is the primary short-term rate used in the financial markets for the pricing and valuation of Australian dollar securities and as a lending reference rate. BBSW is currently calculated using a nationally observed best bid and best offer (NBBO) methodology for Prime Bank securities.
In mid-2017, ASX will be moving to a new BBSW calculation methodology – a volume weighted average price (VWAP) calculation as the primary calculation method. The change in methodology will support the recommendation of the Council of Financial Regulators and reflects the evolution of market practice.
ASX will also undertake administration of the BBSW related rates – including End of Day Bank Accepted Bills (EOD BABs).
ASX operates at the heart of Australia’s financial markets and is a core part of the interest rate complex. With a history of successfully operating regulated markets, ASX is well positioned to administer the benchmark Australian interbank rate with integrity and high standards.
Further details are available as follows:
| Public Announcements |
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| ASX media release |
| Information for Subscribers |
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| FAQs |
| Subscriber Order Forms |
| Subscriber Terms & Conditions |
| BBSW Schedule of Fees |
For more information, please contact:
ASX Customer Service
131 279 (within Australia)
+61 2 9338 0000 (International)
ASX Benchmark E-mail Address
benchmarks@asx.com.au