The BBSW methodology will now be utilizing a larger sample size of market transactions.
Australia’s bank bill swap rate (BBSW), a key determinant and benchmark for the Australian dollar (AUD), has seen a major change in its methodology. The BBSW’s procedure is being amended to reflect a wider set of market transactions. The move is endorsed by both the Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA).
The BBSW is widely referenced in financial contracts, though it has been historically plagued with low trading volumes during the rate set window, given the time of day that the BBSW was measured.
In light of this trend, the BBSW methodology is being shored up to broaden the sample size of market transactions. The move follows on the heels of a successful consultation by ASX, which acts as the administrator of the BBSW. The Exchange had been consulting market participants on the new framework, garnering strong support from both ASIC and the RBA.
ASIC Commissioner Cathie Armour commented: “We believe the ASX BBSW Guidelines will support the market’s trust in the robustness and reliability of BBSW, as the market makes the transition to the new BBSW methodology based on trading in the rate set window. Importantly, the ASX BBSW Guidelines recognise that trades in bank bills should not be done for a purpose of seeking to influence the level at which BBSW is set or maintained.”
The newly retooled ASX BBSW Guidelines justify an important element of the new BBSW methodology. Bolstered by an industry-wide consultation, the new guidelines provide a better synopsis on the trading of bank bills during the rate set window.
Additionally, the ASX BBSW Guidelines set out how these trades should be reported to the ASX to support the timely calculation and publication of BBSW. It is largely expected that banks that issue bank bills will be falling in line with the new guidelines, a move championed by both ASIC and the RBA.
Intuitively, both groups believe the rate set window should be the most liquid part of the day in the bank bills market. This should garner improved results for all types of market participants, many of whom are now more likely to reap the best outcomes for their institutions and their respective clients by trading during this period.
“The Government recently introduced legislation to implement financial benchmark regulatory reform and ASIC has consulted on proposed financial benchmark rules. We have worked with the ASX and are confident that the ASX BBSW Guidelines will meet the requirements under Australia’s proposed regime, including the proposed ASIC rules,” explained Ms. Armour.
Australia’s bank bill swap rate (BBSW), a key determinant and benchmark for the Australian dollar (AUD), has seen a major change in its methodology. The BBSW’s procedure is being amended to reflect a wider set of market transactions. The move is endorsed by both the Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA).
The BBSW is widely referenced in financial contracts, though it has been historically plagued with low trading volumes during the rate set window, given the time of day that the BBSW was measured.
In light of this trend, the BBSW methodology is being shored up to broaden the sample size of market transactions. The move follows on the heels of a successful consultation by ASX, which acts as the administrator of the BBSW. The Exchange had been consulting market participants on the new framework, garnering strong support from both ASIC and the RBA.
ASIC Commissioner Cathie Armour commented: “We believe the ASX BBSW Guidelines will support the market’s trust in the robustness and reliability of BBSW, as the market makes the transition to the new BBSW methodology based on trading in the rate set window. Importantly, the ASX BBSW Guidelines recognise that trades in bank bills should not be done for a purpose of seeking to influence the level at which BBSW is set or maintained.”
The newly retooled ASX BBSW Guidelines justify an important element of the new BBSW methodology. Bolstered by an industry-wide consultation, the new guidelines provide a better synopsis on the trading of bank bills during the rate set window.
Additionally, the ASX BBSW Guidelines set out how these trades should be reported to the ASX to support the timely calculation and publication of BBSW. It is largely expected that banks that issue bank bills will be falling in line with the new guidelines, a move championed by both ASIC and the RBA.
Intuitively, both groups believe the rate set window should be the most liquid part of the day in the bank bills market. This should garner improved results for all types of market participants, many of whom are now more likely to reap the best outcomes for their institutions and their respective clients by trading during this period.
“The Government recently introduced legislation to implement financial benchmark regulatory reform and ASIC has consulted on proposed financial benchmark rules. We have worked with the ASX and are confident that the ASX BBSW Guidelines will meet the requirements under Australia’s proposed regime, including the proposed ASIC rules,” explained Ms. Armour.
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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