Financial benchmarks
Significant financial benchmarks
On 6 June 2018, ASIC made the ASIC Corporations (Significant Financial Benchmarks) Instrument 2018/420, which specifies five significant financial benchmarks.
|
Declaration |
ASIC Corporations (Significant Financial Benchmarks) Instrument 2018/420 and the explanatory statement |
Benchmark Administrators
Licensed benchmark administrators
Listed below are the benchmark administrators that have been licensed to operate in Australia for the purposes of Part 7.5B of the Corporations Act 2001.
You can download a PDF version of the Australian Benchmark Administrators (ABA) licence for each facility listed.
| ABA licensee | Description of facility |
| ASX Benchmarks Pty Limited | Australian Benchmark Administrator in respect of the Australian Bank Bill Swap Rate |
| S&P Dow Jones Indices LLC | Australian Benchmark Administrator in respect of the S&P/ASX 200 Index |
Exempt benchmark administrators
- ASX Clear (Futures) Pty Ltd
- Reserve Bank of Australia
- Australian Bureau of Statistics.
ASIC considers that the Reserve Bank of Australia and Australian Bureau of Statistics may rely on s5A(4) of the Corporations Act, and therefore are not required to be licensed as benchmark administrators and do not require specific exemptions.
Administration Rules
On 6 June 2018, ASIC made the ASIC Financial Benchmark (Administration) Rules 2018, which impose certain key obligations on licensed benchmark administrators and require contributors to licensed benchmarks to cooperate with ASIC.
|
Rules |
ASIC Financial Benchmark (Administration) Rules 2018 and the explanatory statement |
|
Guidance |
Regulatory Guide 268 Licensing regime for financial benchmark administrators (RG 268) |
Compelled rules
On 6 June 2018, ASIC made the ASIC Financial Benchmark (Compelled) Rules 2018 which enable ASIC to require, by written notice, the continued administration of a significant benchmark or compelled submissions to a significant benchmark.
Consultation
On 17 July 2017, ASIC consulted on the financial benchmarks regime in Consultation Paper 292 Implementing the financial benchmark regulatory regime (CP 292).
LIBOR transition
ASIC works closely with other Australian financial regulators to monitor and support the transition away from London Inter-Bank Offered Rate (LIBOR).
Listed below are the LIBOR transition related publications:
- Information Sheet 252 Managing conduct risk during LIBOR transition
- IBOR transition and OTC derivatives transaction reporting
- Joint media release 20-240MR: Regulators urge Australian institutions to adhere to the ISDA IBOR Fallbacks Protocol and Supplement
- Preparation for LIBOR transition: 'Dear CEO' letter (PDF 73 KB)
- Preparation for LIBOR transition: 'Dear CEO' letter feedback (PDF 134 KB)
- Letter to Australian corporations: Preparation for LIBOR transition (PDF 112 KB)
- LIBOR transition: Important questions for directors and corporate treasurers