External Testing of Zero and Negative Interest Rates - Update

What's this about:
  • ASX 24 Market
  • Trading
  • Clearing
  • Product
  • Operations
  • Technology
  • Market Data
  • Compliance
  • Risk
  • Interest Rate Futures
Notice reference number: 0893.19.08
Date published: 29/08/19
Effective as of: 29/08/19
Last updated: 29/08/19

As mentioned in market notice 0690.19.07 released 8 July 2019, ASX has been investigating the impact of zero and negative interest rates on all ASX interest rate products (futures and options over futures) and relevant ASX systems.

Customers have been able to test and validate their own systems and process where interest rate futures prices are greater than or equal to 100.00 in ASX24 Customer Development Environments (CDE and CDE+) since 10 July 2019, with confirmation of readiness required by 9 August 2019.

Due to vendor and participant requests, ASX will continue to make both CDE and CDE+ environments available for testing. All ASX24 futures vendors and ASX Clear (Futures) Clearing Participants are required to now confirm their readiness for handling futures prices greater than or equal to 100.00 by 20 September 2019.   

ASX will remove restrictions preventing orders being entered in interest rate futures products where prices are greater than or equal to 100.00 in ASX24 production environments for trading date 1 October 2019

What do I need to do by when?

If you are an ASX24 futures vendor or ASX Clear (Futures) Clearing Participant,
and haven’t done so already, you will need to provide confirmation to the ASX
that you are able to process zero and negative interest rates for ASX’s interest rate products by 20 September 2019.

Assistance with accessing test environments can be provided by Customer Technical Support (CTS).

Confirmation of readiness should be provided via email directly to CTS or your Technical Account Manager.

Customer Technical Support
1800 663 053
+61 (02) 9227 0372

Need more information?

Issued by

Candice Trevenna,
Product Manager, CCP Clearing

Contact information

Candice Trevenna
Product Manager, CCP Clearing
+61 (02) 9227 0595