26-Jun-2024 |
The AFMA Fallback Language Template for Floating Rate Notes (FRN) was first published in November 2022 on the AFMA website for incorporation in FRN securities documentation as suggested template language to assist the market. This template has been lightly revised to clarify some language and definitions based on experience with its use.
|
Other |
31-May-2024 |
AFMA has just published an update to its Due Diligence Planning Memorandum (DDPM) dated June 2024.
|
Other |
01-Jan-2024 |
AFMA has published the a new set of Gas Conventions. The conventions are intended to streamline market practices in the Australian gas market and provide the basis for standardised trading in the over-the-counter gas market.
|
Other |
01-Jan-2024 |
AFMA Members and market participants are advised that AFMA’s Environmental Products Committee has adopted amendments to the AFMA Environmental Products Conventions to align them with recent changes to the Environmental Products Addendum and Spot Contract.
The amendments will take effect from 1 January 2024.
|
Other |
01-Jan-2024 |
AFMA Members and market participants are advised that AFMA’s Carbon Committee has adopted amendments to the AFMA Carbon Conventions to align them with recent changes to the Environmental Products Addendum and Spot Contract.
The amendments will take effect from 1 January 2024
|
Other |
23-Nov-2023 |
AFMA member and other market participants are advised of amendments to the Interest Rate Derivatives Conventions
|
Other |
21-Nov-2023 |
AFMA member and other market participants are advised of the implementation of the inaugural Debt Primary Market Conventions
|
Other |
06-Jul-2023 |
AFMA Members and market participants are advised that AFMA has made a non-material amendment to the Cash Conventions.
|
Other |
06-Jul-2023 |
AFMA Members and market participants are advised that AFMA has made non-material amendments to the following Market Conventions
|
Other |
09-Jun-2023 |
The IBOR Transformation Australian Working Group (ITAWG), issued a Statement on USD LIBOR cessation.
|
Rates |
11-Apr-2023 |
The Australian Financial Markets Association (AFMA) and the Carbon Market Institute (CMI) have come together in an affiliate membership arrangement to support the development of the Australian carbon market and establish high professional standards for participants in the market.
|
Association |
27-Mar-2023 |
AFMA Members and market participants are advised that AFMA’s Environmental Product Committee has adopted changes to the AFMA Environmental Products Conventions
|
Other |
05-Jan-2023 |
AFMA Members and market participants are advised that AFMA’s Swaps Committee voted unanimously to adopt four changes to the AFMA Interest Rate Derivatives Conventions
|
Other |
13-Dec-2022 |
AFMA has published the initial version of the Carbon Markets Conventions. The conventions are intended to streamline market practices in the Australian Carbon Credit Unit (ACCU) market and provide the basis for standardised trading in the over-the-counter ACCU market
|
Other |
29-Nov-2022 |
AFMA would like to advise members and stakeholders that, on or around 13 October 2022, AFMA’s main website (www.afma.com.au) was compromised by an automated cyber-attack, the aim of which was to enhance search indices to promote traffic to a non-related website. AFMA became aware of the attack on 17 October and immediately executed an incident response plan, including rolling back all AFMA websites to their state prior to the attack and enhancing security on all websites. AFMA has a high level of confidence that no personally identifiable information was exposed by the attack as such data is not directly accessible from the website. Accordingly, AFMA’s position is that it has no notification obligation arising from the event but issues this notice for transparency.
Please contact AFMA’s Company Secretary, Rob Colquhoun, at [email protected] if you would like any further information.
|
Association |
02-Nov-2022 |
The Australian Financial Markets Association (AFMA) and the Australian Banking Association (ABA) have commenced exploring ways to collaborate in the interest of our respective members.
|
Association |
02-Nov-2022 |
The AFMA Fallback Language Template for Floating Rate Notes (FRN) has ben published to the AFMA website for incorporation in FRN securities documentation as suggested template language to assist the market.
|
Other |
25-Oct-2022 |
AFMA Members and market participants are advised of the addition of guidance to AFMA’s Reciprocal Purchase Agreements Conventions (Repo) Conventions, this designed to communicate best practice for dealers when considering procedural aspects of client relationships and steps which may serve to reduce settlement risks
|
Other |
13-Sep-2022 |
Market participants are advised that the Australian Government has declared Thursday 22 September 2022 as a one-off national public holiday to allow people to pay their respects for the passing of Queen Elizabeth.
|
Other |
23-Aug-2022 |
Market participants are advised of the following minor amendments to AFMA’s Electricity Market
Conventions.
|
Other |
01-Aug-2022 |
Central Repository for Primary Market Issuance Documents
|
Other |
29-Jun-2022 |
Cash Market Information for ADI RITS members
|
Other |
04-Apr-2022 |
The IBOR Transformation Australian Working Group (ITAWG) has issued a Market Statement dated 4 April 2022 on the use of Interest Rate Benchmarks in Australia
|
Other |
23-Feb-2022 |
The Master Equity Capital Market Terms have been updated to the version dated 23 February 2022. The Master Equity Capital Market (ECM) Terms provide industry developed standard terms to streamline the confirmation of institutional allocations on equity capital raisings in Australia.
|
Other |
01-Dec-2021 |
Market participants are advised of the following amendments to AFMA’s Market Conventions.
|
Other |
26-Nov-2021 |
Members of AFMA’s Swaps Committee have agreed that the Australian swaps market will begin trading BBSW/SOFR cross currency basis swaps as the primary basis swap in AUD/USD cross currency swap transactions from Monday, 29 November 2021.
|
Other |
22-Oct-2021 |
The Australian Financial Markets Association (AFMA) has welcomed the Final Report of the Senate Committee into Australia as a Technology and Financial Centre, particularly the recommendation that the Government legislate a Global Markets Incentive (GMI) by end 2022.
|
Other |
22-Oct-2021 |
The Australian Financial Markets Association (AFMA) has today called on the Government to take the opportunity arising from the end of LIBOR to remove an existing flaw in the tax framework applying to foreign banks and restore competitive neutrality..
|
Rates |
15-Sep-2021 |
AFMA has issued a Consequence Management Standard setting out Principles to guide member firms in the design and implementation of a consequence management policy for their employees. The standard may be found within the Guidelines section of the AFMA website main page
|
Other |
14-Sep-2021 |
AFMA is supporting the Reserve Bank’s efforts to see the Australian market adopt robust fallback language following the publication of Reserve Bank Repo Eligibility Criteria.
|
Other |
01-Sep-2021 |
The Australian Financial Markets Association (AFMA) is concerned that the passage of legislative measures in relation to the Offshore Banking Unit (OBU) regime in Schedule 2 of the Treasury Laws Amendment (2021 Measures No. 2) Bill 2021 may be delayed due to an unrelated amendment that has been moved, as this outcome could harm Australia’s standing and be a deterrent to international investors.
|
Taxation |
23-Aug-2021 |
AFMA Appoints Brett Harper as its new Chief Executive Officer
|
Association |
04-Aug-2021 |
AFMA supports reform of cross border financial regulation
|
Regulation |
04-Jun-2021 |
Market participants are advised of the following amendments to AFMA’s Credit Products Conventions and Long Term Government Debt Securities Conventions to further clarify the conditions to be satisfied for the use of the AFMA formula applicable to FRNs with zero floor coupons..
|
Other |
12-May-2021 |
AFMA welcomes prospect of more efficient cross border financial regulation
|
Taxation |
06-Apr-2021 |
Market participants are advised of the following amendments to AFMA’s Market Conventions, effective immediately.
|
Other |
16-Mar-2021 |
Loss of OBU Regime will Harm Australia’s Competitiveness.
|
Taxation |
08-Mar-2021 |
Master ECM Terms dated 8 March have been released
|
Other |
05-Feb-2021 |
The Australian Financial Markets Association (AFMA) and Macquarie University are pleased to announce a long-term collaboration agreement, under which Macquarie Business School (MQBS) will provide education services for AFMA’s Accreditation program.
|
Other |
03-Feb-2021 |
Market participants are advised of the following amendment to be made to AFMA’s Market Conventions.
|
Other |
11-Jan-2021 |
Market participants are advised of the following amendments to AFMA’s Market Conventions, effective 1 February 2021.
|
Other |
27-Nov-2020 |
Market participants are advised of the following amendments to AFMA’s Market Conventions, effective 30 November 2020
|
Other |
20-Nov-2020 |
AFMA has produced a Conduct Training Practice Guide to assist member firms to design and implement effective education and training programs for their employees in relation to matters of individual and company conduct in the financial markets. The Guide sets out the principles that underpin an effective training program for employees in relation to conduct
|
Other |
12-Oct-2020 |
AFMA has released the AFMA Electricity Derivatives Turnover Report, which provides annual turnover data for the exchange and over-the-counter (OTC) electricity derivatives markets for 2019-2020 and earlier years
|
Other |
12-Oct-2020 |
The Australian Financial Markets Association (AFMA) welcomes the International Swaps and Derivatives Association’s (ISDA) announcement on 9 October 2020 of the upcoming launch of its IBOR (interbank offered rates) Fallbacks Protocol (the Protocol) and IBOR Fallbacks Supplement (the Supplement), which focus on strengthening existing and new derivatives contracts with robust fallback language.
|
Other |
03-Sep-2020 |
AFMA welcomes the release of the Senate Select Committee on Financial Technology and Regulatory Technology’s Interim report and, specifically, Recommendation 14 for the Government to put in place a framework for the Council of Financial Regulators, supported by Austrade, to regularly consider and report on Australia’s international competitiveness in financial services.
|
Other |
26-Aug-2020 |
In its Pre-Budget submission to the Federal Government, the Australian Financial Markets Association (AFMA) has called for action to support the vital role of financial markets in the economic recovery from the COVID-19 pandemic.
|
Other |
10-Aug-2020 |
To assist the market, AFMA has published today the definition of AONIA to clarify its meaning. It is available here
|
Other |
14-Jul-2020 |
Credit Products Conventions and Long Term Government Debt Securities Conventions Amendments
|
Other |
03-Jul-2020 |
Market participants are advised of the following amendments recently made to AFMA’s Market Conventions
|
Other |
15-May-2020 |
The Australian Financial Markets Association (AFMA) has welcomed ASIC’s guidance issued today to equity market participants in relation to the volume of share trading, setting out its expectations for all market participants to act appropriately to ensure Australia’s equity market remains resilient.
|
Other |
17-Apr-2020 |
Market participants are advised of the following amendments recently made to AFMA’s Market Conventions
|
Other |
23-Mar-2020 |
Market participants are advised that the Master ECM Terms have been updated, effective 23 March 2020. The current version of the Master ECM terms is available on the AFMA website
|
Other |
13-Jan-2020 |
Market participants are advised of the following amendments made and new conventions introduced to AFMA’s Market Conventions, effective 13 January 2020
|
Other |
05-Nov-2019 |
Market participants are advised of the following amendments made to AFMA’s Reciprocal Purchase Agreement (Repo) Conventions
|
Other |
23-Oct-2019 |
The Board of the Australian Financial Markets Association (AFMA) today announced it has appointed Robert Bedwell, Chief Executive Officer, Australia & New Zealand, J.P. Morgan as its new Chair.
|
Association |
02-Oct-2019 |
Market participants are advised of the following amendments recently made to AFMA’s Market Conventions
|
Other |
02-Oct-2019 |
AFMA has released the AFMA Electricity Derivatives Turnover Report, which provides annual turnover data for the exchange and over-the-counter (OTC) electricity derivatives markets for 2018/2019 and earlier years.
|
Other |
07-Aug-2019 |
AFMA CEO, David Lynch, has been elected Chair of the International Council of Securities Associations (ICSA), the first Australian representative to hold the position.
|
Association |
05-Jun-2019 |
Market participants are advised of the following amendments recently made to AFMA’s Market Conventions
|
Other |
20-Feb-2019 |
AFMA has released the AFMA Electricity Derivatives Turnover Report, which provides annual turnover data for the exchange and over-the-counter (OTC) electricity derivatives markets for 2017/2018 and earlier years
|
Other |
18-Dec-2018 |
AFMA is publishing new guidelines on its website dealing with conduct of dealers when managing swaps reference price transactions in the Australian market
|
Other |
26-Oct-2018 |
AFMA Commits to Working with Government on OECD Review into Offshore Banking Unit Regime
|
Association |
03-Sep-2018 |
As a result of increased interest from regulatory bodies, market participants and other observers of the electricity derivative markets, AFMA has released a report on electricity derivative turnover.
|
Other |
02-Jul-2018 |
AFMA is making available on its website for member use a one page notices document AFS Licensee Notices on Research Independence for Issuers on an IPO (Issuer Notices) to provide initial notices to issuers regarding research independence requirements set out in the Australian Securities and Investments Commission (ASIC) Regulatory Guide 264 (Sell Side Research) (RG 264).
|
Regulation |
18-Apr-2018 |
In its role as administrator of the BBSW benchmark rate the ASX is preparing to transition the primary calculation of the rate from a national best bid and best offer (“NBBO”) methodology to that of a volume weighted average price (“VWAP”). In order for this to be effective a selling counterparty of prime bank paper will be required to report all secondary market trades that occur within the VWAP trade set window, but not through an approved trading venue, to a trade reporting agent
|
Other |
19-Jan-2018 |
The Australian Financial Markets Association (AFMA) has launched a Public Register for Statements of Commitment to adhere to the FX Global Code (the Code) for use by participants in the Australian wholesale foreign exchange market. The Register was developed in collaboration with ACI Australia.
|
Association |
30-Nov-2017 |
Market participants are advised that the NTI Conventions are being amended, effective 4 December 2017, to introduce the rolling maturity pool convention, which replaces the early and late bucket pooling convention.
|
Association |
22-Nov-2017 |
The Australian Financial Markets Association (AFMA) today released the 2017 Australian Financial Markets Report, its annual review of Australia’s over-the-counter and exchange-traded financial markets.
|
Association |
19-Oct-2017 |
David Lynch, CEO of the Australian Financial Markets Association, welcomed today's announcement by the Minister for Revenue and Financial Services of the appointment of James Shipton as the next chairman of ASIC.
|
Other |
24-Jul-2017 |
Entities regulated by the Australian Prudential Regulation Authority (APRA, and such entities, APRA covered entities) are required to have in place margining practices in relation to non-centrally cleared derivatives. These requirements are contained in the Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives (CPS 226).
|
Regulation |
25-May-2017 |
The Australian Financial Markets Association (AFMA) welcomes the launch of the FX Global Code for the wholesale foreign exchange (FX) market.
|
Other |
15-May-2017 |
Following consideration by the AFMA Credit Product Committee of market feedback on debt capital market issuance disclosure requirements, it has been resolved to recommend as good practice broad and consistent dissemination of price and tenor guidance.
|
Association |
11-May-2017 |
Members are advised of the following change to the Inflation Products Conventions that the Inflation Products Committee has unanimously agreed to.
|
Association |
10-May-2017 |
The Australian Financial Markets Association (AFMA) has expressed concern regarding the cornerstone budget announcement of the Government to impose a Major Bank Levy, with projected revenue over the forward estimates period of $6.2 billion. The announced levy applies to Australia’s five largest banks, with liabilities in excess of $100 billion
|
Other |
08-Feb-2017 |
AFMA congratulates the Government on the passage of legislation today to introduce the professional standards framework for advisers dealing with retail customers.
|
Other |
30-Nov-2016 |
The Australian Financial Markets Association (AFMA) has today announced that it will transfer administration of the BBSW benchmark rate to ASX. It is the intention of both parties that ASX will administer BBSW from 1 January 2017.
|
Other |
29-Nov-2016 |
The Board of the Australian Financial Markets Association (AFMA) has appointed as its Chairman John Knox, CEO, Credit Suisse Australia.
|
Association |
27-Nov-2016 |
An update on Operational Developments to Facilitate Market Change
|
Other |
30-Sep-2016 |
The Australian Financial Markets Association today concluded its 2016 Prime Bank Survey, and from this process the current Prime Banks were re-elected, there being no other nominating institutions
|
Association |
28-Sep-2016 |
Members are advised of the following changes to the Electricity and Environmental Product Conventions that their respective Markets Committees has unanimously agreed to and which have been ratified by the Market Governance Committee.
|
Association |
06-Sep-2016 |
Members are advised of the following changes to the Interest Rate Derivatives Conventions that the Swaps Committee has unanimously agreed to and which have been ratified by the Market Governance Committee.
|
Other |
02-Sep-2016 |
Following consideration by the AFMA Credit Product Committee of market feedback on debt capital market issuance disclosure, it has been resolved to recommend as good practice broad and consistent dissemination of debt primary market issues in a standard format.
|
Other |
25-Aug-2016 |
As advised in the 19 July Market Notice 2016_5, AFMA is changing the calculation methodology for BBSW to place it on a sounder footing going forward. One component of the new methodology is the introduction of an algorithmic fall-back stage, which would come into operation in the event that the NBBO calculation process fails to compute a BBSW rate for all tenors. It is expected that the algorithmic fall-back would be rarely used in practice.
|
Other |
22-Aug-2016 |
AFMA has made a decision to discontinue the provision of Environmental Products data product on 30 September.
|
Other |
09-Aug-2016 |
AFMA welcomes the release today of Reports 486 and 487 by ASIC in relation to sell-side research and corporate advisory confidential information and conflicts, and a review of the cleanliness of the Australian equity market, respectively.
|
Other |
22-Jul-2016 |
AFMA has previously advised the market that it intends to step away from its function as administrator of the Bank Bill Swap (BBSW) Benchmark Rate and will transfer responsibilities to an appropriately qualified entity. This will provide AFMA with greater capacity to conduct the policy advocacy and market development activities that form the core of its mission.
|
Association |
19-Jul-2016 |
The Council of Financial Regulators, in its February Discussion Paper Evolution of the BBSW Methodology, asked AFMA to finalise a set of amendments to the BBSW methodology by end-June 2016. AFMA has concluded this process and has settled the changes to the future methodology
|
Other |
08-Jul-2016 |
AFMA's Electricity Committee has selected a proposed methodology for the CRP, after consideration of the feedback from a general market consultation process that occurred in March/April
|
Other |
11-May-2016 |
AFMA has determined that benchmark administration has now evolved to a point where it is appropriate for it as an industry body to step away from the function of being a benchmark administrator. This will provide AFMA with greater capacity to conduct the policy advocacy and market development activities that form the core of its mission.
|
Association |
06-May-2016 |
The Australian Financial Markets Association has welcomed the focus in the 2016/17 Budget on promoting growth in the Australian economy. The Government has laid out a cohesive narrative to support the transition of the Australian economy into one that promotes Australia's competitiveness in the region and enhances Australia's financial services export capability.
|
Other |
02-May-2016 |
The Australian Financial Markets Association has welcomed the Attorney-General's Department Report into Australia's AML/CTF Regime (the Report), released on 29 April 2016
|
Other |
20-Apr-2016 |
The Australian Financial Markets Association (AFMA) believes that ASIC should be properly funded to meet its responsibilities and that participants in the financial services sector should be prepared to provide a proportionate amount of ASIC's funding through cost recovery. While incentives in the regulatory system would work better under a mixed funding model, AFMA understands the Government's fiscal challenges and its decision to adopt a user pays industry funding model for ASIC.
|
Other |
15-Apr-2016 |
Cash Conventions changes specific to ESA holder banks
|
Other |
29-Mar-2016 |
The Australian Financial Markets Association (AFMA) welcomes the announcement today by the Treasurer, Scott Morrison, on competition in cash equities clearing.
|
Regulation |
22-Mar-2016 |
The AFMA Cash Committee has endorsed the Reserve Bank's proposal to adopt a new data collection methodology to be applied to the calculation of the Interbank Overnight Cash Rate (IBOC), which is the Reserve Bank Board's operational target for the implementation of monetary policy. The new methodology would eliminate the need for data submissions by banks and rely instead on data extracted from RITS, however implementation is conditional upon the adoption of the proposed amendments to the market conventions governing market practice specific to all IBOC cash transactions between bank Exchange Settlement Account holders.
|
Other |
09-Feb-2016 |
AFMA considers today's release of the Council of Financial Regulators Discussion Paper on BBSW methodology a useful progression in the industry's dialogue in relation to benchmark design
|
Other |
31-Jan-2016 |
The finance sector is critical to Australia's future economic growth, according to a report released today from the Australian Financial Markets Association (AFMA).
|
Other |
08-Jan-2016 |
The financial and insurance services sector is the largest of the 12 industries that make up the market sector of the Australian economy, with a 9.9% share of output compared to the next largest sector mining with a 9.8% share. Productivity growth in the financial and insurance sector has outperformed productivity growth in the market sector as a whole on average over the 24 years to 2013-14. The financial sector contributes directly to productivity growth through its share of the economy, but also indirectly through its role in determining the quantity and quality of investment. The financial sector mobilises saving, while financial markets allocate that saving to its most productive uses in the form of investment. The efficiency of this capital formation process is an important driver of productivity growth, which is the main long-run driver of national income per capita.
|
Other |
13-Dec-2015 |
Further to Market Notice 6-2015 sent on 4 December 2015, for the purposes of clarity, the new convention of T+2 relates only to the settlement date of the payment of cash under the swap after maturity. The start date for the calculation of the cash flows is unaffected.
|
Other |
13-Dec-2015 |
AFMA’s Repo Committee has approved an increase in the minimum cash value per line of bonds or securities delivered under General Collateral (GC) transactions, from $20 million to $50 million.
|
Other |
03-Dec-2015 |
AFMA’s Swaps Committee has approved the following changes to the Interest Rate Derivative Conventions on 10 November 2015
|
Other |
03-Dec-2015 |
The AFMA Swaps Committee approved a change in settlement for Overnight Index Swaps from T+1 to T+2 at their most recent meeting on 10 November 2015. This change was subsequently ratified by the Market Governance Committee on 25th November 2015. To enable market participants to operationally prepare for the change, the Swaps Committee agreed to have an effective date of the convention change of 1st January 2016
|
Other |
22-Oct-2015 |
AFMA has an ongoing, mutually beneficial dialogue with the financial regulators in relation to benchmark matters and we have engaged with them on the consultation paper prior to its release. The RBA participates as an observer on the AFMA committees that deal with benchmark matters. We agree with the Council of Financial Regulators assessment that the market has changed and volumes are low at the time of day BBSW is set, with significantly larger volumes traded outside of this period. It is this issue, rather than the specific calculation methodology, that the Council is looking to address.
|
Regulation |
19-Oct-2015 |
The Australian Financial Markets Association (AFMA) has welcomed the commitment by the Government to maintain an efficient and resilient financial system in its response to the Murray Financial System Inquiry Report.
|
Other |
05-Oct-2015 |
The Australian Financial Markets Association (AFMA) today released its 2015 Australian Financial Markets Report, an authoritative survey of Australia’s over-the-counter and exchange-traded financial markets.
|
Other |
30-Sep-2015 |
The Australian Financial Markets Association today concluded its 2015 Prime Bank Survey, and from this process the current Prime Banks were re-elected, there being no other nominating institutions.
|
Other |
22-Sep-2015 |
Further to AFMA Market Notice 4-2014 on 24 July 2014, and for the purposes of clarity, the “carbon reference price” for the purposes of the AFMA Australian Carbon Benchmark Addendum continues to be $0/tonne of CO2-e (exclusive of GST).
|
Regulation |
21-Sep-2015 |
The Australian Financial Markets Association (AFMA) has welcomed the new Ministry and its emphasis on building an innovative, productive and competitive economy. CEO David Lynch said the industry body was particularly looking forward to working with the newly appointed Treasury Ministers on the range of policies required to achieve these objectives.
|
Regulation |
28-Aug-2015 |
The Australian Financial Markets Association (AFMA) believes that ASIC should be properly funded to meet its responsibilities and participants in the financial services sector should be prepared to provide a proportionate amount of ASIC’s funding through cost recovery charges.
|
Regulation |
19-Aug-2015 |
The Australian Financial Markets Association (AFMA) has announced that Australia will move to T+2 settlement for fixed income products on March 7th, 2016.
|
Other |
14-Aug-2015 |
AFMA is working with member firms and the Australian regulatory authorities to develop a robust, near-risk-free benchmark interest rate for the Australian market. The indications are that a near-risk-free benchmark will, for certain applications, hold attraction to users of existing interest rate benchmarks. That said, the new benchmark is being designed to complement the existing Bank Bill Swap (BBSW) rate, which has a vital ongoing role as a benchmark in the financial system.
|
Other |
17-Jul-2015 |
The Board of the Australian Financial Markets Association (AFMA) has elected Steve Harker, Managing Director and Chief Executive Officer of Morgan Stanley Australia, as its new Chair.
|
Association |
08-Jul-2015 |
AFMA supports ASIC recommendations on administration of financial benchmarks. In particular, AFMA endorses the recommendation that administrators of systemically-important benchmarks administered in Australia adopt and implement the IOSCO Principles.
|
Regulation |
11-Jun-2015 |
AFMA with a group of 10 other industry Associations around the globe wrote on 15 June 2015 a letter to international financial sector authorities and local regulators, including ASIC and the RBA, concerning the need for improved consistency in data reporting requirements. This is an issue which AFMA has long championed both locally and internationally.
|
Other |
04-Jun-2015 |
The Australian Financial Markets Association (AFMA) has called for a number of changes to the Australian taxation system to remove barriers to Australia’s competitiveness.
|
Taxation |
27-May-2015 |
The Australian Financial Markets Association (AFMA) has welcomed today's introduction into Parliament of reforms to Australia's Offshore Banking Unit (OBU) regime. The OBU regime is a key pillar of Australia's push to export financial services and allows financial institutions in Australia to compete for internationally mobile financial business with regional financial centres, like Singapore and Hong Kong, which brings income and employment to Australia.
|
Regulation |
15-Mar-2015 |
The Australian Financial Markets Association (AFMA) is working with the regulatory authorities to develop a robust risk-free benchmark interest rate for the Australian market.
|
Other |
07-Dec-2014 |
The release of the Financial System Inquiry's final report is a major step in the Government's process to develop the Australian financial system in a way that best meets the evolving needs of Australian businesses, households and government. AFMA agrees with the Report's assertion that there is not a strong case to change Australia's institutional arrangements for making and implementing financial stability policy.
|
Regulation |
26-Nov-2014 |
The Australian Financial Markets Association (AFMA) welcomes the announcement by Senator Cormann that the Government has agreed with the Opposition that a revised regulation to progress the broadly supported elements of the disallowed Future of Financial Advice (FOFA) Regulations will be re-made by the Government before the end of this year.
|
Regulation |
07-Oct-2014 |
Financial markets volumes continue to tread water with mixed outcomes across individual markets, according to data published by the Australian Financial Markets Association (AFMA) in its 2014 Australian Financial Markets Report (the Report) released this evening. Data in the Report confirms the ongoing importance of efficient and healthy financial markets to the national economy.
|
Other |
30-Sep-2014 |
The Australian Financial Markets Association today announced the conclusion of its 2014 Prime Bank Survey and the re-election of the existing AFMA Prime Banks, effective immediately.
|
Other |
24-Jul-2014 |
On the 17th July 2014, the Parliament of Australia repealed the Clean Energy Act with retrospective effect to 1 July 2014. Consequently, and for the purposes of clarity, the “carbon reference price” for the purposes of the Addendum is $0/tonne of CO2‐e (exclusive of GST) with respect to each Calculation Period commencing at or after 12:00am (AET) on 1 July 2014.
|
Regulation |
01-Jul-2014 |
The amended Bank Bill Swap (BBSW) Benchmark Rate Conventions as communicated in Market Notice 1-2014 have now been implemented.
|
Other |
27-Jun-2014 |
An issue has arisen as to the appropriate operation of the LIBOR Cap, as contained in Section 160ZZA of the ITAA 1936 to AUD notional borrowings by a foreign bank following the cessation of AUD LIBOR on 31 May 2013. AFMA and the ATO have agreed an Administrative Solution whereby that provides a safe harbour for taxpayers that apply the proxy rate (determined with reference to BBSW plus an appropriate margin).
|
Taxation |
24-Jun-2014 |
The AFMA Electricity Committee has made a determination with respect to the calculation of the Carbon Reference Price (CRP) for the financial year 2014/2015.
|
Regulation |
20-Jun-2014 |
The Australian Financial Markets Association has welcomed the Government's announcement today about clarifications to the FOFA regime as the next step in finalising what has been an extensive consultation and revision process.
|
Regulation |
02-Jun-2014 |
The BBSW Conventions have been amended and are pending implementation. The amendments have been designed to improve a number of operational procedures whilst not altering the fundamental characteristics of the BBSW rate. All stakeholders, including subscribers, have an opportunity to provide feedback to AFMA during a 2 week consultation period commencing Monday 2 June 2014 and closing 5:00pm Friday 13 June 2014.
|
Other |
14-May-2014 |
The Australian Financial Markets Association (AFMA) believes that the priority the Government is giving to returning the Federal Budget to surplus over time is appropriate. The budgetary strategy complements the Government’s deregulation initiatives to promote economic growth. However, AFMA is concerned about the announcement in the Budget last night of a significant rise in the AUSTRAC levy, which will increase the cost of regulation for business. This comes on top of large compliance costs associated with major financial regulatory reforms in recent years.
|
Regulation |
30-Mar-2014 |
The Australian Financial Markets Association (AFMA) has today made a submission to the Financial System Inquiry being chaired by Mr David Murray AO. The forward looking nature of the Inquiry gives it an important role in helping to shape the financial system so it most effectively supports the future development of the Australian economy.
|
Regulation |
24-Feb-2014 |
The Australian Financial Markets Association (AFMA) welcomes the release today by the Australian Securities Exchange (ASX) of its Consultation Paper on the Introduction of T+2 Settlement for cash equities.
|
Other |
19-Dec-2013 |
The Australian Financial Markets Association (AFMA) conducted a survey to better understand the needs of reference rate users. The survey sought to understand the demand for interest rate benchmarks in general and the current usage of the Bank Bill Swap (BBSW) benchmark rate more specifically.
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Other |
19-Dec-2013 |
The Australian Financial Markets Association (AFMA) has welcomed the Government's announcement today of a number of amendments to the Future of Financial Advice (FOFA) provisions in the Corporations Act, which are aimed at reducing compliance cost for business, advisers and consumers who access financial advice.
|
Regulation |
13-Dec-2013 |
The Australian Financial Markets Association (AFMA) today welcomed the confirmation by the Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, that the Government will proceed with tax law amendments to confirm the existing practice in relation to instalment warrants and, thus, remove a potential tax uncertainty for investors.
|
Taxation |
20-Nov-2013 |
The Australian Financial Markets Association (AFMA) believes the Financial System Inquiry is well-timed, as we need to check the capacity of the financial system to meet the needs of businesses and households in a time of significant change.
|
Regulation |
13-Nov-2013 |
The Australian Financial Markets Association (AFMA) and Women in Banking and Finance (WiBF) have today jointly released a set of initiatives that aim to attract more women into graduate positions in the banking and finance industry. More information about the initiatives can be accessed here
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Other |
05-Nov-2013 |
The Australian Financial Markets Association (AFMA) is encouraged by the Government's commitment today to reduce uncertainty for business by tackling the backlog of announced but unlegislated tax measures.
|
Taxation |
29-Oct-2013 |
The Financial System Inquiry is well-timed as we need to check the capacity of the financial system to meet the needs of businesses and households in a time of significant change. The inquiry needs to be forward looking by anticipating the financial services required to support our economy and by identifying the features of a financial system that will meet these needs in the most effective and lowest cost way. A broad-based inquiry that encompasses all facets of the financial system including institutions, markets and infrastructure is the only way to achieve this.
|
Regulation |
09-Oct-2013 |
On 15 February 2012 the AFMA Electricity Committee passed an AFMA Resolution (as defined in the Addendum) determining that the 'carbon reference price' for the purposes of the Addendum was $23/tonne of CO2-e (exclusive of GST) for the 2012/2013 financial year. On 4 July 2013 the AFMA Electricity Committee passed an AFMA Resolution (as defined in the Addendum) determining that the 'carbon reference price' for the purposes of the Addendum was $24.15/tonne of CO2-e (exclusive of GST) for the 2013/2014 financial year.
|
Other |
08-Oct-2013 |
The 2013 Australian Financial Markets Report released today shows Australia's financial markets continued to grow steadily during 2012-13, contributing to Australia's economy through increased funding for Australian companies and infrastructure and supporting future growth.
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Other |
04-Oct-2013 |
Commencing 18 October 2013, and subject to successful testing, Yieldbroker Pty Ltd will participate in the BBSW benchmark rate set process as an Approved Venue, having met all relevant criteria and approved by the Market Governance Committee.
|
Rates |
30-Sep-2013 |
The Australian Financial Markets Association (AFMA) welcomes the announcement by the Assistant Treasurer, Senator Arthur Sinodinos, yesterday that the Government will not proceed with the start date of 1 October 2013 for the changes to the Offshore Banking Unit (OBU) regime originally announced in the 2013-14 Budget.
|
Taxation |
30-Sep-2013 |
The Australian Financial Markets Association today announced the conclusion of its 2013 Prime Bank Survey and the re-election of the existing AFMA Prime Banks, effective immediately.
|
Other |
27-Sep-2013 |
The Australian Financial Markets Association (AFMA) today migrated to NBBO calculation methodology for BBSW benchmark rates.
|
Rates |
28-Jun-2013 |
The Australian Financial Markets Association (AFMA) today welcomed the announcement by the Assistant Treasurer that the Government would amend the "qualified person" rules to address integrity concerns associated with dividend washing.
|
Taxation |
28-Jun-2013 |
The Australian Financial Markets Association (AFMA) has welcomed the announcement by the Assistant Treasurer today that the Government will defer the implementation of proposed changes to the Offshore Banking Unit (OBU) regime until1 October 2013, together with the release of Treasury's Discussion Paper entitled "Improving the Offshore Banking Unit Regime."
|
Regulation |
15-May-2013 |
The Australian Financial Markets Association (AFMA) expressed caution about a number of measures announced in the 2013-14 Federal Budget.
|
Taxation |
26-Mar-2013 |
|
Rates |
17-Mar-2013 |
AFMA welcomes ASIC's evidence-driven approach to its review of these areas of market activity. The report highlights that the benefits from market innovation are real and illustrates the importance of regulation that promotes development, while preserving a market that is orderly and fair to its users.
|
Regulation |
10-Feb-2013 |
AFMA welcomes the release of the report of the Council of Financial Regulators on competition in clearing Australian cash equities.
|
Regulation |
10-Jan-2013 |
Treasurer Wayne Swan has today released proposed amendments to the prospectus disclosure and director liability regimes under the Corporations Act that are designed to encourage greater issuance of corporate bonds to the retail sector by Australian companies.
|
Regulation |
20-Dec-2012 |
AFMA's submission to the Board of Taxation's review of tax arrangements applying to permanent establishments has called for the Board to recommend the immediate abolition of the 'LIBOR cap'.
|
Taxation |
26-Nov-2012 |
Regulations have been released as part of the Future of Financial Advice (FOFA) reforms that exempt brokerage paid to representatives, and stamping fees connected to capital raisings, from the conflicted remuneration ban under FOFA.
|
Regulation |
19-Nov-2012 |
The market integrity rules announced today by the Minister for Financial Services and Superannuation, Bill Shorten, are a significant set of measures in response to the technological evolution of the markets.
|
Regulation |
04-Oct-2012 |
The 2012 Australian Financial Markets Report released today shows Australia's financial markets largely held their ground and continued to serve the needs of the domestic economy well, despite ongoing periods of turbulence in major international markets.
|
Other |
28-Sep-2012 |
The Australian Financial Markets Association today announced the conclusion of its 2012 Prime Bank Survey and the re-election of the existing AFMA Prime Banks, effective immediately.
|
Other |
29-Aug-2012 |
The Australian Financial Markets Association (AFMA) welcomes the changes to the design of the Australian emissions trading scheme announced yesterday by the Australian Minister for Climate Change and Energy Efficiency, the Hon Greg Combet MP.
|
Other |
20-Aug-2012 |
AFMA and RVS enter into license agreement to establish AFMA RAVA. Rate Validation Services (RVS) today announced plans to launch a new rate validation service to the Australian banking industry with assistance from the Australian Financial Markets Association (AFMA). The agreement marks an important milestone for Rate Validation Services in their two-year development of an innovative price validation service covering every financial markets instrument in the Australian market place.
|
Other |
13-Aug-2012 |
ASIC has today released Consultation paper 184 which deals with automated trading.
|
Regulation |
28-Jun-2012 |
With today's release of its draft Market Integrity Rules ASIC has confirmed that it has been responsive to industry concerns raised in relation to its wide ranging consultation on equity market reform.
|
Regulation |
15-Jun-2012 |
The Government has released draft regulations that aim to minimise the impact of the Future of Financial Advice (FOFA) ban on conflicted remuneration in relation to stockbroking activities.
|
Regulation |
25-May-2012 |
The Australian Financial Markets Association today welcomed the announcement by Minister Shorten and Minister Bowen of a significant investor visa. The visa is a step in the right direction for encouraging capital investment and will increase the attractiveness of Australia as destination for business people and investors.
|
Other |
25-May-2012 |
AFMA Welcomes the decision by the Assistant Treasurer to ask the Board of Taxation to examine the continued appropriateness of the LIBOR cap and the suitability of any other such tax benchmark for internal funding by foreign bank branches operating in the Australian market.
|
Other |
09-May-2012 |
The Australian financial markets industry is concerned about the significant increase in the cost of industry supervision announced in last night's Federal Budget. While the industry supports effective market supervision, this growth in regulatory costs paid for by the industry is excessive and contrasts with the discipline the Government has exhibited in general expenditures that are met by the government directly.
|
Other |
03-May-2012 |
The Chairman of the Australian Financial Markets Association, Rick Sawers, today announced the appointment of David Lynch as Executive Director of AFMA.
|
Other |
19-Apr-2012 |
AFMA welcomes the Government consultation paper on 'Implementation of a framework for Australia's G20 over-the-counter derivatives commitments'.
|
Other |
03-Apr-2012 |
AFMA agrees with and supports ASIC's stated determination to maintain the Australian market's international competitiveness, as outlined in today's direction statement on market reform.
|
Regulation |
29-Mar-2012 |
The Council's recommendations to the Treasurer, released today, would strengthen the hand of regulators in dealing with a rapidly changing environment for financial market infrastructure (FMI).
|
Other |
22-Mar-2012 |
Leading AFMA member broking firms are growing increasingly concerned as ASIC moves towards finalising its approach to the regulation of dark liquidity. Dark liquidity is the term commonly used to describe 'crossings' where brokers match buy and sell orders before reporting trades to the exchange.
|
Other |
14-Mar-2012 |
The views expressed in the article in The Age, "Double' carbon tax fear on power bills" (14 March 2012), reflect a misunderstanding of the purpose and effect of the AFMA Carbon Benchmark Addendum and could give rise to unnecessary concern for consumers.
|
Other |
23-Feb-2012 |
The Australian Financial Markets Association (AFMA) has been advised by BNP Paribas Australia that it requests to be removed from the AFMA list of Prime Banks.
|
Other |
19-Jan-2012 |
Online securities trading offers great flexibility for share investing from home for competitive prices and is increasingly popular.
|
Other |
12-Dec-2011 |
|
Other |
01-Dec-2011 |
|
Other |
01-Dec-2011 |
|
Taxation |
29-Nov-2011 |
|
Other |
27-Nov-2011 |
|
Other |
10-Nov-2011 |
|
Other |
05-Oct-2011 |
|
Taxation |
04-Oct-2011 |
|
Other |
26-Sep-2011 |
|
Other |
26-Aug-2011 |
|
Other |
12-Aug-2011 |
|
Other |
10-Jul-2011 |
|
Other |
16-Jun-2011 |
|
Other |
06-May-2011 |
|
Other |
04-May-2011 |
|
Other |
29-Apr-2011 |
|
Other |
08-Apr-2011 |
|
Other |
05-Apr-2011 |
|
Other |
02-Mar-2011 |
|
Regulation |
30-Jan-2011 |
|
Regulation |
17-Jan-2011 |
|
Taxation |
17-Jan-2011 |
|
Other |
03-Nov-2010 |
|
Regulation |
24-Oct-2010 |
|
Regulation |
29-Sep-2010 |
|
Association |
27-Sep-2010 |
|
Association |
12-Jul-2010 |
|
Regulation |
08-Jul-2010 |
|
Regulation |
29-Jun-2010 |
|
Taxation |
11-May-2010 |
|
Taxation |
02-May-2010 |
|
Taxation |
30-Mar-2010 |
|
Other |
17-Mar-2010 |
|
Taxation |
18-Jan-2010 |
|
Other |
14-Jan-2010 |
|
Other |
26-Nov-2009 |
|
Association |
10-Sep-2009 |
|
Other |
24-Aug-2009 |
|
Regulation |
21-Aug-2009 |
|
Taxation |
25-Jun-2009 |
|
Regulation |
18-Jun-2009 |
|
Taxation |
22-May-2009 |
|
Regulation |
07-May-2009 |
|
Regulation |
04-May-2009 |
|
Other |
03-Mar-2009 |
|
Association |
29-Jan-2009 |
|
Regulation |