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Benchmark conventions and calculation methodologies

Based on international best practice, the calculation methodologies for ASX benchmarks help to ensure transparency and certainty for financial market participants

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Prime Bank Conventions

Short term securities of Prime Banks are generally expected to trade in a consistent way due to the criteria applied to the selection of banks that have been afforded Prime Bank status. 

The Prime Bank Conventions outline the minimum eligibility criteria for the Prime Banks and the ongoing obligations that Prime Banks must adhere to in order to maintain Prime Bank status. Prime Bank Conventions can be found in appendix D of the BBSW Conventions and Methodology.

Fall back provisions

ASX encourages participants to have robust fall back provisions written into their contractual documentation to address the cessation of or Material Change to the BBSW benchmark. Stakeholders should be aware that various factors beyond the control of ASX may necessitate changes to the benchmark. Users of BBSW are advised to periodically consider how they may be affected by the above and to review the suitability of the benchmark in meeting their requirements, giving consideration to the matters in section 6.1 of the BBSW Conventions and Methodology.

ASX maintains a Transitions Policy in accordance with IOSCO Principles for Financial Benchmarks. This can be made available to stakeholders upon request.