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.

Rules

ASIC Financial Benchmark (Compelled) Rules 2018 and the explanatory statement

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:

ASIC