AUSTRALIA: AFMA Announces Move to T+2 for Australian Fixed Income

Wednesday September 2 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.

The change will reduce counterparty and systemic risk and bring Australia in line with key trading partner economies. Timing for the change was decided by the industry-driven T+2 Steering Committee, which has been working with the financial services industry throughout 2015 to understand the requirements for moving to T+2 from T+3. The change will be particularly relevant to institutions dealing in AUD denominated bonds.

Click on the link above for further details.