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Infrastructure Developments in the Market for Commonwealth Government Securities

Author

Listed:
  • Chris Becker

    (Reserve Bank of Australia)

  • Jonathan Lees

    (Reserve Bank of Australia)

  • Andrew Zurawski

    (Reserve Bank of Australia)

Abstract

The market for Commonwealth Government securities (CGS) is a key financial market in Australia because, among other things, it provides a risk-free benchmark for the pricing of a wide range of fixed income securities. This article discusses aspects of the infrastructure that underpins the market, including: the issuance and ownership of securities; the registry and settlement of these securities; and efforts to promote improved access to the market for retail investors. Several infrastructure changes that have been implemented recently, or are soon to apply, are also discussed. These changes will result in some amendments to statistics published by the Reserve Bank on the CGS market.

Suggested Citation

  • Chris Becker & Jonathan Lees & Andrew Zurawski, 2013. "Infrastructure Developments in the Market for Commonwealth Government Securities," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 47-54, September.
    • Handle: RePEc:rba:rbabul:sep2013-06
    as

    Download full text from publisher

    File URL: https://www.rba.gov.au/publications/bulletin/2013/sep/pdf/bu-0913-6.pdf
    Download Restriction: no
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    References listed on IDEAS

    as
    1. Bobby Lien & Andrew Zurawski, 2012. "Liquidity in the Australian Treasury Bond Futures Market," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 49-58, June.
    Full references (including those not matched with items on IDEAS)

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