Timing of Record, Determination and Payment Dates

The purpose of this guideline is to address the lack of consistency amongst Australian issuers with respect to the number of days between Determination Date, Record Date and Payment Date which currently varies across transactions from between 2 to 10 business days.

It was developed by an ASF working group comprising issuers, investors, trustees, lawyers, Austraclear and arrangers and suggests the following be adopted for future transactions from [8 November 2022] to ensure that any potential ‘blackout period’ for trading asset backed securities is as short as possible.

  1. The Record Date be disclosed in the term sheet of each new primary market transaction; 
  2. the Determination Date and Record Date should occur on the same business day; 
  3. the Determination Date should be defined as occurring on the date being no more than three business days before the Payment Date.


ASF Market Guidline on timing of Record, Determination and Payment Dates

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