Market Conventions
The New Zealand Financial Markets Association coordinates documentation of industry accepted conventions that describe standard interbank practices in New Zealand's wholesale over-the-counter financial markets.
NZFMA's market conventions:
- are intended to streamline interbank transactions in New Zealand's wholesale over-the-counter financial markets,
- are not legally binding,
- can be overridden by specifically negotiated terms, and
- do not override specific contractual terms, such as Issuer documentation for specific debt securities and International Swaps and Derivatives Association (ISDA) documentation for certain derivative contracts.
NZFMA members are generally expected to adhere to NZFMA's market conventions.
General Conventions:
Foreign Exchange Conventions:
- FX & FX Currency Options Conventions (updated 05/20)
- FX Convention for Auckland & Wellington Anniversary Days
- FX Forward Rate Roll Date Conventions
Rates Conventions:
- Conventions for Broker (Interbank) Trades (updated 09/16)
- Convention for Auckland & Wellington Anniversary Days
- Debt Capital Markets Conventions
- Debt Securities Conventions (updated 11/21)
- FRN Pricing Conventions
- Interest Rate Derivative Conventions (updated 12/22)
- Interest Rate Option Conventions (updated 06/19)
- Repurchase Agreement Conventions (05/23)