Market Conventions


AFMA supports a comprehensive system of industry accepted standards and conventions that streamline market practices and ensure Australia’s OTC markets trade at an accepted standard.

The conventions and standards listed below reflect current market practices and are kept up-to-date by our markets and operations committees.

Financial Markets Conventions*


Bank Close Day 

“Bank Close Days” are defined in Section 14B of the Retail Trading Act 2008 (NSW) that apply to the whole of the State of New South Wales. Essentially, days that are not bank close days are weekdays (Monday to Friday) other than NSW public holidays as gazetted under the NSW state government's Public Holidays Act 2010

Market Conventions – Operations

The Market Conventions – Operations are approved by the AFMA Operations Committee

Energy and Carbon Markets Conventions

* Please note:
  • The market standards for foreign exchange markets in Australia are maintained by the Australian Foreign Exchange Committee (AFXC)