ASX 24 – A subset of Inter-commodity ratio spreads, UDC and some EDC functionality has been disabled

Sun 5 Nov 2023

As per ASX Notice 1143.23.11 ASX has identified an issue that has the potential to impact the execution of a subset of Inter-commodity ratio spread orders, User Defined Combinations (UDCs) and some Exchange Defined Combinations (EDCs). This technical issue is isolated to the bait pricing on these contracts only. In rare circumstances the functionality may impact the bait pricing generated.

As a precaution, a subset of Inter-commodity spread instruments that are not 1:1 ratio will be made temporarily unavailable to trade while ASX investigates the issue. The creation of User Defined Combination (UDC) instruments will also be temporarily disabled. Butterflies on 90 Day Bank Bills will remain available to trade but will not interact with the order books of their component legs through implied order functionality.

All other Inter-commodity spreads, Intra-commodity (or calendar) spreads, Packs, Bundles and Strips will remain available including their relative implied order functionality.

EDCs that remain available:

  • Intra-commodity spreads between listed months of a specific contract
  • Inter-commodity spreads that have a defined ratio of 1:1 and a subset of the ratio inter-commodity spreads
  • Bank Bill Packs and Bundles
  • Energy Strips
  • Bank Bill Butterflies

All impacted contracts are listed in Appendix 1. Table 1 of Appendix 1 outlines the ratio inter-commodity spreads that will continue to be available

We are working as a priority to restore this functionality and further updates will be provided as soon as they are available.

ASX can confirm this specific potential issue has not occurred in production, and is taking this action as a precaution while it investigates the issue.

What do I need to do by when?

ASX 24 trading participants and end users are advised to review and if necessary adjust their order entry and trading strategies to operate without the specified exchange provided Inter-commodity ratio spreads, UDC and EDC functionality.

Please contact Trading Operations if you have any questions or if you need any further clarification.

Need more information?

Issued by

Ben Jackson
General Manager, Market Operations

Contact information

Trading Operations
T 1300 655 560 | (+61 2 9256 0677)