The letter noted the progress in developing the ASX futures market, and requested information, including an indicative timeline, on the following measures being considered to develop more active trading in that market:

  1. Development by ASX of a standardised market making agreement including certain specified characteristics, and
  2. Increased transparency on the virtual asset swap contracts, and in particular, the price indexation to ASX futures prices.

The responses from the five major generators and ASX indicated a substantial commitment to making the futures market work. The Authority's letter and the response letters are attached below.

The responses, along with the report by Energy Link were utilised by the Authority to develop the consultation paper published on 1 August 2011.

The Authority would like to thank respondents for their time and engagement on this issue.