By guest contributor, Terry Toohey, Atchison Consultants The Australian Securities Exchange (ASX) has introduced a new method for the calculation of bank bill swap rate (BBSW) based on actual transactions of bank bills and negotiable certificates of deposit (NCD). Following revelations banks had been involved in attempted manipulation of the process for setting BBSW, the Australian government introduced a regulatory framework which sets rules for benchmarks including BBSW. The volume-weighted...