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Exchange Facility

Exchange your Australian Government Securities for exchange-traded Australian Government Bonds

The Australian Government has established a facility that enables investors to voluntarily exchange their Australian Government Securities (Treasury Bonds and/or Treasury Indexed Bonds) for equivalent Exchange-traded Australian Government Bonds (eAGBs).

eAGBs provide the same economic characteristics as their equivalent Australian Government Securities. However, investors in eAGBs have access to a number of service-related benefits not currently received by investors in Australian Government Securities (AGS). These are outlined below.

  • Online access to your holdings through Computershare’s Investor Centre website, enabling investors to manage their account and investor statements.
  • The ability to buy and sell all Australian Government Bond lines on the Australian Securities Exchange (ASX) in trade sizes with a minimum of $100 face value.
  • Real-time market pricing of eAGBs provided by ASX appointed market makers during standard trading hours.

The facility is open to investors on an ongoing basis from 1 July 2018. However, at its sole discretion, the AOFM reserves the right to close the facility at any point.

The Australian Taxation Office has provided a class ruling on the exchange facility (CR 2022/42) determining that a tax event is not triggered for investors that meet certain conditions. If planning to participate you should seek independent advice in relation to the ruling which can be accessed at

Eligibility for participation

If you are an executor or administrator finalising a deceased estate with Treasury Bonds and/or Treasury Indexed Bond holdings, or you are acting as an attorney for a Treasury Bond and/or Treasury Indexed Bond holding, please contact Computershare to determine whether you are eligible to participate in the facility.


To participate in the facility please contact Computershare to request an exchange application form.

You will need a Clearing House Electronic Sub register System (CHESS) Holder Identification Number (HIN) to exchange your holdings to exchange-traded Australian Government Bonds. To obtain a HIN, you will need to contact an ASX broker. Alternatively, if you already have a HIN for other investments you may be able to use your existing HIN.

Please be aware that in order for your Treasury Bonds and/or Treasury Indexed Bond holdings to be exchanged, the registered HIN account details must be the same as the details recorded on the Australian Government Securities Register (your HRN account). In particular, your name and address details must be identical.

If you wish to update your registered details on your HRN account, please contact Computershare Investor Services Pty Limited. If you wish to update the registered details of your HIN account, please contact your broker.

If you choose to participate, the Australian Government will not charge you any fees to exchange your existing investments for eAGBs.

Further Information

If you would like further information on eAGBs, please visit:

Australian Government Bonds website

Exchange-traded Australian Government Bonds section of the ASX website

A guide to Bonds on the government's Money Smart website

All further enquiries concerning the AGS Exchange Facility should be directed to Computershare as the Australian Government’s Debt Registrar. Computershare’s contact details are provided on the Registrar Contact Details page.