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Treasury Notes

Treasury Notes are a short-term discount security redeemable at face value on maturity. Terms are less than twelve months. Treasury Notes are issued to assist with the Australian government’s short-term funding requirements.

Market makers

The AOFM acknowledges that a secondary market for Treasury Notes remains under-developed relative to that of other Australian Government Securities. This makes it difficult to identify market makers in the same way as for Treasury Bonds and Treasury Indexed Bonds.

For the benefit of wholesale investors, the AOFM has listed (alphabetically) the names and contact details of institutions who are regular participants in Treasury Note tenders. Of this group, five institutions can be distinguished from the remainder based on the consistent level of their activity in the primary market. They are (in alphabetical order):

  • Australia and New Zealand Banking Group Limited;
  • Commonwealth Bank of Australia;
  • National Australia Bank Limited;
  • TD Securities; and
  • Westpac Banking Corporation.

As the market evolves the AOFM will update this information accordingly.

ANZ logo
Australia and New Zealand Banking Group Limited
Sydney: +61 2 8037 0220 
Singapore: +65 6681 8862
London: +44 20 3229 2070
Commonwealth Bank logo
Commonwealth Bank of Australia
Sydney: +61 2 9117 0020
London: +44 20 7329 6444 
National Australia Bank logo
National Australia Bank Limited
Sydney: +61 2 9295 1166
London: +44 20 7726 2747
Toronto Dominion logo
TD Securities
Singapore: +65 6500 8031
London: +44 20 7628 4334
New York: +1 212 827 7301
Australia: 1800 646 497 (toll free)
Westpac logo
Westpac Banking Corporation
Sydney: +61 2 8204 2711
Singapore: +65 6309 3877
London: +44 20 7621 7620
New York: +1 212 551 1806
BofA Securities logo
BofA Securities
Sydney: +61 2 9226 5294
London: +44 20 7995 5605
Deutsche Bank logo
Deutsche Bank AG
Sydney: +61 2 8258 1444
London: +44 20 7547 1931
Tokyo: +81 3 5156 6195
HSBC logo
HSBC Bank Australia Limited
Sydney: +61 2 9255 2018
Hong Kong: +852 2822 2246
RBC Capital Markets logo
RBC Capital Markets
Sydney: +61 2 9033 3222
London: +44 207 029 0472
UBS logo
UBS AG
Sydney: +61 2 9324 2222
London: +44 20 7567 3645