ASX interest rate futures are priced on the basis of their yield to maturity rather than on the basis of their capital price. Consequently, interest rate contracts on ASX24 similarly trade on the basis of yield, with futures prices quoted as “100 – yield to maturity” expressed in percent per annum.
The tick value on these products varies relative to movement in the underlying rate. These are sometimes called "variable-tick products."
To find out more about variable-tick pricing for IR and XD products, see the ASX Interest Rate Derivatives Pricing Guide.