Today’s announcement means the seven-time champions have now locked in eight of their 10-strong roster for next year's title defence when the Swifts will look to claim back-to-back titles for the first time since the club's 2006-2008 threepeat.
Fraser, 22, is already a double Premiership winner having come through the local pathway with the Netball NSW Waratahs (now QBE Swifts Academy) before being elevated to Training Partner status and then going on to cement her place in the senior setup.
A Baulkham Hills junior, she played in both the 2019 and 2021 Grand Final successes and is delighted to commit to the club for another two years.
"Like so many netballers all over NSW I grew up supporting the Swifts so to say I'm happy to re-sign would be an understatement," Fraser said.
"Over the past numbers of seasons I have been lucky to take the court with players I grew up admiring and wanting to emulate, so now getting to call them teammates makes me immensely proud.
"This past season has been particularly testing with so much time on the road but I feel it's only brought us closer together as a group. Our vision is to keep building and adding to the legacy of the Swifts, which inspires not just us but countless netball fans all over the state.
"I also can't wait to play more games back in Sydney and push for higher honours. I've played over 30 times for the Swifts but only a handful of those games have been at home so getting to run out as Premiers at Ken Rosewall Arena will be a very special moment."
Former Giants defender O'Shannassy has been elevated from Swifts Training Partner to the main roster on a one-year deal.
The 22-year-old made her elite netball debut in 2019 but missed the 2020 season due to illness.
A proud Manly Warringah junior, O'Shannassy was originally in the Swifts pathway in 2016 when she played for Briony Akle's Netball NSW Waratahs before moving to the Giants and returning in 2021.
O'Shannassy said she was ready to make the step back up to the top level.
"I've loved being a part of the Swifts environment over the past 12 months and feel I'm in a great place ahead of what's going to be a huge season," she said.
"It is a very special club with a proud history and I love how this current group of players have set the standard for the rest of the competition, so getting the opportunity to play regularly with the likes of Sarah Klau and Maddy Turner is very exciting for me.
"I've had the chance to work with Briony as my coach down the years via the Netball NSW pathway and getting to reconnect with her is a real full circle moment, while Bec Bulley is another great mentor to have in my corner.
"I'd like to thank my family, friends and everyone at the club who's helped get me back to this level and I'm ready for this fresh start."