ASXF foreshadowed our intention to broaden the range of futures contracts available to Australian traders and investors in January 2002 when equity index futures over the S&P/ASX 50™ and S&P/ASX 200™ indices were launched. Since that time ASX Futures Exchange has commenced trading Property Trust index futures, electricity futures and most recently, grain futures. ASX Futures Exchange Pty Limited 18 006 599 364 is a wholly owned subsidiary of Australian Stock Exchange Ltd ASX.
ASX Managing Director and Chief Executive Officer, Richard Humphry, said "ASX is committed to bringing new and innovative products to the Australian market. We believe that there is strong demand for contracts that better meet users needs and can be traded with the transparency and security that ASX listing offers. These specifications have been specifically tailored by ASX to meet those needs and therefore we are confident they will prove attractive and useful to industry participants."
All ASXF wool futures are deliverable, so users can be assured that forward prices reflect the underlying market price. ASXF wool futures prices will be displayed on screen and real time data will be distributed by all major data vendors ensuring transparency and anonymity. ASX has contracted Australian Commodity Investments (ACI) to assist in the development of these agricultural futures products. ACI principals include Man Financial (Man), the world's largest independent futures broker.
Tony Fay, Managing Director Man Financial Australia said "The new ASX Wool contracts, which closely reflect the active physical wool market, will provide wool producers, consumers and merchants with an efficient hedging tool".
