Consecutive Record Days For SFE 30 Day Interbank Cash Rate Futures

The Sydney Futures Exchange today experienced its second consecutive record trading day in its 30 Day Interbank Cash Rate Futures contract. Traded volume reached 19,667 contracts, following yesterday’s record of 18,390 contracts.

The total traded volume for the month was a record 120,090 contracts, with an average daily volume for November of more than 5,400 contracts. Open Interest also reached a record level of 110,680 contracts with a notional value of over $332 billion.

“The record volumes and level of open interest highlights the suitability of this contract as a risk management tool for short dated interest rate risk and the outright and spread trading opportunities it presents for a broad range of domestic and offshore users.” said Peter Hiom, General Manager, Exchange Business Development.

Open positions exist in eleven of the twelve contract months available, concentrated primarily in the December 2004, January 2005 and March 2005 contracts. Deutsche Bank AG is the Official Market Maker in the 30 Day Interbank Cash Rate Futures, making two-way markets in all 12 monthly contracts.

The SFE 30 Day Interbank Cash Rate Futures contact was introduced in August 2003.