Average daily volume during the month of April was 6,931 contracts, up from 6,643 set in February 2005.
Peter Hiom, General Manager, Exchange Business Development said, “The record trading volume in April was driven by changes in sentiment regarding the likelihood of the Reserve Bank of Australia raising the Official Cash Rate. As market expectations of an increase declined, trading activity moved to spread and hedging activity further out along the yield curve.” Mr Hiom added, “This activity has also been assisted by the larger number and greater diversity of user trading the 30 day Cash Rate Future.”
Open positions exist in eleven of the twelve contract months available, concentrated primarily in the first six monthly 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.
