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Refco Connects Directly To The Sydney Futures Exchange Via The Chicago Communications Hub Providing Customers With Direct Electronic Access

Date 24/06/2002

SFE Corporation Limited (holding company for the Sydney Futures Exchange) is pleased to announce the introduction of direct trading access to its Australian derivative products in the United States via the front end trading system provided by Refco Group Ltd LLC.

Refco is one of the first Futures Commission Merchants (FCMs) in the US to provide customers with electronic access to SFE's derivative products via the SFE Chicago Communications Hub and their choice of trading system. Refco provides trading systems via the Internet or a dedicated network solution.

"We are very excited by the launch of this new service," commented Phil Galvin, SFE's General Manager of Operations. "Due to Australia's geographic position we see the SFE market as a natural extension of the US trading day. Those traders seeking new and interesting products to trade will find the SFE market an attractive location."

The Refco initiative now provides direct access to a market that offers products with an attractive volatility profile and liquidity second only to the major financial exchanges of the United States and Europe. (SFE is ranked the 10th largest Financial Futures exchange in the world in terms of traded volume according to the FIA Annual Report 2001). The initiative also presents new opportunities to US based traders, with the SFE futures and options market at its most active as the US markets close their trading session.

"This announcement reinforces the international appeal of SFE's derivatives products, connectivity options and time zone", said Robert Elstone, CEO and Managing Director of SFE. "The direct connection of Refco to SFE's Chicago hub also represents a significant international distribution opportunity for our products into the US market."