SFE 30 Day Interbank Cash Rate Futures Volumes Continue To Grow

The recently launched (August 12, 2003) 30 Day Interbank Cash Rate futures contract, listed on the Sydney Futures Exchange, continues to gain trading momentum and wide market support from a diverse range of trading community participants seeking to manage short term interest rate risk exposures.

The contract is based on the Interbank Overnight Cash Rate (published by the Reserve Bank of Australia) and provides market participants and commentators with a monthly benchmark tracker for official cash rates in Australia (equivalent to the Federal Funds Rate futures contract in the US and the Euro Over Night Index Average futures contract in the European capital markets).

As of last Friday's close (October 31st) open interest in the SFE 30 Day Interbank Cash Rate Futures contract had grown steadily to 20,845 contracts with 26,243 contracts having traded since its initial listing 12 weeks ago.

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