SFE Experiences Strong Trading Week

Trading volume at the Sydney Futures Exchange (SFE) continues to rise, unaffected by demutualisation and ownership issues. More than 947,000 futures and options contracts with a nominal value of A$198 billion were traded at SFE in the week ending Friday, 17 September 1999. This amounts to the third highest trading week for 1999. The week's turnover was 31% up on last year's 723,478 contracts for the same period. The average daily volume during the week was 189,941 futures and options contracts at a nominal value in excess of A$39.6 billion per day. For 1999 thus far, the average daily number of contracts traded equals 118,069 - an increase on 1998's figure of 117,859 contracts per day. The rollover of SFE's 3-Year and 10-Year Treasury Bonds from the expiring September contracts into the December contracts contributed to the higher turnover. As well as experiencing growth in trading volumes, SFE continues to move ahead with strategic alliances and new product listings. In recent weeks SFE has won approval to place SYCOM® IV trading terminals in the United States; voted in favour of partially closing the Trading Floor and moving to full electronic trading; announced a partnership with State Forests of New South Wales to develop the world's first carbon trading market; and launched the AP/ELS range of equity-based futures and options contracts based on indices provided by Dow Jones.