SFE Half-Yearly Volume Up 9.7%

Year to date trading volume at the Sydney Futures Exchange (SFE) is 9.7% higher in 2000 than for the January to June period last year.

For the first six months of this year, 16.7 million futures and options, valued at A$5,295 billion, were traded at a daily average of 133,375 contracts. In 1999, 15.2 million futures and options contracts were traded during the equivalent time.

SFE's two most traded products have led the growth in volume. Turnover in 3-Year Bond futures is up 18% to almost 6.4 million contracts and 90-Day Bank Bill futures rose 8% with more than 3.9 million contracts exchanging hands.

SFE's equity products also experienced significant rises. Trading of SPI® futures amounted to 2.1 million contracts, 16% higher than in 1999, and SPI® options grew by 35% to 771,453 contracts traded.

A new daily turnover record for the SPI® was set on 30 June when 53,413 futures contracts were traded, surpassing the previous high of 46,986 contracts set on 29 March earlier this year.

Volatility in the underlying cash markets, including technology-related falls in the stock market, and hikes in the official interest rate have contributed to the increase in SFE's trading volume.