SFE Market Begins New Year Smoothly

The Sydney Futures Exchange (SFE) opened for the first time in 2000 at 8.30am this morning, Tuesday 4 January, without disruption following the New Year changeover. Early trading volumes were strong with more than 25,000 futures and options contracts traded by 10.30am. There was also price volatility, with the SPI® ranging some 25 points. Trading and clearing processes were operating free of any Y2K-related problems and all Member communications links were functioning properly. SFE's subsidiary, the New Zealand Futures and Options Exchange, opens its market tomorrow, Wednesday 5 January.