SFE Signs Memorandum Of Understanding With Korean Stock Exchange

The Sydney Futures Exchange (SFE) and the Korean Stock Exchange (KSE) today (November 29) signed a Memorandum of Understanding (MOU). The MOU provides for the long-term cooperation and exchanging of information between the two exchanges, so as to assist in the maintenance of orderly derivatives markets and for the benefit of the financial services industries generally within Australia and Korea. Mr Leslie Hosking, Chief Executive and Director of SFE and Mr Changbae Park, Chairman and Chief Executive of KSE, signed the MOU. KSE is one of the top five stock markets by volume in the Asia Pacific and operates the very successful KOSPI equity index futures and options contracts. SFE is the largest financial futures exchange in the region and has a vested interest in ensuring that all derivatives markets are run with the highest standards of probity. The MOU assists SFE's plans to expand its Asia Pacific Extra Liquid Series (AP/ELS) range of equity index derivatives products. An AP/ELS Pan-Asia, based on equity markets within the Asia Pacific, is scheduled to be launched in 2000. The most liquid Korean stocks will be included in the Pan-Asia contract. The newly formed understanding with KSE further enhances SFE's regional pre-eminence and Australia's growing reputation as a centre for global finance.