SFE To Continue On Demutualisation Path

"Sydney Futures Exchange (SFE) will continue on its path towards demutualisation despite the withdrawal of Computershare Limited from its proposal to acquire 50% of the Exchange", Mr Les Hosking, SFE Chief Executive, said today. "Also, this week's events have not altered the timetable of SFE's highest priority - the imminent closure of the Trading Floor and the move to screen trading on SFE's newly developed SYCOM® IV trading platform, which is now being successfully phased into full operation. "SFE is the largest and most successful financial derivatives exchange in the Asia Pacific region. Whilst SFE has been denied two proposed restructures to further grow our market, one with ASX and one with Computershare, the Exchange remains well positioned to forge strategic alliances and partnerships that will enhance SFE's regional and global business. "Over the forthcoming weeks the Board of the Exchange will review the alternatives regarding the ultimate structure of a demutualised SFE. In doing so, the Board will continue, as it has in the past, to take into account the interests of all classes of Exchange Membership and the long-term strategic future of SFE."