The Government's announcement in 'Statement 7: Budget Funding' - which can be found at http://www.budget.gov.au/2003-04/bp1/html/bst7.htm - highlighted the fact that the Treasury bond futures market is the primary vehicle for managing interest rate risk, reflecting its high liquidity, low transaction costs, transparency and accessibility to a wide range of participants. It remains one of the cornerstones of Australia's financial market infrastructure.
Commenting on the Government's announcement, SFE's Managing Director and CEO, Robert Elstone, said "We welcome the unambiguous confirmation by the Government that it will maintain a viable CGS market. It was particularly pleasing to see the Government explicitly acknowledge that it was the importance of the Treasury bond futures market's role in managing interest rate risk that led to the Government's decision."
