Sycom® Proving Its Capacity And Reliability

The volume of trading conducted on SYCOM®, the electronic trading system of the Sydney Futures Exchange (SFE), continues to rise, demonstrating the system's capacity and reliability as SFE's full-time trading platform. On Wednesday, 15 December, 204,047 futures and options contracts were traded - the highest number of daily trades since SFE moved to full electronic trading on 15 November 1999. The daily average of trades this week has exceeded 179,000 futures and options contracts - a 6.4% increase on the same period last year when SFE's Trading Floor was open. The rollover of SFE's 3-Year and 10-Year government bond contracts from December 1999 to March 2000 positions has stimulated this week's high volumes. Mr Leslie Hosking, SFE Chief Executive, said: "SYCOM®'s ability to facilitate the trading of these growing turnover figures is testimony to its successful implementation as SFE's sole trading platform. "Since SFE moved to full-time electronic trading, SYCOM® has been handling on average 100,000 futures and options contracts each day. In December alone, almost 1.4 million contracts have been exchanged. Despite the caution associated with Y2K, the market is continuing to trade vigorously, demonstrating its confidence in SYCOM®'s capacity, reliability and generation of market depth."