This follows the issue of a ‘No-Action’ letter to SFE in respect of SPI 200™ products from the US Commodity Futures Trading Commission (CFTC).
‘No Action’ authorisation means that the SPI 200™ is now available to customers globally. This ensures its position as the successor to the original Share Price Index (SPI) contract as Australia’s premier equity derivatives product.
The granting of such authorisation is timely for SFE’s equity customers. With the SPI 200™ now available to US users, customers have the opportunity to take advantage of the December 2000 contract roll to transition from the SPI to the SPI 200™.
SPI 200™ futures and options contracts were introduced in May this year and are based on the S&P/ASX 200 index, one of the new benchmark indices for the Australian marketplace. The original SPI will expire in September 2001.
SPI 200™ contracts now join SFE’s interest rate and commodity products in being available for trading to customers worldwide.
In 1999, 5.1 million SPI futures and options contracts were traded, at a nominal value of A$375.8 billion.
