SFE's new AUD currency futures contract has the support of Deutsche Bank AG, which is acting as a market-maker.
Drew Bradford, Deutsche Bank's Head of Foreign Exchange Australia/New Zealand said: "Deutsche Bank will use its Foreign Exchange B2B platform to deliver continuous, real-time electronic contract pricing, coupled with automated trade execution, which will provide liquidity from the launch date." The objective of Deutsche Bank's Foreign Exchange B2B offering, named fxmarkets B2B, is to create efficiency, provide market-risk solutions electronically and bring new opportunities to the marketplace in a safe and secure manner. Mr Bradford also commented that: "The platform is already live and proven with a number of clients, and is a strategic part of Deutsche Bank's e-commerce strategy."
SFE's AUD currency futures contract is a readily accessible investment and risk management tool for users to trade the foreign exchange market, limit their price risk exposure to currency fluctuations and to take advantage of anticipated movements in the AUD/USD exchange rate.
Access to the foreign exchange market has traditionally been confined to banks, corporations and other large financial institutions. SFE's new AUD currency futures contract broadens the range of products available to these professionals and also gives private investors the opportunity to participate. The contract is traded on SFE's fully electronic, around-the-clock SYCOM® system, giving users the ability to view price movements and volumes, and trade promptly.
Deutsche Bank AG is widely recognised as one of the world's leading foreign exchange banks with more than 40 foreign exchange offices worldwide. Deutsche Bank's prominent global position was reflected by its No.1 ranking in the 2000 Euromoney FX poll.
Today's launch follows extensive market consultation, with demand expected to come from corporate treasuries, banks, importers and exporters, professional and interbank proprietary traders, and retail participants.
