"With changes to the composition of the Australian debt market involving an increase in non-government debt issuance, customers are now seeking exchange traded instruments that allow them to manage their underlying exposure even more accurately," said Peter Hiom, General Manager, Strategy and Business Development. "The launch of 3 and 10 year interest rate swap futures contracts, which SFE foreshadowed in its 2001 annual report, will provide users with the appropriate risk management tool."
Whilst SFE expects near term volumes to be modest, the listing of interest rate swap futures is a natural extension to SFE's already comprehensive suite of Australian and New Zealand interest rate contracts which include futures and options on 90 Day Bank Bills, 3 Year Treasury Bonds and 10 Year Treasury Bonds.