The Australian Securities Exchange (ASX) experienced record trading volume in the New Zealand (NZ) 90 Day Bank Bill Futures contract on 8 March 2007.
44,529 futures contracts were traded, 16.7% higher than the previous record daily volume of 38,160 contracts traded on 9 March 2006. The notional value of the new record volume was NZD 44.53 billion.
The new record was set on the day the Reserve Bank of New Zealand raised the Official Cash Rate by 25 basis points to 7.50%.
Average daily volume for the calendar year-to-date for the NZ 90 Day Bank Bill Futures contract is 7,531 futures contracts traded.
NZ 90 Day Bank Bill Futures contracts are traded on the Sydney Futures Exchange, part of the ASX Group.
