Record Volume Day For SFE 30 Day Interbank Cash Rate Futures

On 14th September, 2004, Sydney Futures Exchange experienced the largest transaction volumes on record for the SFE 30 Day Interbank Cash Rate Futures contracts. The total volume for the day was 16,554, up 31% compared to the previous record of 12,643 contracts set on September 10th, 2004. Open interest in the contract is currently at 63,379 contracts.

Spread trading dominated activity in the 30 Day Interbank Cash Rate Futures contracts, as the contracts give users the opportunity to trade around the timing of the next perceived change in interest rates.

Peter Hiom, General Manager, Exchange Business Development said, "The strong volume growth in the 30 Day Interbank Cash Rate Futures is reflective of the diversity of market users accessing the short end of the yield curve through this contract for a variety of hedging and trading reasons."