SFE Interest Rate Options - Macquarie Bank Limited Appointed As An Official Market Maker For SFE Interest Rate Options - Trading News Update September 2002

As part of the ongoing initiatives to improve liquidity in SFE's interest rate option products, SFE is pleased to announce the appointment of Macquarie Bank Limited as an Official Market Maker for SFE 90 Day Bank Bill Options and SFE 3 Year and 10 Year Bond Options.

The continuous presence of market makers, such as Macquarie Bank, significantly improves price discovery, liquidity and market integrity for SFE interest rate options. Specific benefits include:

• Ability to establish/close out positions with greater confidence
• Improves on-screen price discovery
• Encourages tighter bid/offer spreads
• Promotes deeper markets.

Macquarie Bank Limited are committed to providing automated 2 way prices for a minimum of 75% of the day trading session in:

• 90 Day Bank Bill Options spot and next quarter months
• 3 Year Treasury Bond Options spot month
• 10 Year Treasury Bond Options spot month.

In addition, Macquarie Bank Limited are committed to respond to 75% of all Request For Quotes received during the day trading session in:

• 90 Day Bank Bill Options third and fourth quarter months
• 3 Year Treasury Bond Options serial and next quarter months
• 10 Year Treasury Bond Options serial and next quarter months.