Debt instruments issued by the Australian Government are designated exempt securities by the Securities and Exchange Commission under SEC Rule 3a12-8. This is in accordance with Commodity Futures Trading Commission (CFTC) foreign instrument approvals and exemptions.
As such, the ADX three month interest rate futures contract and the five year bond futures contract may be offered in the United States. The manner of such offers must be in accordance with Part 30 of the CFTC regulations.
ADX is awaiting CFTC approval in relation to its MSCI Aussie Index futures contract. Discussions are continuing with the CFTC.
ADX managing director, Mr John Herron, emphasised that ADX contract specifications have been aligned to international standards to attract global traders, notably in the US. ADX plans to enhance its presence in the US futures industry, and has a permanent staff member in Chicago.
