Sydney Futures Exchange


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Sydney Futures Exchange (SFE)

The derivatives market of Australia.

Sydney Futures Exchange

The former primary derivatives exchange in Australia. In 2006, it merged with the Australian Stock Exchange to form the Australian Securities Exchange.
References in periodicals archive ?
One of the reasons for the conflicting findings in prior work could be that while the equities and options market research analyses actual quoted spreads, prior futures market research has been reduced to examining various estimates of spreads.(1) The Sydney Futures Exchange (SFE) is organised similarly to US futures markets.
(1994) estimator for the Sydney Futures Exchange. Our findings were identical to Wang et al.
Trading on the Sydney Futures Exchange (SFE) is conducted on a trading floor through continuous open outcry, and is analogous to trading on the Chicago Mercantile Exchange (CME), which has been analysed in previous research.(7) There are two main types of traders; Floor Members and Local Members.
In addition, agreements between the Chicago Board of Trade, the London International Financial Futures Exchange, and the Sydney Futures Exchange are discussed.
SOFFEX CEO, Otto Nageli, notes that members must maintain different infrastructures to deal with diverse exchanges, and wants to do away with this from the users' standpoint.(14) Roger Barton of LIFFE expects more linkages between different exchanges simply because members want them.(15) Similarly, Les Hosking, CEO of the Sydney Futures Exchange, believes that futures exchanges will have common memberships out of necessity.(16) Christophe Commergnat of MATIF invites European exchanges to join a cooperative arrangement between DTB and MATIF.(17)
ASX comprises two market licensees and four licensed clearing and settlement facilities - ASX Limited, ASX Clear Pty Limited (formerly known as Australian Clearing House Pty Limited), ASX Settlement Pty Limited (formerly known as ASX Settlement and Transfer Corporation Pty Limited), Australian Securities Exchange Limited (formerly known as Sydney Futures Exchange Limited), ASX Clear (Futures) Pty Limited (formerly known as SFE Clearing Corporation Pty Limited) and Austraclear Limited.
On the Sydney Futures Exchange at 4.15pm the September share price index contract was four points weaker at 4472 on a volume of 19,634 contracts.
The indices are constructed using the largest and most liquid stocks in each country's markets and were designed with the assistance of the Sydney Futures Exchange (SFE).
Sackville said toward the end of March 1996, Nomura established an arbitrage position in index futures, known as SPI contracts, on the Sydney Futures Exchange, worth around 600 million Australian dollars (380 million U.S.
This paper will relax the assumption of a frictionless market, examining the pricing of the futures contracts written on the Australian Stock Exchange (ASX) All Ordinaries Share Price Index as traded on the Sydney Futures Exchange (SFE), incorporating taxes and transaction costs within the no-arbitrage pricing relationship.
For the sample period, the mean bid-ask spread for the SPI futures contract traded on the Sydney Futures Exchange was 0.19%.
The Sydney Futures Exchange is looking to "do some mutually cooperative" deals with exchanges in Asia as well as compete head-on for business.

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