sfe-spi200 - What are SFE SPI 200 ® Futures SFE SPI 200...

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Unformatted text preview: What are SFE SPI 200 ® Futures? SFE SPI 200 ®1 Futures are the benchmark derivative product for investors trading and hedging in the Australian equity index market. SFE SPI 200 ® Futures enable you to trade movements in the S&P/ASX 200 Index 2 in a single transaction, thereby allowing exposure to Australia’s top 200 companies without having to buy or sell shares in every company in the index. SFE SPI 200 ® Futures are approved for trading by the US Commodities Futures Trading Commission (CFTC) and the UK Financial Services Authority (FSA). The Australian Equities Market The Australian equity market is the seventh largest in the world and the largest in the Asia Pacific region (ex Japan) 3 . The total turnover of equities traded in 2006-07 was $1.3 trillion, 35% higher than the previous year. The domestic market capitalisation in 2006-07 was $1.6 trillion, 32% higher year on year. The S&P/ASX 200 Index SFE SPI 200 ® Futures are based on the S&P/ASX 200 Index which comprises the S&P/ASX 100 plus an additional 100 stocks listed on the Australian market. It is recognised as the investable benchmark for the Australian equities market and covers approximately 78% of the market capitalisation of listed securities in Australia. SFE SPI 200 ® Futures Features • Day and night trading sessions for access almost 24 hours a day 4 • Available through international hubs including; London, Chicago, Singapore and Hong Kong • Average daily turnover for SFE SPI 200 ® Futures in 2006-07 was $4 billion, 51% higher than in 2005-06 • SFE SPI 200 ® Futures volume in 2006-07 was 7,347,837, 24% higher than the previous year • SFE SPI 200 ® Futures are available on the next six quarterly expiry months 1 SFE SPI 200 ® is a trademark of the Sydney Futures Exchange. 2 S&P/ASX 200 Index is a trademark of Standard and Poor’s and is used under licence by SFE Corporation Limited. 3 Data sourced from MSCI October 2007 release 4 Trading times: 5:10pm – 7:00am and 9:50am – 4:30pm (US daylight saving time) and 5:10pm – 8:00am and 9:50am – 4:30pm (US non daylight saving time) SFE SPI 200 ® Futures SFE SPI 200 ® Futures SFE SPI 200 ® Futures Volume and Open Interest Jan 2004 – October 2007...
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This note was uploaded on 08/30/2009 for the course FINM 3405 taught by Professor Philipgray during the Three '09 term at Queensland.

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sfe-spi200 - What are SFE SPI 200 ® Futures SFE SPI 200...

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