Sydney Futures Exchange sees profits soar

“SFE’s solid half-year performance was in line with corporate objectives and reflected the company’s improved operational efficiencies combined with exchange-traded volume growth,” said Robert Elstone, SFE managing director and chief executive. Elstone attributed the strong financial performance to increased volumes in benchmark contracts assisted by market volatility following three consecutive rate cuts by the Reserve Bank of Australia (RBA). He said he was especially pleased given that SFE had reduced average exchange contract fees during the period.

The first half of the year saw consolidation at SFE as Austraclear technology, staff and premises were integrated into the business. Elstone said that cost savings and operational efficiencies had been realised through the integration, and new products and services should be introduced in the second half of next year.

But Elstone also offered a cautious note: “The historical trend for the exchange is for lower trading volumes in the second half of the year. In addition we expect technology costs to rise with the implementation of new clearing technology initiatives.” On average trading volumes are expected to be 6% lower than during the first half.

  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: