Australian Futures Trade Electronically Without Globex
THIS WEEK'S LEAD STORIES
The Sydney Futures Exchange (SFE) will launch its electronic trading system, Sydney Computerized Overnight Market (Sycom) on Nov. 30, despite its agreement in principle with the Chicago Mercantile Exchange to join the Globex system.
Initially only the SFE's ten-year bond, its most actively traded contract, will be on Sycom, and only floor members in Australia will have access to terminals. To date, 21 of 29 floor members have joined the system. Sycom trading will occur between the hours of 4:45
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