SFE sfe corporation limited

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    M E D I A R E L E A S E
    SFE Corporation (SFE) and New Zealand Exchange (NZX) to Develop Equity
    Derivatives in New Zealand.
    September 17, 2003 – Sydney, Australia: SFE is pleased to announce an agreement
    with the New Zealand Exchange (NZX) to develop an exchange traded market for New
    Zealand equity derivatives listed on the Sydney Futures Exchange and cleared through the
    SFE Clearing Corporation.
    The first tranche of products will be listed in March 2004 and will include equity index
    futures and futures option contracts, and individual equity options. The agreement
    provides scope for SFE and NZX to develop derivative products based on other underlying
    New Zealand securities in the future.
    As one of the ten largest financial futures and option exchanges in the world, SFE will
    provide technology infrastructure and considerable market operations expertise, whilst
    NZX, as the premier securities exchange in New Zealand, is ideally placed to provide
    product development expertise and distribution into the New Zealand equity market. NZX
    will also be responsible for the branding of products and promotion to customers.
    Mark Weldon, Chief Executive of NZX said, “We believe the deal with the SFE will provide
    NZX, and the local investment community, with the most cost effective access to derivative
    products. By entering into this relationship with the SFE, we are effectively avoiding the
    significant investment required to build our own market infrastructure and concurrently gain
    instant access to SFE’s global participant base. We would also expect, as has occurred in
    nearly all other markets with liquid futures and options, that liquidity in the underlying
    instruments will improve,”
    Peter Hiom, SFE General Manager – Exchange Business Development, added ‘the
    agreement with NZX is another example of how SFE can provide third parties, including
    other exchanges and clearing entities, with affordable access to world class trading,
    clearing and settlement infrastructure, global connectivity and expertise in product design”.
    The agreement with the NZX comes shortly after strong trading activity levels at the
    Sydney Futures Exchange. On Thursday, September 11, a record 651,178 futures and
    options contracts were traded, up from the previous record of 640,605 set on March 13,
    2003. This was followed on Friday September 12, by record overnight trading volumes of
    112,343 compared to the previous overnight record of 101,573 traded on March 14, 2003.
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    About SFE
    SFE Corporation (SFE) and its subsidiary company Sydney Futures Exchange provides
    exchange-traded and over-the-counter (OTC) services throughout the Asia Pacific region
    and in other major financial cities in the world. Fully electronic and with 24-hour trading
    capability, Sydney Futures Exchange offers trading products for investment and risk
    management and disseminates market data and information. SFE Clearing Corporation is
    the fully owned clearing and settlement arm of SFE, and provides central counterparty
    clearing, central securities depository and cash settlement services. Leveraging off its
    infrastructure and expertise, SFE also provides outsourcing services to industry bodies
    and other exchanges wishing to develop risk management products. www.sfe.com.au
    About New Zealand Exchange Limited (NZX)
    NZX operates New Zealand’s sole registered national stock exchange. Utilising its
    proprietary FASTER technology, NZX facilitates fully electronic trading, clearing and
    settlements across its three principle markets, the NZSX – Stock Market, the NZDX – Debt
    Market, and the soon to be launched NZAX – Alternative Market. In addition, NZX offers a
    comprehensive suite of data products, indices and funds, and is responsible for the
    ongoing surveillance and regulation of New Zealand’s capital markets.
    By providing a ready market for capital raising and business growth, NZX is at the forefront
    of business in New Zealand. At both the Board and management levels, NZX is committed
    to developing and ensuring the integrity and international competitiveness of New
    Zealand’s capital markets. NZX demutualised in October 2002 and became a publicly
    listed company on 4 June 2003. For more information, visit www.nzx.com.
 
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