Sydney Futures Exchange (SFE) launched three interest rate
spread futures contracts last week but recorded no volume on
launch day. Market participants said the products are not
popular with brokers, who can charge commission on both legs of
a traditional spread trade.
The new contracts are based on the Australia/US 10-year
bond; New Zealand/Australia 3-year bond; and New
Zealand/Australia 10-year bond spreads.
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