Singapore Exchange (SGX) has said it will close its Nikkei
225 futures pit on 31 March, having announced that trading in
the electronic e-Nikkei has reached 80% of total contract
The Nikkei has become the exchange's most active futures
product, trading 32,000 lots daily during the final quarter of
2004 and accounting for 46% of total futures business. The
e-Nikkei was introduced on 1 November last year in parallel
with pit trading. SGX now aims to boost electronic trading in
its Japan Government Bond (JGB) futures contract, in which
average daily volume during in the quarter to the end of 2003
was 4,000 lots.
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