Sydney Australia: 7 December 2005. Sydney Futures Exchange Limited ("SFE"), a wholly owned subsidiary of SFE Corporation Limited, has entered into an agreement with CommSec Limited, a wholly owned subsidiary of Commonwealth Bank, under which SFE has committed to establish an exchange traded contracts for difference ("CFD") market covering a number of asset classes to complement existing over-the-counter CFD offerings.
CommSec's involvement in the project will start with a financial contribution to SFE and, once the market is operational, will take the form of participation in the market alongside market makers and other brokers in making the new products available to their customers. Further details of the products and the underlying asset classes are expected to be announced in the first half of 2006.
