2007•Palgrave Macmillan UK eBooksRequires access
Liquidity and Market Efficiency Before and After the Introduction of Electronic Trading at the Sydney Futures Exchange
Mark Burgess, J. Wickramanayake
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Abstract
On October 28, 1999, the Floor Members of the Sydney Futures Exchange (SFE) voted to transfer SFE’s floor-based futures and options contracts to an electronic trading system. On March 4, 1999, the SPI ceased floor-trading and became screen-traded. Later, on Friday, November 12, 1999 the remainder of the floor-trading ceased, and on Monday, November 15, 1999 the Sydney Futures Exchange (SFE) became a completely automated system, with all trading conducted by SYCOM IV. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.