FUTURES ‘Dead’ contract

Press, 20 March 1987, Page 10

FUTURES ‘Dead’ contract

Futures trading was volatile in the Government stock (GSK) and Barclays share index contracts yesterday, but the U.S. dollar contract was considered “dead” in spite of the busy foreign exchange market.

A futures trader said that he considered the U.S. dollar contract to be dead even though the New Zealand dollar had fluctuated wildly during the day.

The contract has not attracted much business lately, and only 8 lots were done yesterday. The index moved up 225 points from Wednesday’s close.

The GSK contract was extremely strong as the index moved up throughout the trading day on falling interest rates on the physical market. However, the bank accepted bills (BAB) contract remained steady throughout the sessions, the trader said. The Barclays share index contract was weak in the morning, but came back strong in the afternoon, trading between 3230 and 3158. The volume was big and the index closed near its highs, the trader said. Details of yesterday’s trading were: SUS CONTRACTS Mth Open H/L Last Vol Apr 1.7940 8100/7940 8100 8 Contracts traded: 8. Open positions at Mar 18: Apr 199, May 12, Jun 1, total 212 (up 50). COMMERCIAL BILLS Contracts traded: nil. Open positions at Mar 18: Jun 123, Sep 43, Dec 40, Mar 39, Jun 10, total 255 (same).

GOVERNMENT STOCK Mth Open H/L Last Vol Jun 8229 255/229 252 654 Contracts traded: 654. Open positions at Mar 18: Apr 2, Jun 2009, Dec 117, total 2128

Contracts traded: 75. Open positions at Mar 18: Mar 1, May 175, Aug 159, Oct 138, Dec 103, Jan 185, Mar 194, May 86, Aug 16, total 1057 (down 160). WHEAT Contracts traded: nil. Open positions at Mar 18: May 7, total 7 (same). 90-DAY BANK BILLS

Contracts traded: 99. Open positions at Mar 18: Apr 326, May 173, Jun 179, Sep 46, Dec 44, Mar 53, Jun 40, Sep 40, Dec 40, total 941 (up 52). SYDNEY ALL-ORDS (half-points omitted) Prev.

Contracts traded: 2096. Open positions at Mar 19: 12,409. BARCLAY’S SHARE INDEX Mth Open H/L Last Vol Mar 3165 230/158 220 579 Jun 3210 225/210 225 12 Contracts traded: 592. Open positions at Mar 18: Mar 2131, Jun 54, total 2185 (up 17).

(up 90). WOOL Mth Open H/L Last Vol Mar 620 620/620 620 2 May 645 645/641 641 6 Aug 700 700/700 700 5 Oct 700 700/690 690 17 Dec 700 700/700 700 4 Jan 710 710/691 691 17 Mar 710 710/690 690 22 May 700 700/700 700 2

Mth Open H/L Last Vol Apr 7520 560/505 505 86 May 7645 645/630 630 12 Mar 8300 300/300 300 1

Mth close H/L Last Vol Mar 1653 1661/48 1660 1822 Jun 1647 1654/39 1653 274