FUTURES ATS has problems
Problems for the automated trading system (ATS) of the New Zealand Futures Exchange helped produce a quiet trading yesterday. Mr Simon Gerrie, a dealer for Jordan Sandman Futures, said the trading terminals were down in the morning and early afternoon. It made it difficult to get a feeling on the market, he said.
Dealers had to rely on inter-office trading to try and create a market
The Barclays share price index futures contract found support at its closing level of 4090, in spite of some selling as the sharemarket opened in the afternoon call. “Technically, the floor is looking stronger and offering good buying opportunities.” However, the worry was the large premium, which was at 258 points against the physical at the close, he said. Both the Government stock (GSK) and bank-accepted bills (BAB) contract were looking decidedly soft near the close. The prospect was for higher interest rates today, he said. Details of yesterday's trading were: SUS CONTRACTS Mth Open H/L Last Vol Oct 1.5380 380/380 379 310 Contracts traded: 310. Open positions at October 2: October 211, November 1, March 3, total 215 (up 102). COMMERCIAL BILLS Contracts traded: nil. Open positions at October 2: December 40, March 39, June 10, total 89 (same). GOVERNMENT STOCK Mth Open H/L Last Vol Dec. 8407 407/399 399 110 Contracts traded: 110. Open positions at October 2:
December 1134, March 10, June 70, total 1214 (up 33). WOOL Contracts traded: nil. Open positions at October 2: October 23, December 91, January 309, March 341, May 255, August 21, October 1, December 2, total 1053 (up
Contracts traded: 109. Open positions at October 2: October 471, November 191, December 335, March 235, June 164, September 132, December 137, March 26, June 12, total 1703 (down 41). SYDNEY ALL-ORDS (half-points omitted) Prev. Mth close H/L Last Vol Dec. 2272 2335/85 2332 1259 Mar. 2343/43 2343 1 Contracts traded: 1260. Open positions at October 2: 3807. BARCLAY'S SHARE INDEX Mth Open H/L Last Vol Dec. 4081 115/061 090 346 Mar. 4290 290/290 290 1 Contracts traded: 347. Open positions at October 2: December 1134, total 1134 (up 107).
3). M-DAY BANK BILLS Mth Open H/L Last Vol Oct 8073 090/073 085 75 Nov. 8100 105/100 100 15 Dec. 8135 135/135 135 17 Mar. 8180 180/180 180 1 Jun. 8250 250/250 250 1
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Press, 6 October 1987, Page 48
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392FUTURES ATS has problems Press, 6 October 1987, Page 48
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