Fast Forward

The Sydney Futures Exchange, established in 1960, is the oldest exchange - and one of the most dynamic - in the Asia-Pacific region. Volumes dealt on the exchange, which trades predominantly financial futures, significantly outperform those of other regional exchanges and in 1992 it ranked second only to the giant Osaka Securities Exchange. This history traces the exchange's growth, from its origins as a predominantly wool futures exchange - the Sydney Greasy Wool Futures Exchange - to its present status as a dominant force in financial futures. In line with world trends, financial futures have dominated trading since the early 1980s, bringing a shift in membership and focus for the SFE, and steadily increasing volumes since the mid-1980s as banks and other financial institutions hedge their interest-rate risk through futures and options. Edna Carew is the author of "Fast Money", "Language of Money" and "Paul Keating, Prime Minister".