SYDNEY, Australia - The Sydney Futures Exchange plans to add this month four more stocks to its listings of share futures, the only exchange in the world to offer futures contracts on the shares of individual stocks.
The four are: BTR Mylex Ltd., a plastics and plastics products producer; Westpac Banking Corp., a banking, insurance and investment services group; MIM Holdings Ltd., a metals and coal producer; and Western Mining Corp. Holdings Ltd., a nickel, gold, petroleum and minerals producer.
The new listing would bring to seven the number of stocks that have share futures contracts. The initial three share futures, which began trading in May, are Broken Hill Proprietary Co., News Corp. and National Australia Bank.
The contracts "will provide multiple customized hedge opportunities at very low cost against a variety of equity portfolios," said Les Hosking, chief executive officer of the exchange.