Moneyweb 13 Dec 2007 15:39
After muted success with its bond futures products, the JSE's Yield-X exchange, has hit the mark with its currency futures product.
On Thursday the exchange reported that a total contract value of all currency futures has reached a high of R1bn.
The currency futures allow traders to take bets on the dollar/rand, pound/rand and euro/rand exchange rates.
The currency futures products are not subject to exchange controls for private investors. However, corporate and wholesale clients are excluded from trading currency futures.
"The interest from the retail market has been phenomenal," says Warren Geers, GM, trading division at the JSE. "The JSE is happy with the growth experienced and is confident that volumes and value traded will continue to rise consistently over time."