Australian Derivatives Exchange
The Australian Derivatives Exchange (ADX) was launched on January 12, 2001, but closed just 10 weeks later after breaching financial covenants in its regulatory license[1]
The fledgling operation was backed by members of the established Sydney Futures Exchange, and had aimed to secure a 30 per cent market share offering a three-month interest rate futures contract, a five-year government bond futures contract and an equity index contract based on the Morgan Stanley Capital Index for Australia.
The trading system was provided by UK-based EasyScreen and Atos Euronext, and cleared through th Australian Stock Exchange. It had also aimed to become the regional arm of Globex. The management team included founder and CEO John Herron, and Cathryn Lyall, now head of business development at the Chicago Board of Trade's European office in London.
References[edit]
- ↑ Press Release. Australian Treasury.