To:  Clearing Members/NZ Clearing Members

No. 03/00


Australia Day Holiday - Wednesday 26 January 2000

On Wednesday, 26 January 2000, the Sydney Futures Exchange Limited (SFE) will be closed for the Australia Day Holiday, (refer to SFE Circular No: 14/00), although the NZFOE will be open for business. Therefore, Members will be required to pay any shortages in their New Zealand House or Client Account.


On Wedneday, 26 January 2000, Members will be required to pay any shortages in their NZ House and Client accounts as per normal.

As an alternative for Members, the option to avoid NZFOE cashflows on Wednesday, 26 January 2000, by leaving additional cover on Tuesday, 25 January 2000 (equivalent to the total initial margin on both House and Client accounts calculated as at the close of business on Monday, 24 January 2000).

Members electing to deposit double initial margins on Tuesday, 25 January 2000, are required to complete the attached settlement confirmation and return it to the SFECH by 11 am Monday, 24 January 2000.


Members requiring position adjustments or trade transfers to be processed on Wednesday, 26 January 2000, must submit these by no later than 1:00pm (Sydney Time).

There are no changes to the timing requirements for the reported long/short files.

If you should have any queries please contact Diane Fletcher on (02) 9256 0543 or Mark Tooher on (02) 9256 0553.