Our role:
The Sydney Futures Exchange is one of the largest financial futures and options exchanges in the world by volume turnover and the second largest in the Asia Pacific region. SFE provides futures and options on the four most actively traded markets - interest rates, equities, currencies and commodities including wool and cattle.

In March 2006, a merger was announced between the Australian Stock Exchange and the Sydney Futures Exchange, resulting in the 9th largest listed exchange in the world.

Deloitte prepared the Independent Experts Report providing an opinion on whether the terms of the proposed merger with the ASX was in the best interest of SFE shareholders. This report incorporated a valuation of both the SFE and the merged ASX group after completion of the transaction. Analysis of the key advantages and disadvantages of the merger for SFE shareholders was also undertaken by the corporate finance team at Deloitte.

Deal value: $5.5 billion

Date: 2006