TRADING SUMMARY FOR THE WEEK ENDING MONDAY 06/10/2008

September Highlights

• September 2008 was a standout month setting numerous records for options contracts. A single day trading record was set on 4 September 2008 with over 4.2 million MWh or 485 calendar contracts trading, exceeding the previous record set on 1 September by 57%.
• Traded options volume for September 2008 represented 132% of the underlying NEM physical electricity demand and futures represented 72%.
• Total options volumes in September 2008 equated to 20.8 million MWh with a face value of approximately $1.13 billion.
• Open Interest reached all time highs on 30 September 2008 with 49,626 contracts.
• Options Open Interest has increased from 3,330 options contracts (COB 30/06/08) to set a new record of 5,814 contracts.
• Options face value equated to $2.7 billion, covering 49.9 million MWh.

>>To read more please visit The Newsroom and download the latest version of Energy Focus.

Weekly Highlights*

• All Calendar 2009 base load prices rallied last week. QLD led the way with a $1.89 increase from $49.58 to $51.47. SA followed with a rise of $1.23 moving from $60.79 to $62.02 and NSW rallied $0.51 from $45.31 to $45.80. VIC increased $0.45 moving from $48.60 to $49.05.
• Option trade highlights this week included the following trades:
• QLD Calendar 2009 $43 put traded at $0.21
• NSW Calendar 2009 $52 call traded at $0.20
• NSW Calendar 2010 $65 call traded at $2.00
• Due to the end of Q3 2008 overall open interest on the week had fallen by 5,511 contracts to 43,873 open contracts. Futures decreased by 5,470 contracts and Options fell slightly with 41 contracts.

Weekly Volume*

• Futures contracts traded this week (including Cap Futures) = 895
• Base Futures = 808
• Peak Futures = 30
• Caps = 57
• Calendar Options traded this week = 125 (or 500 quarterly equivalent contracts)
• Quarterly Options traded this week = 0
• Volume of EFP this week = 5
• Volume of Block Trades this week = 315
• Total MWh traded this week = 3,015,885
• Open Interest (including caps and options) as at COB Monday 06/10/08 = 43,873 contracts (129.9 million MWh)

Monthly Volume* ^

• FY 08/09 average daily volume = 622
• FY 07/08 average daily volume = 445
• FY 06/07 average daily volume = 461
• FY 05/06 average daily volume = 132
• Oct 2008 volume to date = 904 / average daily volume = 226
• Sep 2008 total volume = 14,951 / average daily volume = 680
• Aug 2008 total volume = 8,855 / average daily volume = 422
• July 2008 total volume = 18,807 / average daily volume = 818
• June 2008 total volume = 8,987 / average daily volume = 449
• May 2008 total volume = 13,284 / average daily volume = 604
• Apr 2008 total volume = 8,879 / average daily volume = 404
• Mar 2008 total volume = 6,973 / average daily volume = 332
• Feb 2008 total volume = 14,210 / average daily volume = 677
• Jan 2008 total volume = 7,262 / average daily volume = 363
• Dec 2007 total volume = 3,184 / average daily volume = 168
• Nov 2007 total volume = 13,331 / average daily volume = 606
• Oct 2007 total volume = 9,410 / average daily volume = 409

*volume includes futures trades which result from option exercise

^all contracts are 1 MW calendar quarter equivalent

Electricity Futures & Options Workshops

• Level 1: d-cyphaTrade runs introductory workshops designed to increase understanding of the d-cypha SFE Australian Electricity Futures and Options Products.
• Level 2: Options Trading Workshops provide an introduction to option hedging strategies for energy companies and option volatility trading techniques for financial trading specialists. The Options Trading Workshops will provide practical electricity option trading insights rather than drawing heavily on theoretical options-related mathematics.

For further information please see the Training section on our website.
In-house workshops are available for 8 or more people, please call a member of the d-cyphaTrade Team on 1800 330 101 for more details.