Safex was formed in 1990 as an independent exchange and experienced steady growth over the following decade.
The exchange continued to make steady progress despite intensifying competition from international derivative exchanges and over-the-counter alternatives.
By 1997 Safex reserves have grown sufficiently to allow a significant reduction in the fees it levies per future or options contract.
Consequently, all fees were reduced by 50 per cent that year and in the charges on allocated trades were removed.
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