STC Market Volatile – 30th September 2019

The STC market was quite volatile last week with the price spiking higher early in the week before dropping lower and then recovering to close slightly down from where it started. This volatility is possibly due to the fact we are coming towards the end of the 3rd quarter surrender period. The spot price opened at $38.00 before strong demand pushed it up to $38.65. This only lasted a short time however as the price quickly dropped over the next 24 hours with the price going as low as $37.50. A rally late in the week saw it close at $37.85.

The forward market was again active with a high volume of trades reported. The curve was somewhat backdated with forwards not trading above the $38 level. Later in the week the forward price dropped in line with the spot price trading at around $37.70.

Despite a public holiday in Victoria on Friday there was still approx 700,000 STC’s created. The number of STC’s listed on the clearing house currently sits at 353,728. Still no movement at the top of the clearing house list forcing participants to sell via the secondary market. A link to the STC clearing house can be found here.

Our latest pricing for both registered and non-registered STC’s can be found here.