SIRCA e-Newsletter - Vol. 04
mARCH 2004

In this issue:

1. SIRCA RELEASES THE FIRST RASP PROTOTYPE

The initial Research Application Service Provider (RASP) prototype provides online access to five years of historical transactional data for equity instruments from eight stock exchanges from various financial regions.
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2. OPTIONS GENERATE BETTER RETURNS - SAYS SIRCA RESEARCH

SIRCA has released a report commissioned by Australian Stock Exchange (ASX) that calls into question the practice employed by the majority of Fund Managers of tracking an index such as the S&P/ASX 200 Accumulation Index.
SIRCA and its research partner, Capital Markets Cooperative Research Centre (CMCRC) Ltd, found that an alternative strategy, known as a ‘Buy Write’ strategy, produced returns 23 percent higher than those produced by following the S&P/ASX 200 Accumulation Index, and had a lower risk profile over the 14 year period of the study.
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3. LATEST SIRCA BOOK LAUNCHED

A Review of the Australian Financial Services Industry is the third book to be published by SIRCA. This book, edited by Dr David Gallagher and Nick Chappel, provides information on the role, contribution and importance to the Australian economy of the four key sectors within Australia's financial services industry - Capital Markets, Investment Management, Banking, and Insurance.
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4. NEW SIRCA SCHOLARSHIPS

SIRCA has announced eight generous research scholarships in line with our mission to promote thought leadership and innovation in financial services and related activities through research excellence.
2004 - 2006 PhD Scholarships in Identity Fraud
2004 ASX Honours Scholarships

5. SIRCA RESEARCHERS WIN 2003 JASSA PRIZE

SIRCA researchers, Dr David R. Gallagher and Adrian Looi, have scooped the 2003 best original article award contributed to JASSA, the quarterly refereed journal produced for members and the industry.
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6. TOP 5 RASP QUESTIONS

1. What data is available through RASP?
2. How can I access the RASP Web Server?
3. How do I request data?
4. Can I access a demonstration version?
5. How do I use the RASP Data Wizard?

Did you know...
If you have any suggestions or feedback on SIRCA's data, please send an e-mail to sirca@sirca.org.au

7. WHAT'S NEW AT SIRCA ...

New Academic Member
SIRCA is pleased to welcome the University of Newcastle as a new Subscribing Member to its range of services, taking our total university membership to 26.
SIRCA Member Universities

SIRCA Breakfast Forums
SIRCA Breakfast Forums aim to provide round-table interaction between academics and industry on new and developing research.
SIRCA Breakfast Forums operate on the last Wednesday of every month, over breakfast, from SIRCA’s office located in the heart of Sydney's CBD - the hub of the Asia-Pacific financial market place.
SIRCA Breakfast Forums

Latest Research
Price Impact of Trades on the ASX
The Impact of Market Architecture and Institutional Features on World Equity Market Performance

Look for the next issue of the SIRCA e-newsletter in June 2004.