The start of trading in the Euro this morning is a major boost for Australia’s status as a regional financial centre, the Minister for Financial Services and Regulation, Joe Hockey, said.
"The eyes of the world’s major central banks together with the world’s largest financial institutions were focused on the start of global trading in the Euro in Sydney," Mr Hockey said.
"Our time zone advantage over Singapore and Hong Kong was not lost on world financial markets this morning.
"The fact that from 5am Australian financial institutions and international banks based in Australia were trading the Euro, shows the sophistication and liquidity of the local market.
"This is further evidence of Australia’s position as a leading regional financial centre."