NZX
29/07/2013 10:23
DAIRY
REL: 1023 HRS NZX Limited
DAIRY: NZX: Record Trading Month - NZX Dairy Futures
NZX Dairy Futures has registered a record trading month with volume for July
now standing at 5,225 lots, surpassing the previous highest traded month
(March 2012) by 1,050 lots.
Activity in NZX Dairy Futures in July has been spread across all products in
the dairy futures product suite, with Whole Milk Powder (WMP) once again
leading the way with 2,310 lots traded, Skim Milk Powder (SMP) 2,215 lots
traded, and Anhydrous Milk Fat (AMF) 700 lots traded.
Kathryn Jaggard, Head of Derivatives at NZX, commented: "Once again NZX Dairy
Futures is showing that real liquidity exists in these contracts for those
looking to manage dairy price risk. Particularly pleasing is that volume is
spread across all three products - in particular Skim Milk Powder is
experiencing real growth in volumes traded and participation."
Total volume across all dairy derivatives products since launch now stands at
just under 50,000 lots traded, with a value of US$167,000,000. The average
daily volume for July was a record 261 lots. Open interest, a reflection of
the depth and breadth of market activity, now stands at 7,434, more than
1,700 lots higher than this time last year.
"These contracts are well supported by key market participants - clearing
members, trading members, and end-user clients - and this is the basis for
further growth in participation and success in any derivatives contracts.
"There is no doubt that levels of volatility in dairy markets remain high
which means demand for viable risk management tools is also high - growth in
participation in the NZX Dairy Futures contracts reflects these market
conditions.
"The trading activity seen in June and July augurs well for the remainder of
the year and we expect this activity will be further enhanced when NZX goes
to extended trading hours, allowing greater access for traders in Europe and
the US," said Jaggard.
For more information please contact:
Kate McLaughlin
Head of Corporate Communications
M: 027 533 4529
E: [email protected]
Kathryn Jaggard
Head of Derivatives
T: 09 368 1242
E: [email protected]
End CA:00239053 For:NZX Type:DAIRY Time:2013-07-29 10:23:56
