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- Release Date: 25/11/13 14:16
- Summary: GENERAL: NZX: NZX Dairy Futures Market prospers
- Price Sensitive: No
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NZX
25/11/2013 12:16
GENERAL
REL: 1216 HRS NZX Limited
GENERAL: NZX: NZX Dairy Futures Market prospers
NZX's Dairy Futures Market continues to prosper with another record trading
day on 22 November with 1,294 lots traded. This surpasses the previous
record day set in August this year of 1,270 lots.
There has been a significant increase in trading in the second half of 2013,
driven by increased participation and demand for risk management in dairy,
together with an extension of trading hours.
Since 23 August 2013 the NZX Dairy Futures Market has opened at 2.00am New
Zealand time, allowing easier access for global participants to hedge
exposure to dairy commodity prices, particularly in the US and Europe.
Total volume traded year to date is up 45% on the prior year, an encouraging
sign for the market that was launched in October 2010.
NZX Head of Derivatives Kathryn Jaggard commented: "It is clear that global
dairy participants are increasingly looking to manage risk by using tools
such as NZX Dairy Futures. Consistently high dairy commodity prices over
recent months have only amplified the need to mitigate risk and create price
certainty."
NZX CEO Tim Bennett commented: "NZX Dairy Futures are well on the way to
becoming liquid risk management tools. To achieve daily trades and volumes of
up to 1,300 lots per day is right up there with other developing contracts
and some established ones."
For more information please contact:
Kate McLaughlin
Corporate Communications
M: 027 533 4529
E: [email protected]
End CA:00244242 For:NZX Type:GENERAL Time:2013-11-25 12:16:10
