Ann: DAIRY: NZX: Record Trading Month - NZX Dairy

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    • Release Date: 29/07/13 12:23
    • Summary: DAIRY: NZX: Record Trading Month - NZX Dairy Futures
    • Price Sensitive: No
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    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
    				
 
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