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- Release Date: 03/02/14 10:46
- Summary: GENERAL: NZX: NZX granted registration as Foreign Board of Trade by CFTC
- Price Sensitive: No
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NZX
03/02/2014 08:46
GENERAL
REL: 0846 HRS NZX Limited
GENERAL: NZX: NZX granted registration as Foreign Board of Trade by CFTC
The US regulatory agency the Commodity Futures Trading Commission (CFTC) has
registered NZX as a Foreign Board of Trade under the US Commodity Exchange
Act.
The registration will allow NZX to permit direct access to participants in
the US to trade NZX Dairy Derivatives on NZX's trading platform. Whole Milk
Powder, Skim Milk Powder and Anhydrous Milk Fat Futures, and Whole Milk
Powder Options can be traded on NZX.
NZX CEO Tim Bennett commented: "We are delighted to be able to offer US
customers direct access to trade NZX Dairy Derivatives. A number of customers
in the US want access to this market to manage risk in globally traded dairy
commodities, and we are looking forward to facilitating this."
Following demand from US and European customers, in August 2013 NZX extended
Dairy Derivatives trading opening hours to overlap into their trading day.
"The extension of trading hours has helped to support expansion of global
participation in these important risk management tools, and access from the
US will be another vital step in building significant liquidity in this
market," he said.
Volume executed in NZX Dairy Derivatives grew by 52% in 2013, with
significant growth in the Skim Milk Powder contract, and open interest across
all three futures up by more than 300%.
For more information please contact:
Kate McLaughlin
Corporate Communications
M: 027 533 4529
E: [email protected]
End CA:00246587 For:NZX Type:GENERAL Time:2014-02-03 08:46:45
