NZX
10/09/2015 08:31
GENERAL
NOT PRICE SENSITIVE
REL: 0831 HRS NZX Limited
GENERAL: NZX: Straits Financial LLC accredited - Dairy Derivatives Market
NZX is pleased to announce that Straits Financial LLC (Straits) has been
accredited as a General Clearing and Trading & Advising Participant for the
NZX Dairy Derivatives market. Accreditation in both categories allows Straits
to offer trading access to NZX from the United States as well as clearing and
settlement services to their customers.
Straits is also the first clearing member from the United States to receive
approval for the NZX market since CFTC authorisation was granted in February
2014, providing a critical gateway to the NZX market for end users globally.
Straits is a significant provider of services to agricultural hedgers in
North America including many dairy customers, while Straits' Asian business
is far and wide, with customers throughout China, Indo-china and Southeast
Asia. Straits is also a full clearing member of the Chicago Mercantile
Exchange, Chicago Board of Trade, New York Mercantile Exchange, The
Commodities Exchange, Clearport and the Dubai Mercantile Exchange.
Straits Chief Operating Officer Paul Fry commented: "Our more than 9,500
existing customers around the world now have the opportunity to access NZX
via the CQG trading platform, and we expect to provide access to many new
customers looking to access the developing dairy market on NZX."
NZX Head of Derivatives Kathryn Jaggard commented: "NZX is excited to welcome
Straits to our market. Securing the services of a firm with the calibre and
reach of Straits is a significant step forward in expanding access to our
market. This reflects the growing demand we are seeing from dairy end users
around the world to use these risk management tools."
NZX Dairy Derivatives experienced growth in lots traded of 177% in 2014 and
continues to see increased participation in the market, with volumes in the
first eight months of 2015 showing growth of 119% over the same period last
year. August 2015 was a record month, with more than 35,000 lots traded.
For further information please contact:
Kate McLaughlin
Corporate Communications
T: 09 309 3654
M: 027 533 4529
E: [email protected]
End CA:00269918 For:NZX Type:GENERAL Time:2015-09-10 08:31:36
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