MGEX (Exchange), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today reported April 2010 total volume of 118,290 contracts traded and open interest of 48,235. The April total volume is a 28 percent increase over March 2010 while April total open interest was up 60 percent over April 2009. Open interest on the Exchange’s flagship Hard Red Spring Wheat (HRSW) futures contract increased 51 percent when compared to the same period last year, while HRSW options open interest saw an 87 percent increase in the period.
April 2010 HRSW options volume increased 42 percent year-over-year to 2,572 contracts traded. HRSW futures volume was 115,360, slightly higher than the year ago period. Trading of the Exchange’s Soft Red Winter Wheat Index (SRWI) continued, adding to the total Exchange volume increase.
Electronic trading continued brisk in April 2010. With 97,738 contracts trading electronically, April was the sixth-highest electronic trading month on record. Additionally, April 22 saw the eighth best daily electronic trading volume in Exchange history with 9,062 contracts traded.
"We are pleased to see the marketplace’s continued trust in our flagship Hard Red Spring Wheat contract and renewed interest in our Soft Red Winter Wheat Index contract," Rita Maloney, Director, Marketing and Business Development, MGEX said. "And our recently announced business partnership with The Trend Exchange shows our commitment to growing our business," Maloney said.
In March, MGEX announced it will provide clearing and settlement services to The Trend Exchange (TrendEx), which plans to offer risk management products based on domestic box office receipts. The CFTC approved TrendEx as a Designated Contract Market on April 16, 2010. For more information on this partnership, visit our website at www.mgex.com and read the full release.