Upon the conclusion of the financial year, ROFEX registered a significant growth in financial futures trading. The contract volume reached in the Financial Derivatives Division (DDF) between August 2007 and July 2008 was of 36,115,144 contracts, up 69% from the previous period.
Likewise, the volume traded in the first 7 months of the year equals that registered during all 2007, when more than 25 million contracts were traded. During the January-July 2008 period, 24,376,990 contracts were traded, showing a significant 80% increase in comparison to the same period last year. These figures reflect the greatest demand for exchange rate coverage registered in the last months and ROFEX´s leading market position in financial futures.
On the other hand, it is worth mentioning that on July 30 the financial futures Open Interest record reached in last June was surpassed, with a total of 2,222,943 open contracts at the end of that trading session.
The Open Interest is the total number of contracts that have not been closed out, which is generally determined at the end of each trading session. Volume and Open Interest are indicators of the intensity of a market’s movement or the pressure on price change, which helps to understand the direction taken by the quotations trend and the market’s liquidity in a given moment.
At the end of the financial year, ROFEX´s gross income registered a 73% increase from the previous year. As the Exchange was already above its break-even point, this increase will be mainly transferred to the company’s final profit.