MGEX (Exchange) reported monthly total Exchange volume of 108,381 contracts traded in February, a 31 percent increase over February of 2009. Exchange total open interest ended the month up 62 percent. Hard Red Spring Wheat (HRSW) futures open interest experienced a 59 percent increase over February 2009. February trading of (HRSW) futures increased 30 percent versus last year and five percent versus January. HRSW options volume increased 32 percent versus the year ago period and 92 percent versus January.
“The regulated marketplace for Hard Red Spring Wheat continues to be active,” Mark G. Bagan, President & CEO, MGEX said. “The dramatic growth in open interest translates into additional liquidity and new market participants. The growth we’re seeing this month is yet another testimony to the increased interest and confidence the marketplace has in MGEX and its contracts,” Bagan said.
February trading of the Exchange’s Soft Red Winter Wheat Index (SRWI) contract increased more than 200 percent over January trading while SRWI open interest increased 10 percent over the same period.
Additionally, electronic trading set a new February record with 90,826 contracts trading electronically, surpassing the previous record by 19,484 contracts or 27 percent. February 2010 is now the seventh best electronic trading month in Exchange history.