MGEX (Exchange), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today announced total Exchange open interest increased 46 percent in May 2010 when compared to May 2009. Open interest on the Exchange’s flagship Hard Red Spring Wheat (HRSW) futures contract increased 41 percent when compared to May of last year, while HRSW options open interest increased by 45 percent in the period.
Volume for the Exchange’s flagship Hard Red Spring Wheat (HRSW) futures contract for May was 81,357. Additionally, the MGEX Soft Red Winter Wheat Index’s (SRWI) trading continues as participants become accustomed to this risk management tool. SRWI volume and open interest showed slight increases over the previous month.
This marks the 10th consecutive month of increased year over year total open interest, beginning August 2009.
“This increase in total open interest is reflective of market participants’ interest in our HRSW contract for their risk management needs as well as their desire for alternative risk management tools,” Mark G. Bagan, President & CEO, MGEX said. “The global marketplace continues to take advantage of the Exchange’s legacy risk management tools and explore its more recent offerings,” Bagan said.
