Continuing a pattern of strong year-over-year volume and open interest growth, MGEX (Exchange) today announced March 2010 total futures and options volume grew 20 percent over the same period last year to 92,397. Total open interest increased 57 percent over March 2009.
Volume for the Exchange’s flagship Hard Red Spring Wheat (HRSW) futures contract increased 18 percent in March 2010 to 89,969. HRSW options volume enjoyed a 134 percent increase.
Additionally, trading of the MGEX Soft Red Winter Wheat Index (SRWI) continued, adding to the overall volume increase. Electronic milestones were also realized in March 2010. With 77,353 contracts traded electronically, last month was the best March electronic trading on record at the Exchange and the number marked the twelfth best month of electronic trading in Exchange history. Electronic trading of MGEX contracts on March 31 totaled 9,465, the seventh best electronic trading day recorded at the Exchange.
“We continue to enjoy strong volume and open interest growth in 2010,” Mark G. Bagan, President & CEO, MGEX said. “It’s a global marketplace and MGEX contracts are available to the world via the CME Globex® electronic trading platform. Coupled with market participants’ continued confidence in our contracts, I expect the growth trend in both volume and open interest to continue throughout the year,” Bagan said.
March 2010 was the third consecutive month the Exchange total volume and open interest grew compared to the year ago period. In February 2010, total volume increased 31 percent while open interest increased 62 percent over February 2009. January 2010 total volume increased 34 percent and open interest increased 82 percent over the year ago period.
