MGEX Announces December And Calendar Year End Open Interest Growth

MGEX today announced December 2009 open interest for Hard Red Spring Wheat (HRSW) futures increased 63 percent over December 2008 to 46,589 contracts. MGEX total open interest for calendar year 2009 increased 61 percent.

The 2009 calendar year marked a new record for electronic trading at MGEX with 1,043,715 futures and options contracts trading electronically, breaking the previous record set in calendar year 2008 when 714,411 futures and options contracts traded electronically. The new record marks a 46 percent increase in electronic trading year over year. The MGEX Soft Red Winter Wheat Index (SRWI) enjoyed renewed interest in 2009 with year end open interest of 2,024 futures contracts and a record 8,854 futures and options contracts traded.

“The renewed interest in the Soft Red Winter Wheat Index and strong open interest growth in 2009 helps position MGEX well for 2010,” said Rita Maloney, Director, Marketing & Business Development, MGEX. “Market participants in search of alternative risk management products will find the MGEX index products offer superior hedging alternatives. Additionally, the MGEX Hard Red Spring Wheat contract is well positioned to see continued growth,” Maloney said.