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MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), is pleased to announce the first deliveries of Apple Juice Concentrate (AJC) product via the AJC futures contract occurred over the last week.
“It was very encouraging to see that MGEX has developed such a solid delivery mechanism for their new AJC futures contract. Their first physical deliveries were a great success,” stated Kevin Barley, a futures broker and past chairman of the Juice Products Association Futures Committee.
The MGEX AJC futures and options contract launched on August 13, 2012 in response to apple juice industry demand for developing tools to manage price and counterparty risk. With this multi-billion dollar global industry growing at roughly six percent per year, the new MGEX risk management tools can be critical to provide market price protection to all parties involved.
“With so much time invested in developing the contract specifications and delivery mechanism, it is rewarding to see the first physical delivery process successfully executed,” stated Mark G. Bagan, President & CEO, MGEX. “This milestone should further build market participants’ confidence in the risk management functions the AJC futures and options contract provides.”
Complete AJC contract details can be found at www.mgex.com/ajc/.
