Electronic trading of Hard Red Spring Wheat (HRSW) futures and options today hit a new daily record high of 10,350 contracts at MGEX (Minneapolis Grain Exchange or Exchange). Today’s volume surpassed by 2,856 contracts the previous electronic volume record of 7,494 contracts set on January 23, 2009.
The new daily record brings the April 2009 electronic volume to 64,240 contracts, making it the 7th highest monthly electronic volume in Exchange history with seven trading days remaining. October 2008 is currently the highest electronic volume month on record with 82,931 contracts traded electronically.
“Through the implementation of the Liquidity Provider Program at MGEX, new market participants are realizing the value of using MGEX risk management products,” said Joe Albrecht, Vice President of Business Development. “Today’s volume is indicative of customer confidence in the integrity and transparency of the HRSW contract,” Albrecht said.