MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today announced October futures and options trading volume of 149,923 contracts, a 33 percent increase over the same period a year ago. Total exchange open interest was up 39 percent over October of last year, led by a strong increase in open interest of Hard Red Spring Wheat (HRSW) futures contracts. HRSW futures open interest totaled 67,318 in October 2010, compared to 43,339 in the same period last year.
October 2010 marked the fifth highest month for electronic trading with 128,170 contracts trading electronically. October 19 was a top 20 electronic trading day when 10,127 futures and options contracts traded electronically.
“The lack of rain in the plains, deteriorating conditions in Australia and continued demand for high protein products has provided support to our Hard Red Spring Wheat contract,” Joe Victor, Business Development Specialist, MGEX said. “We also are seeing new participants in our market,” Victor said.
MGEX volume and open interest information as well as market commentary, charts and other information is available on the Exchange’s website at www.mgex.com.
MGEX also announced the addition of Joe Victor as Business Development Specialist. Victor comes to the Exchange with 30 years of experience in the cash, futures and agricultural investment industries.
“Joe Victor is a well-respected and experienced addition to the MGEX team,” Mark G. Bagan, President & CEO, MGEX said. “His industry knowledge and credibility will serve our members and market participants well,” Bagan said.
