MGEX (Exchange), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today announced it recorded its second best volume month in the history of the Exchange in June with 211,841 total futures and options contracts trading. This marks the first time in over two years the Exchange has posted a top 20 total volume month and is second in total volume only to August 2007 when 216,593 contracts traded. June 14 ranked seventh all time in total daily Exchange volume when 18,209 contracts traded. June trading volume experienced dramatic growth versus the same period last year, up 57 percent. When compared to May 2010, June volume increased a staggering 151 percent.
Brisk trading of the Exchange’s flagship Hard Red Spring Wheat (HRSW) contract was a constant throughout the month with total HRSW futures trading of 208,237 in June, shattering the previous June record of 172,238 set in 2007.
MGEX saw seven of the top 10 electronic volume days in its history during the month, making June 2010 the best electronic trading month on record with 190,497 contracts traded. The total shatters by 45 percent the previous electronic monthly volume record set in November 2009 when 131,176 contracts traded electronically. With two months remaining in the fiscal year, the Exchange also set a new fiscal year electronic trading record in June, surpassing the fiscal year 2008-2009 record by 62,708 contracts. Fiscal year electronic trading through June totaled 993,723.
In additional to the record volume month in June, the Exchange also enjoyed a 49 percent year over year increase in open interest compared to June 2009 with 58,104 contracts held without an offsetting position.
“MGEX applauds our global market participants for their continued confidence in the Exchange and our risk management products and services,” Mark G. Bagan, President & CEO, MGEX said. “We look forward to building upon the tremendous records set in June,” Bagan said.