MGEXpress®, the exchange's electronic trading platform, includes trading for National Corn Index (NCI) and National Soybean Index (NSI) futures and options. Rolfe & Nolan, the leading supplier of global straight through processing solutions to the futures and options industry, has completed development of the MGEXpress® API and is already in production with several RANorder clients. RANorder is an ASP-based, white-label solution providing, retail, commercial and professional trade entry, pre-trade credit control, exchange routing and real-time account updates.
"State-of-the-art exchange access and widespread availability of MGEXpress® are high priorities for us," said Kent Horsager, MGEX president and chief executive officer. "Since RANorder is widely accepted among our customer base, we saw the opportunity to work with Rolfe & Nolan to deliver NCI and NSI markets in the most expedient and efficient manner, removing many of the traditional barriers to customer participation."
"Rolfe & Nolan is excited to be able to contribute to the continuing success and functionality of the MGEXpress® platform," said Jim Birney, chief financial officer of Rolfe & Nolan Systems Inc. "We work closely with exchanges to accelerate the development and distribution of new software functionality, thereby reducing potential time-to-market issues and increasing the level of market involvement from the Rolfe & Nolan clients."
MGEXpress® may also be accessed with a browser via the Internet, by leasing a telecommunications line or by connecting through a Virtual Private Network (VPN) through the Internet. Additionally, MGEX members have the alternative of connecting via a wireless network on the MGEX trading floor.
NCI and NSI futures and options offer buyers and sellers of corn and soybeans risk management tools that are reflective of country origin pricing, which can translate into reduced basis volatility.
