The Minneapolis Grain Exchange (“MGEX” or “Exchange”) announced today that Dean Kinnas (a.k.a. Dean Kinnas Financial Group), a recognized market maker at the Chicago Mercantile Exchange (“CME”), has signed a letter of intent to act as a market maker in the Exchange’s financially settled, agricultural Index futures and options contracts by August.
Mr. Kinnas has been a member of the CME for nearly 20 years. During this time he has been a recognized market maker and liquidity provider in CME agricultural futures and options. “I’m excited about the opportunity to make markets in the MGEX index contracts,” said Kinnas. “I believe these contracts have a lot of potential for growth and are well designed for today’s marketplace.”
According to MGEX President and CEO Mark G. Bagan, the five financially settled index contracts have captured the interest of many in the industry. “We have heard very positive comments from producers, speculators and commercial traders about the value of these contracts,” he said. “We believe this agreement with the Kinnas group will be the catalyst to get the contracts trading and grow volume and open interest.”
Final details are being ironed out between the Exchange and Mr. Kinnas. Additional information will be sent once a specific timeline is set. Anyone interested in getting email notice of the timeline should contact Nancy Krull at nkrull@mgex.com or 612-321-7140.
For more information about the MGEX or the five financially settled agricultural Index contracts, go to http://www.mgex.com/indexes_index.html or call Joe Albrecht at 612-321-7151.
About Dean Kinnas
Dean Kinnas graduated from Colorado State University with a B.A. in Ag Business. He spent four years as a clerk in the CME ag quadrant before he began trading options and then futures and options. He primarily participates in the milk, hog, cattle and feeder cattle markets, but looks forward to diversifying into grains. He has served on the CME pit committee for seven years. He trades both electronically and by open outcry. Mr. Kinnas has been married for 12 years. He and his wife Katrina have two children, Sierra, 9, and Zachary, 7.
About Minneapolis Grain Exchange
MGEX, established in 1881, is the only market for Hard Red Spring Wheat, National Corn Index (NCI), National Soybean Index (NSI), Hard Red Winter Wheat Index (HRWI), Hard Red Spring Wheat Index (HRSI) and Soft Red Winter Wheat Index (SRWI) futures and options. To learn more about the MGEX visit our website at www.mgex.com.
