New Record for Trading in Rapeseed Future at MATIF

On June 17 daily trading in the Matif rapeseed future hit a record high of 1,963 lots - representing 98,150 tonnes of rapeseed - beating the previous record of 1,750 lots recorded on January 19 this year. This peak came against a backdrop of low market prices relative to trends observed since the launch of the contract. Launched less than five years ago, the Matif rapeseed future is now a recognised benchmark for the underlying market in Europe. Several hundred participants trade in the contract, which is now the basis for pricing of a large proportion of physical deliveries. Trading was up 40% in 1998 and 70% in the months from January to June this year compared with the same period of 1998. Since the beginning of 1999, daily trading has averaged over 500 contracts, representing the equivalent of 25,000 tonnes of rapeseed. In response to this success, the ParisBourseSBFSA acting in partnership with ONIDOL, the professional association for oilseed industries in France, recently introduced an option on the rapeseed future. Since its launch on May 28, 480 options contracts have been traded.