NZX’s Dairy Futures Market won Best New Agricultural Contract at the Futures & Options World (FOW) Awards for Asia, announced at a dinner in Singapore last night.
The FOW Awards celebrate the pioneers of derivatives trading in Asia-Pacific and the Middle East across brokerages, exchanges and technology providers.
NZX Head of Derivatives Kathryn Jaggard commented: “This is an exciting development for the Dairy Futures team and follows the substantial traction we have been getting in trading in the market, particularly from Europe, the US and Asia.”
“The award cements the work we are doing to help grow market participation and confidence and is recognition of those in the dairy industry who continue to support the growth in this market.”
NZX’s Dairy Derivatives demonstrated impressive growth in the first half of 2014, with volume traded up 311% compared to the same period last year. Strong volumes continued in July and August 2014 with new records set for volume traded in a single month, volumes rose 140% and 81% respectively on 2013.
Growth was underpinned by an extension of trading hours in August 2013, and the US regulatory agency the Commodity Futures Trading Commission (CFTC) approving direct access of US traders into the New Zealand derivatives market earlier this year.
