Trading volumes moderated in October after a particularly strong September. Total value traded on the NZX Securities Markets decreased by 6% in October to $2.0 billion compared to September 2010. However, daily average value traded increased by 4% from $98 million to $102 million over the same period. Total value traded on the NZX Debt Market decreased versus October 2009 but increased by 28% from September 2010, largely due to heavy trading in ANZ bonds.
Gross value of cleared trades by NZ Clearing Corp increased in October by 6.8% to $2.0 billion compared to September 2010. October clearing volumes benefited from particularly strong trading volumes at the end of September which, due to settlement time frames, are cleared in the subsequent month.
NZX Dairy Futures commenced trading on 8 October with the launch of the first product in a planned suite of products, Global Whole Milk Powder Futures. During the three weeks of trading in October 2010, the total volume traded was 25 lots. There was solid interest in the contract with offers quoted for every month through December 2011 and bids for the first three months.