BM&FBOVESPA’s derivatives market (including futures and options) registered a volume of 35.4 million contracts traded in June 2008, a 6.6% increase in comparison to the same period last year (33.3 million). The average daily trading volume also rose, with 1.69 million contacts, 1.5% higher than the 1.6 million registered in June 2007. Financial volume also increased: BRL2.4 trillion, a 6.6% growth against the BRL2.3 trillion obtained in May. The daily average also stepped up 1.6%, reaching BRL115.6 billion, in comparison to the BRL113.6 billion registered during the same period last year.
Among BM&FBOVESPA’s derivatives products, the markets with the best performance were interest and foreign exchange rates. Both segments were in the lead in terms of financial volume and number of contracts traded. The interest rate market traded 18.9 million contracts, an 11.1% increment on the 17 million contracts traded over the previous period. Interest rates surged 7.3%, reaching BRL1.4 trillion and topping the financial volume of BRL1.3 trillion registered in May.
The foreign exchange rate market registered 10.9 million contracts, a 6.2% decrease in comparison to the 11.6 million traded in May. Despite the reduction in the total number of contracts traded, the segment’s financial volume rose, summing BRL667.9 billion, 0.9% greater than the BRL662.1 billion registered last month.
Agricultural commodities reach a record of 397,500 contracts in June
With 379,500 contracts traded in June, the agricultural commodity market (including futures and options) set a milestone record of total trading volume in a single month. The previous record was set on May 2008, with 335,100 contracts.
The live cattle and corn markets also set historical records. The live cattle market, which set a previous record last May (189,800 contracts), ended June with 212,400 contracts, equivalent to 4.2 million cattle heads. The corn market, with 68,500 contracts traded in June (1.8 million tones), surpassed by 22% the prior record set the month before (56,100 contracts).
The Arabica coffee and ethanol markets are also worth highlighting: coffee, which had registered 57,900 contracts in May, traded 69,000 contracts in June; and ethanol, with 3,000 contracts traded, exceeded by 39.2% the previous record of 2,200 contracts set in May.
Open interest
Open interest reached 22.6 million contracts at the end of June, surmounting by 0.9% the previous amount of 22.4 million contracts registered in May.
The agricultural markets were responsible for 139,900 contracts
of the total open interest, the largest volume in their history.
Their former record was 126,900 contracts, set at the end of May
2008. In the options market, live cattle also registered a record:
open interest reached 7,900 contracts at the end of the last trading
day of June in comparison to 5,200 contracts at the end of May
2008.
