MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today launched the Apple Juice Concentrate (AJC) futures and options contract. For the first time, market participants could access the AJC futures and options market, orders were placed, transactions were cleared by MGEX and quotes were distributed. There was trade activity in the November 2012 contract month.
“MGEX is pleased the operational foundation for the AJC contract was proven successful,” said Mark G. Bagan, MGEX President & CEO. “It is great to see market participants finally having the opportunity to utilize this new risk management tool,” said Bagan.
AJC trading hours are from 7:00 a.m. to 1:10 p.m. Central Time (CT) on the CME Globex® electronic trading platform. The following table highlights key symbols for Globex
| Apple Juice Concentrate Futures and Options | |||
| Product | tag 1151- Security Group | tag 55-Symbol (Outrights) | tag 55-Symbol (UDS) |
| Apple Juice Concentrate Futures | AJC | AJ | - |
| Options on Apple Juice Concentrate Futures | AJC | A0 (zero) | A1 |
In an effort to provide cost efficient trading for market participants, MGEX is offering reduced exchange fees for AJC trades; MGEX members will be able to trade with no exchange fees while non-MGEX members can trade for a nominal exchange fee of $1.
The new AJC futures and options contract offers a tool for market participants to manage price risk and protect against adverse cash price movements in the AJC market. The contract is designed to reduce counterparty risk, a benefit to both the AJC seller and the AJC buyer. With this multi-billion dollar global industry growing at roughly 6% per year, this new risk management tool is necessary to provide market price protection to all parties involved.
AJC trading hours resume tomorrow morning, August 14, at 7:00 a.m. (CT). Complete AJC contract details can be found at www.mgex.com/ajc/.
