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MGEX (Exchange), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today announced August 2010 total volume of 206,447 contracts traded, marking the third-best total volume month in Exchange history. Fiscal year 2009-2010 total volume reached 1,543,550, the fourth-highest fiscal year volume ever at MGEX. August 2010 volume was 75 percent higher than the previous August. Fiscal year 2009-2010 total volume was nearly 31 percent better than the previous fiscal year.
Electronic volume also broke records in August and the fiscal year. With 173,676 contracts trading electronically, August 2010 was the second-highest electronic trading month ever at MGEX, second only to June 2010 when 190,497 contracts traded electronically. Eighteen of the top 20 electronic trading days occurred in fiscal year 2010 with November 9, 2009 topping the list at 18,592 contracts trading electronically. Additionally, eleven of the top 20 electronic trading volume months occurred during the 2009-2010 fiscal year.
Futures and options trading of the Exchange’s flagship Hard Red Spring Wheat (HRSW) contract totaled 1,531,742 in fiscal year 2009-2010. The Soft Red Winter Wheat Index (SRWI) contract, a financially-settled risk management tool, saw 11,808 futures and options contracts trade during the fiscal year.
“MGEX continues to see increased participation in our Hard Red Spring Wheat futures and options contracts due to new market participants in North America and around the globe,” Mark G. Bagan, President & CEO, MGEX said. “As a result, MGEX has experienced record volume and increased open interest during fiscal year 2009-2010,” Bagan said.
MGEX open interest is 45 percent higher than a year ago with 63,190 open contracts. For complete volume and open interest information, visit the Exchange website at www.mgex.com.
