Miami International Holdings, Inc. (MIAX®) (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced the successful launch of four physically-settled fertilizer futures contracts on MIAX Futures® — NOLA Urea (Ticker: MGU) Futures, NOLA Mono-ammonium Phosphate (Ticker: MAP) Futures, NOLA Di-ammonium Phosphate (Ticker: DAP) Futures, and NOLA Potassium Chloride (Ticker: MOP) Futures.
The four new products are traded on the MIAX Futures Onyx electronic trading platform and cleared through MIAX Futures Clearing.
"Imported fertilizer is a vital input for global food production and with one third of all fertilizer traded by sea passing through the Strait of Hormuz, ongoing volatility in the region exposed significant vulnerabilities in the commodity's supply chain," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. "MIAX Futures' physically-settled fertilizer futures provide a transparent, exchange-traded mechanism for managing risk and establishing price discovery during times of uncertainty."
"Volatility in global fertilizer markets reinforces the importance of risk-management tools and price transparency throughout the supply chain," said Roger Baker, Vice President, Crop Nutrients Product Line at CHS, a leading global agribusiness and the largest farmer-owned cooperative in the United States. "Customers and suppliers benefit from having access to tools and strategies that can help manage risk as they make purchasing, production and marketing decisions."
"MIAX Futures has worked closely with the agricultural industry for over a century, and we remain committed to supporting the needs of our customers with product and technology innovation," said Shelly Brown, Chief Strategy Officer of MIAX and Chief Executive Officer of MIAX Futures.
For more information, visit https://www.miaxglobal.com/fertilizer-futures-products.
