Minneapolis Grain Exchange (MGX) recorded two new trading records on 26 October indicating yet further growth of the exchange.
MGX recorded a new exchange electronic trading recording following trading on 24 October. Volume totalled 51,854 contracts surpassing the previous record of 50,755 trades which was set on 6 August.
In addition to growth in the exchanges electronic volume, total trading volume during the month equalled 175,002 contracts, exceeding the previous record of 139,336 contracts, set in 2006. Despite four trading days remaining in the month, the new record is a 29% increase on the previous high.
James Facente, director, market operations, clearing and IT at the exchange, hailed the new landmarks. Weve seen a steady increase in volume overall and specifically electronic volume, said Facente. What makes these records even more notable is that most of our previous record volume months were set during roll months as market participants were rolling some of their positions prior to delivery. The volume were seeing this month is yet another testimony to the increased interest and confidence the marketplace has in the MGX and its contracts.
Found this useful?
Take a complimentary trial of the FOW Marketing Intelligence Platform – the comprehensive source of news and analysis across the buy- and sell- side.
Gain access to:
- A single source of in-depth news, insight and analysis across Asset Management, Securities Finance, Custody, Fund Services and Derivatives
- Our interactive database, optimized to enable you to summarise data and build graphs outlining market activity
- Exclusive whitepapers, supplements and industry analysis curated and published by Futures & Options World
- Breaking news, daily and weekly alerts on the markets most relevant to you