MGEX, a Designated Contract Market and Derivatives Clearing Organization, announced on Tuesday electronic trading of Hard Red Spring Wheat (HRSW) futures and options was an estimated 18,322 or the third highest daily electronic trading total ever at the Exchange. Total HRSW futures and options volume was an estimated 18,932, making it the seventh best total exchange volume in MGEX history.
“The demand to use our Hard Red Spring Wheat contract as a hedging mechanism is evidenced by various recent volume records, including today’s record volume,” Mark G. Bagan, President & CEO, MGEX said. “MGEX market participants around the globe rely on our spring wheat contract as an important part of their risk management portfolios,” Bagan said.
Today’s total exchange and electronic daily volume records come on the heels of new monthly electronic volume records set each month in 2011. Complete volume and open interest information is available at www.mgex.com.