NZX celebrated a milestone in the development of its NZ milk price futures
contract on Friday, with more than one million kilograms of milk solids
(kg/ms) traded since the product launched at the end of May.
The total number of contracts traded since launch was 184 at close of trading
on Friday. Each contract is worth 6,000 (kg/ms), totalling 1,104,000 kg/ms.
The 2016/17 contract has traded at an average price of $4.53, while the
2017/18 average contract price was $5.60.
NZX Head of Markets Mark Peterson commented: "In the context of how long
futures contracts take to develop we''re delighted that NZ milk price futures
and options have made such a strong start."
"NZX is committed to working with market participants to develop a broad set
of risk management tools for New Zealand dairy farmers. We operate in a
competitive global marketplace and NZX''s growing suite of risk management
tools provides farmers with the flexibility they need to manage risk."
"Product launches are a team effort and we are grateful to our brokers,
clearing members, and those in the dairy industry for their support."
NZX launched the milk price futures contracts on 27 May 2016. This was
followed by the launch of milk price options on 30 June. To learn more about
these contracts please visit: nzx.com/derivatives
For further information please contact:
Hannah Lynch
Communications Manager
T: 09 308 3710
M: 021 252 8990
E: hannah.lynch@nzx.com
About NZX Limited
NZX builds and operates capital, risk and commodity markets and the
infrastructure required to support them. We provide high quality information,
data and tools to support business decision making. We aim to make a
meaningful difference to wealth creation for our shareholders and the
individuals, businesses and economies in the countries in which we operate.
To learn more about NZX please visit: www.nzxgroup.com
End CA:00285450 For:NZX Type:GENERAL Time:2016-07-11 08:30:10