CME reports record trading in Short-Dated New Crop Corn Options
CME Group (NASDAQ) reported a daily volume record for its Short-Dated New Crop Corn options on Monday, April 8 as volume reached a record 7,733 contracts. This surpassed the previous record set on January 4, 2013 when 6,505 contracts traded.?
In addition, on April 8, combined open interest for Short-Dated New Crop Corn and Soybean options surpassed 100,000 contracts for the first time and ended trading on the following day with 101,472 contracts.?
Short-Dated New Crop Options on CBOT Corn, Soybeans and Wheat expire earlier than traditional new crop options; they were introduced by exchange in 2012 and they?are listed by and subject to the rules of CBOT.
SGX. CFFEX Sign MOU
In other global futures action,?SGX and the China Financial Futures Exchange (CFFEX) signed a Memorandum of Understanding (MOU) for cooperation in the development of the derivatives markets in China and Singapore. This agreement follows the previous MOUs SGX has signed with Chongqing, Fujian, Jiangsu, Liaoning, Shandong, Tianjin and Zhejiang, and the Agricultural Bank of China.
Under the MOU, the two exchanges will explore potential areas of cooperation such as ?product and market development, information sharing and human resources training. With the agreement, the exchanges will also look at synergies to address the demands and needs for China and Singapore’s market participants, according to a press release.
Magnus Bocker, chief executive officer of SGX, said via a statement, “We consistently pursue new opportunities to enhance our unique offering of Asian derivatives to satisfy the diverse needs of our global customers. This MOU marks a significant milestone for SGX and reinforces our commitment to the China market.”?
Rong Zhiping, deputy CEO of CFFEX, added, “Our strategic goal is to establish a world class exchange, so it is necessary to draw from the overseas markets and cooperate closely with our international peers. CFFEX values the friendship with SGX and expects to promote the cooperation in common interests.”