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Screenshot of a breaking news alert e-mail from Q2 2017
NZX informed it will launch a Global Skim Milk Powder (SMP) Option contract on December 4, 2017. This follows all regulatory requirements being met, including approval of the contract specification from the Financial Markets Authority.
The contract is being launched in response to growing trading volumes in NZX’s SMP Futures market, which are up 113% this year, and demand from the broader market as interest in NZX’s suite of dairy risk management tools increases.
NZX Head of Derivatives Nick Morris commented:
NZX is continually looking to expand its product offering in response to customer feedback, the addition of a Global Skim Milk Powder Option contract will provide traders in our global market with another tool to help manage volatility in dairy commodity prices.
Quote vendor codes, exchange fees, starting prices, and all other details pertaining to the first trading day will be released to the market shortly.