MINNEAPOLIS, MINNESOTA, U.S. — MGEX announced on Feb. 25 a new functionality involving its North American Hard Red Spring Wheat (HRSW) futures contract. Single-click trading functionality between the MGEX HRSW futures and KCBT Hard Red Winter Wheat (HRWW) futures contracts will be available beginning March 10 for a trade date of March 11.
MGEX collaborated with the CME Group to introduce single-click trading functionality between the two products after the successful launch of single-click trading functionality between the MGEX HRSW futures and the CBOT Soft Red Winter Wheat (SRWW) futures contracts in May 2012.
Once launched, market participants will have the additional convenience of single-click spread trading between the MGEX and KCBT wheat contracts in addition to the MGEX and CBOT wheat contracts. Available on the CME Globex trading platform, the single-click functionality addresses the inherent risk of legging the spread.
“The addition of the MGEX-KCBT single-click tool offers MGEX market participants around the world a more secure and convenient way to spread trade between the two wheat classes,” said Mark G. Bagan, president & chief executive officer, MGEX. “We are pleased to bring to market this innovative trading option and address marketplace demand.”
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