02 aug: Stjernekokke serverer eksotiske menuer fra 6 forskellige kontinen..
16 aug: Flytning af pension til Luxembourg – valg af kapitalforvalter og ..
07-08-2012 06:11:00

INTERVIEW: ASX Mulls Revised Grain Contracts To Boost Trading Volume - Executive

By Caroline Henshaw

SYDNEY--ASX Ltd. (ASX.AU), Australia's dominant exchange, is looking to rejig its grain futures contracts in a bid to capture business from the country's growing role as Asia's breadbasket, a senior executive at the exchange said Tuesday.

Dougal Hunter, ASX's manager of agricultural derivatives, said he hopes to replicate the surge in trading on Europe's main grain trading exchange since 2010 by allowing contracts to include grain delivered from different Australian ports that has been harvested in different seasons.

Consistently high grain prices since 2008 have grabbed the attention of bourses worldwide, with many of them trying to provide a wider platform to profit-hungry investors and improve their own bottom line in the bargain.

Earlier this year, the InterContinental Exchange launched its grains futures contracts. The CME Group was quick to respond by extending the trading hours for CBOT contracts of several agricultural commodities. CME also launched its Black Sea region wheat contract in June.

The potential for grains trade on bourses is huge as illustrated by average daily volumes of wheat traded on Paris-based NYSE Liffe - owned by NYSE Euronext (NYX) - which including both futures and options have risen to 27,185 lots in 2011 from just 6,992 lots in 2008.

"Being able to replicate the success story in Europe would be a fantastic achievement," said Mr. Hunter in an interview. "It demonstrates it's possible to establish an exchange outside the traditional home of North America. The industry would only benefit from a more liquid futures market here."

The Chicago Mercantile Exchange Group which now includes the Chicago Board of Trade has been a grain trading hub for centuries and has historically been considered the global benchmark for the industry.

But rising food demand from the growing middle classes of Asia and the Middle East have seen Australia and Black Sea producers take larger slices of the international grain trade, and prompted investors to seek new ways to profit from trading in different places.

In Australia, where wheat exports reached near record levels in the last fiscal year ended June 30, major exporters such as commodity giant Cargill Inc. say the local futures market is too underdeveloped to provide an effective hedging mechanism for the country's growing exports.

ASX's main New South Wales wheat contracts trades up to 1,200 contracts a day, less than a fifth of Liffe's daily average between January and May this year.

Mr. Hunter said ASX has been consulting buyers in Australia's main export markets in Asia, as well as traders and farmers in the domestic market, to ensure the modifications attract a larger investor base.

The changes, including allowing NSW wheat to be delivered from the states of Queensland, Victoria and South Australia, modifying the protein content specifications for the contracts and allowing wheat from different seasons to be delivered against the same contract would help this, he said.

The exchange is also evaluating the potential for Western Australia-based feed barley and canola contracts in response to rising Australian exports.

"Ultimately what we would like to see is a market in Australia that provides effective risk management for everyone in the supply chain," said Mr. Hunter.

Write to Caroline Henshaw at caroline.henshaw@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

August 07, 2012 00:11 ET (04:11 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
18 jan
OMXC25
@ Poppelkongen: Jeg tror ski da, at du har misforstået brugen af filteret?! Når du nævner, at du er..
37
17 jan
 
Hej alle,   Nu hvor jeg tager et sabat-år som investor i 2018, tænkte jeg, at jeg ville lave en upda..
26
19 jan
 
Jeg har på en fornemmelsen at i ikke bryder jer om mig? Ik sandt? Så har overvejet at stoppe på EI. ..
24
20 jan
 
Jeg stiller mig tvivlende,,,,,: At som dansk at betale til Prins Henrik & Co der skider DK en hatful..
19
15 jan
BEO-SDB
Godmorgen,   Som langt størstedelen af jer der har investeret i BEO ved, afventer vi svar fra Bergst..
18
19 jan
 
Måske du bare skulle revurdere din adfærd og generelle ageren?
16
15 jan
VWS
Vi har snakker Vestas Service en gang i dag, men jeg tror, at selv Vestas Group er overrasket over, ..
16
20 jan
TEVA
Mit råd er at lade være med at lytte til andre. Beslut dig, hvad du synes Teva er værd. Hvis den nuv..
15
18 jan
VWS
Utroligt, at det nu i flere år har været muligt og lovligt at handle under dæknavnet "Anonymous Brok..
15
19 jan
NOVO-B
Novo/Goldman: Kursmålet hæves med godt 30 pct. 19/1/2018 06.34· Ritzau Finans Den danske medicinalgi..
14

Novo Nordisk/Goldman: Diabetestablet vil få den høje vækst tilbage

19-01-2018 15:11:36
Novo Nordisk står med et meget stærkt kort på hånden, hvis selskabet får en tabletudgave af det store væksthåb Ozempic (Semaglutid) godkendt og sendt på markedet.Det mener den amerikanske investeringsbank Goldman Sachs, der vurderer, at investorerne på aktiemarkedet ikke har taget tilstrækkeligt højde for de store muligheder for diabetesmidlet.Derfor har banken hævet sit kursmål for Novo Nordisk-a..

WDH/SEB: Amerikansk høreapparatmarked vokser mere end ventet

19-01-2018 14:35:39
Der var mere fart på den private del af det amerikanske høreapparatmarked i slutningen af 2017, end den svenske bank SEB havde ventet.Det skriver Bloomberg News på baggrund af en analyse fra SEB.Den private del af det amerikanske høreapparatmarked voksede 7,3 pct. i fjerde kvartal mod 2,8 pct. i tredje kvartal ifølge tal fra American Hearing Aid Association. Det var højere, end SEB har ventet, og ..

Aktier/åbning: Børshuse skubber Chr. Hansen og Novo til tops

19-01-2018 09:23:02
Chr. Hansen og Novo Nordisk er strøget til tops på det danske aktiemarked og medvirker til at hive det danske C25-indeks i et solidt plus fredag morgen.Stemningen var ellers svagt negativ i futuremarkedet indtil kort før åbningen.C25-indekset stiger 0,5 pct. til 1160,09 og ligger til et samlet plus på 0,8 pct. i denne uge.Især Chr. Hansen er sprunget i vejret fra åbningen. Aktien stiger 3,9 pct. t..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Genmab får hastebehandlet Darzalex-ansøgning i USA
2
Aktier/tendens: Genmab kan tage fokus i forventet nervøs åbning
3
Sanofi køber Bioverativ for 11,6 mia. dollar
4
USA står op til lammet statsapparat efter udskudt afstemning
5
Genmab: Partner indstiller markedsføring af Arzerra i CLL uden for USA

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2018  Disclaimer Privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
22. januar 2018 08:57:00
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20180112.1 - EUROWEB1 - 2018-01-22 08:57:00 - 2018-01-22 08:57:00 - 1 - Website: OKAY