The new dairy futures market planned by stock exchange operator NZX is getting a warm reception.
Over the next three weeks, NZX will receive and consider submissions to newly released consultation papers about the regulation and operation of the derivatives market, which will be launched with wholemilk powder trading and expand over time into other commodities.
NZX head of traded products Fiona MacKenzie said the bourse had conducted a thorough pre-consultative programme with the Securities Commission, potential participants and derivative market specialists and expected a thoughtful, rather than a quick, response.
The futures market launch date has yet to be announced. NZX will only say equity options, index futures and dairy commodity derivative products will be offered in phases over the coming year.
Meanwhile, an upgrade of NZX’s clearing and settlement system to improve the risk profile of its markets and broaden …
Read the original article at nzherald
