The hooks are out buy no one is biting on NZX's first new market offering in 17 years.After its second day of trading, NZX's whole milk powder futures market is still to make a sale.However, NZX head of derivatives Kathryn Jaggard said quotes have arrived
The hooks are out buy no one is biting on NZX’s first new market offering in 17 years.
After its second day of trading, NZX’s whole milk powder futures market is still to make a sale.
However, NZX head of derivatives Kathryn Jaggard said quotes have arrived out until April next year for 25 tonnes of whole milk powder for each calendar month.
She said a slow start was expected and many potential participants were waiting for the first trade to go through to see how it all went.
In addition, Ms Jaggard said a number of participants were still going through their own internal processes be trade on the futures market.
Similar markets with the Chicago Mercantile Exchange in the United States and Eurex in Germany have traded for five months with just one transaction on the books.
