New York Mercantile Exchange's energy futures set a new volume high on 8 September when 235,758 contracts traded on Chicago Mercantile Exchange (CME)'s electronic platform, Globex, exceeding the previous record of 208,928 lots traded a day earlier. Meanwhile, its Crude oil futures crossed the 100,000 contract milestone, when 100,293 contracts were traded on 8 September.
CME planned to extend functionality on Globex for dairy class three milk futures to enable market users to "hedge their dairy positions for longer durations than a month at a time with a single trade execution," the exchange said. Available from 25 September, the exchange hoped that the new milk futures strips spreads, or packs, would "simplify" order execution and allow users to enter a single transaction to cover as little as three months and going out to 12 months.
CME also aimed to extend its global electronic...