In addition, HighGround will be opening an office in Singapore in Q4 2015 to support our brokerage and advisory business units in Southeast Asia. HighGround will be able to provide customers the flexibility of opening a trading account within the United States or in Singapore.
Market participants now have access to all four global exchanges that offer dairy futures and options including the Chicago Mercantile Exchange (CME), European Energy Exchange (formerly Eurex), Euronext and now NZX through HighGround Dairy.
Eric Meyer, president of HighGround Dairy commented: “We have worked very hard with NZX for over two years to bring a US clearing participant to the exchange and have finally achieved that goal. As a broker, an end-user, an analyst and a risk management advisor, I have been intimately involved in the growth and success of the CME dairy markets over the past 14 years. HighGround is excited to bring our knowledge and experience of developing dairy futures and options markets to global producers, end-users and traders that have price exposure to volatile dairy commodities. Education is the key to unlocking the potential of the NZX derivatives market and HighGround plans to make a significant investment in developing the knowledge base of market participants across the supply chain.”
“NZX is excited to have HighGround Dairy offering services into our dairy derivatives market. The addition of new brokers such as HighGround is essential to accelerating the already significant growth we have seen in our market.” Kathryn Jaggard, head of derivatives at NZX said.
NZX Dairy Derivatives experienced growth in lots traded of 177% in 2014 and continues to see increased participation in the market, with volumes in the first eight months of 2015 showing growth of 119% over the same period last year. August 2015 was a record month, with more than 35,000 lots traded.
