Russian Derivatives Trading Drives Record Month on EDX London

Russian Derivatives Trading Drives Record Month on EDX London

Trading on EDX London reached record levels in June 2008, with 5.7 million contracts traded during the month, an average of 286,161 trades per day. During the first six months of 2008, a total of 29.9 million contracts were traded on the service, while the average daily number of contracts traded increased 63 per cent on the first half of 2007 to 238,927.

The volume growth on EDX London was driven by very strong trading on the FTSE Russia IOB equity derivatives service. 2.4 million contracts were traded during the month, the first time the total number of trades has exceeded 2 million. The average daily number of trades was ten times the average for June 2007 at 113,646, and exceeded the record set in May 2008 by 63 per cent. A new record was also set on 17 June, when 426,134 trades were transacted on the service, the heaviest single day’s trading to date.

At the June expiry, Open Interest in Russian single stock options grew to 6.8 million contracts, compared with 3.9 million contracts at December 2007 expiry, and 0.7 million in June 2007.

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