Lots traded in NZX Dairy Futures have now passed the 20,000 milestone since its launch.
NZX launched its dairy futures market with whole milk powder futures in October 2010, followed by skim milk powder and anhydrous milk fat futures early last year.
While it took just on a year for the first 10,000 lots to be traded, the second 10,000 lots took just four months.
It was a "real milestone" for the product and demonstrated clearly that liquidity was building and participation was growing, NZX head of derivatives Kathryn Jaggard said.
"Support from the industry in using these contracts has been tremendous and that continuing and growing participation means NZX Dairy Futures are the most liquid tool available for managing price risk in globally traded dairy commodities," she said.
December, January and February were traditionally months with lower levels of activity due to global holidays but last month saw activity kick back in with a record-volume month.
March also recorded the largest volume day and the largest volume week in the history of NZX Dairy Futures. Average daily volume was now at an all-time high of more than 200 lots a day.
"NZX Dairy Futures are now in place where many super liquid futures contracts started, with a good base of liquidity and growing global support. "What is pleasing is that we are also seeing increased activity in this market from customers in Asia who are hedging dairy purchases and we expect that activity to increase," Ms Jaggard said.
NZX chief executive Mark Weldon said it was a great result for those looking for viable tools to mitigate risk.
