OneChicago, LLC has reported a new open interest record of 612,458 contracts attained Wednesday, compared to the old record of 551,501 reached in March of this year. Volume for the year increased to 1,977,958 contracts, surpassing the 1,922,726 traded in all of 2004. Open interest is the total number of contracts that have not yet been offset or taken to delivery.
OneChicago President Marty Doyle said, “Our latest open interest record reflects the confidence market participants have in OneChicago. And the Exchange’s volume increases are the result of more and more traders using single stock futures for a variety of their portfolio needs.”
Each single stock futures contract is equivalent to 100 shares of the underlying stock or exchange-traded fund.