Paris, July 16, 1998 -- A record 1,489 rapeseed contracts were traded on Matif on 15 July 1998, up from the previous high of 1,237 contracts recorded on 10 January 1997. The figure reflects a new surge in open interest, which peaked at 19,178 lots.

Trading in rapeseed futures has risen by a remarkable 20% a year on average since the contract's launch on 28 October 1994.

This steady rise confirms its role as a market benchmark backed by an increase in over-the-counter trades covered with Matif products.

Altogether 2,608 commodities contracts-rapeseed, milling wheat and sugar-were traded on Matif on 15 July, with business buoyed by the successful switch to electronic trading on 26 June this year.

By the middle of the 16 July trading session, the new milling wheat contract reached a new record with 631 lots traded. This is higher than the full-day volume on 4 May 1998. The contract was launched on 27 March 1998 and open interest is rising steadily.

Appendix: trade volumes and open interest in Matif's rapeseed, milling wheat and sugar contracts.

Contacts:
Antoinette Bouvier-Darpy - Tel. +33/1 40 28 83 89
Nathalie Boschat - Tel. + 44/171 332 5920