StoneX Financial Europe has launched a Fat-Filled Milk Powder (FFMP) contract, introducing an over-the-counter dairy derivative developed in collaboration with Expana, a global information platform for the agri-food sector. This initiative addresses the volatility of raw milk prices, which has hitherto offered industry participants no effective hedging mechanisms. The FFMP contract is now available for trading, with further products planned to enhance risk management for clients. Liam Fenton, Global Head of Dairy & Food Group at StoneX, emphasises the importance of this offering, as it provides clients with insights into their risk profiles in a volatile market, whilst Marcel Goldenberg of Expana highlights the opportunities for trust and arbitrage that this product is designed to create in the market.