CME Group,
the world’s largest derivatives exchange, announced today (Monday) that its
international average daily volume (ADV) reached a record 8.4 million contracts
in the third quarter of 2024, marking a 29% increase from the same period last
year. Notably, foreign exchange volumes also hit an all-time high, contributing
to the overall growth across asset classes.
CME Group Reports Record
International Trading Volume in Q3 2024, FX Hits New High
The
Chicago-based company said the surge in international trading activity was
broad-based, with growth across all product categories. Interest rate and
equity products were the primary drivers, accounting for three-quarters of the
volume increase.
Interest
rate products saw particularly strong demand, with quarterly
volumes jumping 32% year-over-year. SOFR futures contracts surged 38%,
while Treasury contracts rose 25%. Energy products increased 30%, equity
products climbed 25%, and foreign exchange volumes grew 14% to reach record
levels.
This
continues the trend seen in the second quarter of 2024, when CME Group reported
volumes of $1.5 billion, with FX
ADV increasing year-over-year by 20%.
“Our
record Q3 international ADV was driven by significant increases in volume
across all asset classes in EMEA and APAC, demonstrating how our clients turned
to the breadth of our products to navigate unpredictability and
volatility,” said Julie Winkler, Senior Managing Director and Chief
Commercial Officer at CME Group. “Going forward, we remain focused on partnering
with our clients to help them manage risk, pursue opportunities and expand
their businesses internationally.”
EMEA Secures Top Spot
Regionally,
Europe, Middle East, and Africa (EMEA) led the way with a record ADV of 6.2
million contracts, up 30% from Q3 2023. In this region, FX products showed
particularly strong performance, with ADV growing 18% year-on-year. Asia
Pacific volumes rose 28% to 1.8 million contracts, while Latin America and
Canada saw increases of 12% and 21%, respectively.
The strong
international performance contributed to CME Group’s overall record global ADV
of 28.3 million contracts in Q3, a 27% year-over-year increase. This was driven
largely by interest rate products, which hit a record 14.9 million contracts
per day, up 36% from last year.
CME Group’s
U.S. Treasury complex reached an all-time quarterly ADV record of 8.4 million
contracts, while SOFR futures hit a new high of 4.1 million contracts per day.
This article was written by Damian Chmiel at www.financemagnates.com.
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