CME
Group (NASDAQ: CME) delivered record Q3 2024 revenue of $1.6 billion and
adjusted earnings of $2.68 per share, with growth across all asset classes.
Interest rate products led performance with a 36% volume surge, while FX
trading showed steady growth at 15.6%.
CME’s Strong Performance
Across Core Business
The
derivatives exchange operator posted a net income of $912.8 million ($2.50 per
diluted share), up from $750.2 million ($2.06 per share).
The
company’s overall average daily volume hit a record 28.3 million contracts in
the third quarter, with interest rate products leading the surge. Interest rate
trading volumes jumped 36% to 14.9 million contracts per day, driven by robust
activity in SOFR futures and Treasury products.
“Q3
2024 was the best quarter in CME Group history, with records across volume,
revenue, adjusted operating income, adjusted net income and adjusted earnings
per share,” said Terry Duffy, Chairman and Chief Executive Officer at CME
Group. “This marks the second consecutive quarter of volume, and open
interest increases across every asset class.”
CME Group
maintained a strong balance sheet with $2.6 billion in cash as of September 30,
2024. The company distributed approximately $419 million in dividends during
the quarter, continuing its commitment to shareholder returns.
Forex Trading Also Up
Foreign
exchange trading volumes increased to 1,089,000 contracts per day in Q3 2024,
up from 942,000 contracts in the same period last year.
“Our
financial product volumes rose 28%, reflecting a 36% jump in interest rates to
a record ADV of 14.9 million contracts. This was driven by a 35% rise in SOFR
futures to a record ADV of 4.1 million contracts and a 31% growth in Treasuries
to a record ADV of 8.4 million contracts. In addition, our commodities volume
was up 20%, options increased 27% and international ADV was a record 8.4
million contracts,” added Duffy.
Global
Growth showed particular strength, with EMEA volumes rising 30% and Asia up 28%
compared to the previous year. The company achieved record non-U.S. average
daily volume during the quarter.
This article was written by Damian Chmiel at www.financemagnates.com.
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