CME Group announces record international trading volume of 8.4 million contracts in Q3 2024, driven by strong demand.
CME Group announces record international trading volume of 8.4 million contracts in Q3 2024, driven by strong demand.
CME Group has announced a remarkable achievement in its international trading operations for the third quarter of 2024, reporting a record international trading volume of 8.4 million contracts. This milestone highlights the growing demand for its diverse product offerings across global markets.
The company reported an average daily volume (ADV) of 8.4 million contracts, marking a 29% increase compared to last year. This surge underscores the robust demand for various trading products across global markets. The EMEA (Europe, Middle East, and Africa) region was a standout contributor to this growth, which saw a staggering 30% rise in trading volume, reaching a record ADV of 6.2 million contracts.
Foreign exchange (FX) trading particularly excelled in this region, with volumes climbing 18% year-over-year. Meanwhile, the Asia Pacific also demonstrated impressive growth, with a 28% increase to 1.8 million contracts. Latin America and Canada experienced increases of 12% and 21%, respectively.
Interest rate products emerged as the primary drivers of this international trading surge, accounting for three-quarters of the volume growth. CME Group reported a 32% year-over-year increase in interest rate product volumes, with SOFR futures contracts soaring by 38% and U.S. Treasury contracts rising by 25%. Energy and equity products also contributed positively, increasing by 30% and 25%, respectively.
Julie Winkler, CME Group’s Senior Managing Director and Chief Commercial Officer, emphasized the significance of these results, stating, “Our record Q3 international ADV was driven by significant increases in volume across all asset classes in EMEA and APAC. This reflects how our clients leverage our diverse product offerings to navigate market volatility.” The robust international performance also helped propel CME Group’s overall global ADV to a record 28.3 million contracts, a 27% increase from the previous year.
The U.S. Treasury complex reached an all-time quarterly ADV of 8.4 million contracts. In comparison, SOFR futures achieved a new high of 4.1 million contracts daily, further highlighting the exchange’s strong position in the derivatives market.
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