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CME Group Reaches Second-Highest Quarterly Volume Ever, Averaging 20.9 Million Contracts Per Day in Second-Quarter 2019

- Record quarterly average daily volume in Agricultural Commodities, Interest Rate options, Agricultural options and Metals options

- Record monthly average daily volume in Agricultural Commodities, Metals, Interest Rate options and Metals options

- Record monthly non-U.S. average daily volume of 6.2 million contracts and quarterly average daily volume of 5.4 million contracts

CHICAGO, July 2, 2019 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, reached average daily volume (ADV) of 20.9 million contracts during second-quarter 2019, up 14% from second-quarter 2018 and the second-highest quarterly volume on record. June 2019 volume averaged 23.1 million contracts per day, up 29% from June 2018. Open interest (OI) at the end of June was 141 million contracts, up 22% from year-end 2018 and up 23% from June 2018.

CME Group reached multiple quarterly ADV records during Q2. Highlights include: Record non-U.S. ADV, up 24% to 5.4 million contracts

  • Record Agricultural Commodities ADV, up 6% to 1.8 million contracts
  • Record Interest Rate options ADV, up 56% to 3.3 million contracts
  • Record Agricultural options ADV, up 10% to 359,000 contracts
  • Record Metals options ADV, up 39% to 78,000

    Options volume averaged 5.7 million contracts per day in June 2019, up 63% from June 2018, and reached its second-highest monthly ADV ever. Highlights include:

  • Record overall daily options volume of 10.8 million contracts set June 3
  • Record 8.8 million Interest Rate options contracts traded on June 3, including a record 4.8 million traded electronically 
  • Record Eurodollar options volume of 7 million contracts on June 3 and record OI of 71 million contracts on June 13
  • Record Interest Rate options monthly ADV of 4.3 million contracts, up 98%
  • Record Metals options ADV of 128,000 contracts, up 117%
  • Equity Index options ADV increased 5% to 612,000 contracts
  • Energy options ADV grew 4% to 274,000 contracts

    Interest Rate volume averaged 12.9 million contracts per day in June 2019, up 56% from June 2018. Highlights include:

  • Record 1.29 million Fed Fund futures contracts traded on June 19
  • Eurodollar futures and options ADV grew 89% to 7.1 million contracts
  • U.S. Treasury futures and options ADV increased 23% to 5.1 million contracts
  • Fed Fund futures ADV rose 112% to 588,000 contracts
  • Ultra 10-Year U.S. Treasury Note futures and options ADV grew 50% to 219,000 contracts
  • Weekly Treasury options ADV increased 39% to 211,000 contracts
  • Ultra U.S. Treasury Bond futures and options ADV increased 11% to 147,000 contracts

    Equity Index volume averaged 3.9 million contracts per day in June 2019, up 20% from June 2018. Highlights include:
     
  • Micro E-mini equity index futures averaged 437,000 contracts per day in June, and traded over 18 million contracts in total volume since their May 6 launch – the most successful product launch ever at CME Group
  • E-mini S&P 500 futures and options ADV increased 6% to 2.4 million contracts
  • E-mini Nasdaq-100 futures and options ADV grew 18% to 484,000 contracts
  • Nikkei 225 (yen) futures ADV grew 22% to 45,000 contracts

    Metals volume averaged a record 801,000 contracts per day in June 2019, up 20% from June 2018. Highlights include:

  • Record Gold options ADV, up 141% to 115,000 contracts
  • Record Copper options OI of 68,000 on June 24
  • Gold futures and options ADV increased 55% to 506,000 contracts
  • Silver futures and options ADV rose 12% to 143,000 contracts
  • Copper options ADV rose 111% to 3,300 contracts

    Agricultural volume averaged a record 2 million contracts per day in June 2019, up 1% from June 2018. Highlights include:

  • Record quarterly Corn futures and options ADV, up 30% to 774,000 contracts
  • Record Lean Hog options OI of 467,000 contracts on June 17
  • Corn futures and options June ADV grew 21% to 875,000 contracts
  • Grain and Oilseeds futures and options June ADV rose 1% to 1.8 million contracts
  • Livestock futures and options June ADV grew 13% to 170,000 contracts
  • Hard Red Winter Wheat futures and options June ADV increased 3% to 83,000 contracts

    Energy volume averaged 2.5 million contracts per day in June 2019, down 4% from June 2018. Highlights include:

  • Natural Gas futures and options ADV rose 13% to 533,000 contracts
  • Gasoline futures and options ADV increased 6% to 217,000 contracts
  • Brent Crude Oil futures and options ADV rose 14% to 137,000 contracts

    Foreign Exchange volume averaged 1.1 million contracts per day in June 2019, down 9% from June 2018. Highlights include:

  • Japanese yen futures and options ADV rose 7% to 168,000 contracts
  • Australian dollar futures and options ADV increased 6% to 131,000 contracts
  • Swiss franc futures and options ADV grew 21% to 41,000 contracts
  • New Zealand dollar futures and options ADV rose 17% to 36,000 contracts

BrokerTec fixed income trading activity highlights include: 

  • European Repo average daily notional value increased 4% to €279 billion
  • U.S. Repo average daily notional value increased 9% to $252 billion
  • U.S. Treasury average daily notional value grew 27% to $200 billion

Supplemental Disclosure
The Equity Index average rate per contract (RPC) starting in May will be impacted by the significant Micro E-mini equity index futures volume, which launched on May 6.  For reference, the Equity Index product line total volume for May was 93,127,399 contracts, while the Micro E-mini total volume was 9,299,092, or 10 percent of the total.  The average RPC for the Micro E-mini products in May was approximately $0.05.  For the full month of June 2019, the Equity Index product line total volume was 77,405,891 and the Micro E-mini total volume was 8,734,560.

Footnote: To see CME Group daily over-the-counter (OTC) notional cleared volumes and open interest, monthly OTC notional cleared volumes and monthly total trade count, go to http://www.cmegroup.com/education/cme-volume-oi-records.html

MONTHLY AVERAGE DAILY VOLUME (ADV)


Total Exchange ADV
(in thousands)



Jun 2019

Jun 2018


Trading Days

20

21






PRODUCT LINE

Jun 2019

Jun 2018

Percent Change

Interest Rates

12,852

8,216

56%

Equity Indexes

3,870

3,226

20%

Foreign Exchange (FX)

1,065

1,167

-9%

Energy

2,477

2,576

-4%

Agricultural Commodities

2,023

1,994

1%

Metals

801

666

20%

   Total

23,089

17,845

29%





VENUE

Jun 2019

Jun 2018

Percent Change

Open outcry

1,855

1,035

79%

CME Globex

19,948

16,156

23%

Privately negotiated

1,286

653

97%


QUARTERLY AVERAGE DAILY VOLUME (ADV)





Total Exchange ADV

(in thousands)



2Q 2019

2Q 2018


Trading Days

63

64






PRODUCT LINE

2Q 2019

2Q 2018

Percent Change

Interest Rates

11,593

9,200

26%

Equity Indexes

3,480

3,086

13%

Foreign Exchange (FX)

874

1,035

-15%

Energy

2,498

2,630

-5%

Agricultural Commodities

1,839

1,734

-6%

Metals

633

674

-6%

   Total

20,918

18,359

14%





VENUE

 2Q 2019

2Q 2018

Percent Change

Open outcry

1,501

1,066

41%

CME Globex

18,505

16,644

11%

Privately negotiated

912

649

40%


 

ROLLING THREE-MONTH AVERAGES


Average Daily Volume (In thousands) 



3-Month Period Ending

PRODUCT LINE

Jun-19

May-19

Apr-19

Mar-19

Interest Rates

11,593

10,809

9,787

10,313

Equity Indexes

3,480

3,364

2,837

3,161

Foreign Exchange (FX)

874

870

853

885

Energy

2,498

2,399

2,330

2,331

Agricultural Commodities

1,839

1,621

1,556

1,381

Metals

633

567

549

561

   Total

20,918

19,630

17,912

18,633







VENUE

Jun-19

May-19

Apr-19

Mar-19

Open outcry

1,501

1,334

1,209

1,284

Electronic

18,505

17,553

15,986

16,576

Privately negotiated

912

743

717

773




Average Rate Per Contract (In dollars)



3-Month Period Ending

PRODUCT LINE

May-19

Apr-19

Mar-19

Feb-19

Interest Rates

0.473

0.486

0.481

0.486

Equity Indexes

0.703

0.753

0.757

0.742

Foreign Exchange (FX)

0.733

0.763

0.763

0.769

Energy

1.136

1.157

1.159

1.173

Agricultural Commodities

1.219

1.253

1.246

1.264

Metals

1.462

1.487

1.488

1.484

   Total

0.695

0.726

0.713

0.714

 


BrokerTec Fixed Income and EBS Foreign Exchange Average Daily Notional Value 

(in billion USD unless otherwise stated, single count)





PRODUCT LINE

Jun 2018

Jun 2019

YoY %
Change

May 2019

MoM %
Change
 

U.S. Treasury1

156.6

199.6

27%

177.6

12%

U.S. Repo

230.1

251.6

9%

263.1

-4%

European Repo (in EUR billions)

269.7

279.6

4%

286.1

-2%

Spot FX

95.8

88.6

-7%

78.4

13%










12 Month ended Jun 30

PRODUCT LINE


2018


2019


% Change


U.S. Treasury


166.7


167.6


1%


U.S. Repo


243.8


242.5


-1%


European Repo (in EUR billions)


247.5


267.9


8%


Spot FX


89.7


81.5


-9%












[1] Volume information includes UST Benchmarks and Agencies. Off-the-Run securities, including T-Bills, are provided pursuant to an agreement with ICAP Securities USA LLC.

 

BrokerTec Fixed Income and EBS Foreign Exchange 3-Month Trailing Average Revenue

(U.S. dollars in millions)2



3-Month Period Ending

BUSINESS LINE

May-19

Apr-19

Mar-19

Feb-19

BrokerTec

48.4

46.9

47.6

47.3

EBS

48.5

46.2

48.9

48.3


[2] This data is representative of the subset of legacy NEX Group plc business revenue that flows into the Clearing and Transaction Fees line of the CME Group Income Statement along with revenue generated by CME Group futures and options volume, as well as over-the-counter swaps cleared.

As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest ratesequity indexesforeign exchangeenergyagricultural products and metals.  The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc.  All other trademarks are the property of their respective owners. 

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