CME Group Hits New High in International Trading Volume, Reaching 6.8M Contracts

Wednesday, 10/01/2024 | 09:15 GMT by Damian Chmiel
  • The result is 8% better than the previous year.
  • On a global scale, ADV amounted to 24.4 million contracts per day.
CME Group
Bloomberg

CME Group announced today (Wednesday) that its average daily trading volume (ADV) outside the United States reached a record high of 6.8 million contracts in 2023, an increase of 8% over 2022.

CME Group International Volume Reaches New High

The growth was primarily driven by Equity Index and Interest Rate products, which rose 26% and 23%, respectively, compared to the previous year.

In Europe, the Middle East, and Africa, the average daily volume hit 4.9 million contracts, up 13% versus 2022. This growth was led by a rise of 29% in Interest Rate products and an uptick of 26% in Agricultural products.

"As uncertain market conditions continue into 2024, we remain committed to working closely with our clients outside of the U.S. to access our robust, regulated marketplace with round-the-clock liquidity,” Derek Sammann, the Senior Managing Director and Global Head of Commodities, Options & International Markets at CME Group, stated.

In Latin America, the average daily volume grew to a record 176,000 contracts in 2023, up 11% from 2022. This was led by 28% growth in Foreign Exchange products, 27% in Interest Rate products, and 24% in Metals products.

The Asia Pacific region reached 1.6 million contracts per day. Interest Rate product volume was up 5% year-over-year to a record 689,000 contracts per day. In Canada, the average daily volume totaled 153,000 contracts in 2023, with the volume of Energy and Agricultural Products up 22% and 7%, respectively, versus 2022.

Global Full-Year 2023 Highlights

Globally, CME Group reported a record average daily volume of 24.4 million contracts in 2023, an improvement of 5% compared to the previous year. This growth was largely attributable to a lift of 16% in Interest Rate products to 12.5 million contracts per day.

Options ADV saw an incline of 23%, reaching a record 5.1 million contracts. Record annual ADVs in Interest Rate, Equity Index, and Agricultural options drove this growth.

The Energy sector's ADV rose by 5%, totaling 2.1 million contracts, highlighted by a record in Natural Gas options ADV. Agricultural and Metals sectors also elevated their ADVs by 17% and 15%, respectively.

A month ago, the company announced its plans to launch a new spot foreign exchange (FX) marketplace called CME FX Spot+ in 2024. The platform will connect spot FX participants directly with CME's existing FX futures liquidity pool.

CME Group announced today (Wednesday) that its average daily trading volume (ADV) outside the United States reached a record high of 6.8 million contracts in 2023, an increase of 8% over 2022.

CME Group International Volume Reaches New High

The growth was primarily driven by Equity Index and Interest Rate products, which rose 26% and 23%, respectively, compared to the previous year.

In Europe, the Middle East, and Africa, the average daily volume hit 4.9 million contracts, up 13% versus 2022. This growth was led by a rise of 29% in Interest Rate products and an uptick of 26% in Agricultural products.

"As uncertain market conditions continue into 2024, we remain committed to working closely with our clients outside of the U.S. to access our robust, regulated marketplace with round-the-clock liquidity,” Derek Sammann, the Senior Managing Director and Global Head of Commodities, Options & International Markets at CME Group, stated.

In Latin America, the average daily volume grew to a record 176,000 contracts in 2023, up 11% from 2022. This was led by 28% growth in Foreign Exchange products, 27% in Interest Rate products, and 24% in Metals products.

The Asia Pacific region reached 1.6 million contracts per day. Interest Rate product volume was up 5% year-over-year to a record 689,000 contracts per day. In Canada, the average daily volume totaled 153,000 contracts in 2023, with the volume of Energy and Agricultural Products up 22% and 7%, respectively, versus 2022.

Global Full-Year 2023 Highlights

Globally, CME Group reported a record average daily volume of 24.4 million contracts in 2023, an improvement of 5% compared to the previous year. This growth was largely attributable to a lift of 16% in Interest Rate products to 12.5 million contracts per day.

Options ADV saw an incline of 23%, reaching a record 5.1 million contracts. Record annual ADVs in Interest Rate, Equity Index, and Agricultural options drove this growth.

The Energy sector's ADV rose by 5%, totaling 2.1 million contracts, highlighted by a record in Natural Gas options ADV. Agricultural and Metals sectors also elevated their ADVs by 17% and 15%, respectively.

A month ago, the company announced its plans to launch a new spot foreign exchange (FX) marketplace called CME FX Spot+ in 2024. The platform will connect spot FX participants directly with CME's existing FX futures liquidity pool.

About the Author: Damian Chmiel
Damian Chmiel
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Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.

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