CME Group’s EBS Spot FX Rises 7%, FX Links 145% YoY in June

The Chicago Mercantile Exchange (CME) Group, a leading derivatives marketplace, recorded 7% year-on-year (YoY) growth at its Electronic Broking Services (EBS) in June.

The average daily notional value (ADNV) of spot forex on the wholesale electronic trading platform hit $65.4 billion in June.

EBS is used to trade on the forex market with market-making banks.

CME Group shared these details on Tuesday in a statement detailing its market statistics for its second quarter (Q2) and June 2022.

In a statement shared with Finance Magnates, Paul Houston, the Global Head of FX at CME Group, noted that CME FX Link volumes jumped 145% YoY in June 2022.

CME FX Link, a spot forex service at CME Globex, hits a peak record of 82,900 contracts worth more than $7.2 billion in ADVN on June 16.

These contracts, which is the highest single-day record on the derivatives platform, surpassed the previous daily volume peak of 77,146 contracts recorded on March 10, 2020

‘Third-Highest Quarterly Volume Ever’

Meanwhile, CME Group’s average daily volume (ADV) climbed 25% to 23.1 million contracts in Q2 2022. CME said this is its third-highest quarterly volume ever.

Additionally, in June the company’s ADV shot up 30% to 24 million contracts. It is the highest volume in June on record, CME said.

The group, which reported revenue of $1.3 billion in Q1 2022, hit a record quarterly international ADV of 7.3 million contracts in its first quarter.

FX Futures and Options in June and Q2

In June, CME FX futures and options ADV stood at 1.2 million contracts.

On a YoY basis, the company’s forex ADV increased 25% with Japanese Yen options leading with a 92% jump.

The Japanese Yen FX futures comes next with a 66% increase, followed by British Pound futures which saw a jump of 21% in ADV.

Euro FX futures and E-Mini Euro FX futures take the bottom spot with ADV increases of 17% and 10%, respectively.

Furthermore, CME said its forex ADV spiked by 24% in Q2 2022.

The company saw a quarterly record in Brazilian Real futures ADV of 17,042 contracts.

On the other hand, while the Japanese Yen options' ADV jumped 119% in Q2, forex futures in this category climbed 49%.

The Canadian dollar option sits at the bottom of the category with an ADV increase of 33% in the second quarter of this year.