CME Group, the world's largest derivatives exchange, announced today (Monday) that its international average daily volume (ADV) reached a record 8.4 million contracts in the third quarter of 2024, marking a 29% increase from the same period last year. Notably, foreign exchange volumes also hit an all-time high, contributing to the overall growth across asset classes.

CME Group Reports Record International Trading Volume in Q3 2024, FX Hits New High

The Chicago-based company said the surge in international trading activity was broad-based, with growth across all product categories. Interest rate and equity products were the primary drivers, accounting for three-quarters of the volume increase.

Interest rate products saw particularly strong demand, with quarterly volumes jumping 32% year-over-year. SOFR futures contracts surged 38%, while Treasury contracts rose 25%. Energy products increased 30%, equity products climbed 25%, and foreign exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term volumes grew 14% to reach record levels.

This continues the trend seen in the second quarter of 2024, when CME Group reported volumes of $1.5 billion, with FX ADV increasing year-over-year by 20%.

“Our record Q3 international ADV was driven by significant increases in volume across all asset classes in EMEA and APAC, demonstrating how our clients turned to the breadth of our products to navigate unpredictability and volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term,” said Julie Winkler, Senior Managing Director and Chief Commercial Officer at CME Group. “Going forward, we remain focused on partnering with our clients to help them manage risk, pursue opportunities and expand their businesses internationally.”

EMEA Secures Top Spot

Regionally, Europe, Middle East, and Africa (EMEA) led the way with a record ADV of 6.2 million contracts, up 30% from Q3 2023. In this region, FX products showed particularly strong performance, with ADV growing 18% year-on-year. Asia Pacific volumes rose 28% to 1.8 million contracts, while Latin America and Canada saw increases of 12% and 21%, respectively.

The strong international performance contributed to CME Group's overall record global ADV of 28.3 million contracts in Q3, a 27% year-over-year increase. This was driven largely by interest rate products, which hit a record 14.9 million contracts per day, up 36% from last year.

CME Group's U.S. Treasury complex reached an all-time quarterly ADV record of 8.4 million contracts, while SOFR futures hit a new high of 4.1 million contracts per day.