Chicago Mercantile Exchange
(CME) Group, a top derivatives marketplace, released its latest market
performance figures on Tuesday, reporting a 24% growth in its average daily
volume (ADV) in March 2023. The volume reached 30.3 million contracts at the
end of the month and represents the company’s second-highest March ADV on
record.
The exchange’s first quarter
2023 ADV also increased by 4% to 26.9 million contracts, representing the
second-highest quarterly volume ever, CME Group said. The monthly and quarterly growth were pushed by increases in ADV across most of CME Group’s products and offerings include interest rate, options, equity index and digital asset derivatives.
Providing more details, CME
Group disclosed that while its interest rate ADV increased by 40% year-over-year (YoY) in
March 2023, options ADV jumped by 46% YoY. The increase in interest rate ADV was
pushed by record numbers of contracts traded. For instance, Secured Overnight
Financing Rate (SOFR) futures reached a record ADV of 5,158,969 contracts on
March 9. The marketplace’s SOFR options ADV also peaked at a record 2,943,422
contracts on the same day.
Among other products, CME Group
also saw its foreign exchange ADV jump by 17% in March with the Japanese Yen
futures ADV increasing by 36% and the Canadian dollar futures shooting up by
23%. Finance Magnates previously reported that the marketplace saw a record single-day volume of forex futures and options contracts of 3.15
million contracts on March 8, 2023, with the new volume equivalent to $296
billion in USD notional.
Furthermore, cryptocurrency derivatives were
also not left out. While Bitcoin futures ADV increased by 51%, Ether futures
ADV rose by 46% in March 2023.
On a quarterly basis, the same pattern was produced. CME
reported a 16% YoY growth in its interest rate ADV which came in at
record 14,489,970 contracts. The growth in interest rate ADV includes, among
others, record SOFR futures and options ADV of 3,907,864 contracts and
2,429,682 contracts, respectively.
Furthermore, CME’s options ADV
jumped by 26% YoY to record 5,810,179 contracts during the first quarter of
2023. The marketplace operator’s forex ADV also rose by 7%, with the Japanese
Yen and Mexican Peso futures ADV surging by 33% and 32%, respectively.
Moreover, the ADV of Bitcoin and
Ether futures traded in the marketplace also shot up by 26% and 14%,
respectively, during Q1 2023.
Vida Markets’ new hire; funding of TerraPay, Bidget; read today’s news nuggets.
Chicago Mercantile Exchange
(CME) Group, a top derivatives marketplace, released its latest market
performance figures on Tuesday, reporting a 24% growth in its average daily
volume (ADV) in March 2023. The volume reached 30.3 million contracts at the
end of the month and represents the company’s second-highest March ADV on
record.
The exchange’s first quarter
2023 ADV also increased by 4% to 26.9 million contracts, representing the
second-highest quarterly volume ever, CME Group said. The monthly and quarterly growth were pushed by increases in ADV across most of CME Group’s products and offerings include interest rate, options, equity index and digital asset derivatives.
Providing more details, CME
Group disclosed that while its interest rate ADV increased by 40% year-over-year (YoY) in
March 2023, options ADV jumped by 46% YoY. The increase in interest rate ADV was
pushed by record numbers of contracts traded. For instance, Secured Overnight
Financing Rate (SOFR) futures reached a record ADV of 5,158,969 contracts on
March 9. The marketplace’s SOFR options ADV also peaked at a record 2,943,422
contracts on the same day.
Among other products, CME Group
also saw its foreign exchange ADV jump by 17% in March with the Japanese Yen
futures ADV increasing by 36% and the Canadian dollar futures shooting up by
23%. Finance Magnates previously reported that the marketplace saw a record single-day volume of forex futures and options contracts of 3.15
million contracts on March 8, 2023, with the new volume equivalent to $296
billion in USD notional.
Furthermore, cryptocurrency derivatives were
also not left out. While Bitcoin futures ADV increased by 51%, Ether futures
ADV rose by 46% in March 2023.
On a quarterly basis, the same pattern was produced. CME
reported a 16% YoY growth in its interest rate ADV which came in at
record 14,489,970 contracts. The growth in interest rate ADV includes, among
others, record SOFR futures and options ADV of 3,907,864 contracts and
2,429,682 contracts, respectively.
Furthermore, CME’s options ADV
jumped by 26% YoY to record 5,810,179 contracts during the first quarter of
2023. The marketplace operator’s forex ADV also rose by 7%, with the Japanese
Yen and Mexican Peso futures ADV surging by 33% and 32%, respectively.
Moreover, the ADV of Bitcoin and
Ether futures traded in the marketplace also shot up by 26% and 14%,
respectively, during Q1 2023.
Vida Markets’ new hire; funding of TerraPay, Bidget; read today’s news nuggets.
