News Release

CME Group Volume Averaged 13.0 Million Contracts per Day in 2008, Up 4 Percent From 2007 on a Combined Basis

Mon Jan 05 2009

- Delivered eighth consecutive year of record volume on a combined basis

 

- 2008 total equity index volume was up 35 percent, exceeding 20 percent annual growth for fourth consecutive year

 

- Achieved double-digit volume growth for seventh consecutive year in foreign exchange products and commodities products

 

- 2008 OTC volume cleared on ClearPort was up 39 percent

 

CHICAGO, Jan. 5 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, today announced 2008 volume totaled 3.3 billion contracts, representing the eighth consecutive year of record volume, assuming combined CME Group/NYMEX volumes, and $1.2 quadrillion in notional value. Daily volume in 2008 averaged 13.0 million contracts per day, up 4 percent from 2007 on a combined basis. Total electronic volume averaged 10.3 million contracts per day, up 12 percent from the prior year and representing 79 percent of total exchange volume. Average daily volume cleared on NYMEX ClearPort was 468,000 contracts for 2008, up 39 percent compared with 2007, highlighting market participants' increased interest in the safety and soundness of CME Group's regulated, transparent and centrally cleared markets.

 

CME Group 2008 E-mini equity index volume averaged 3.5 million contracts per day, up 37 percent compared with 2007. Equity standard volume averaged 190,000 contracts per day, up two percent compared with the prior year. CME Group commodities and alternative investments volume averaged 848,000 contracts per day, up 11 percent from 2007. CME Group foreign exchange (FX) contracts volume averaged 624,000 contracts per day, up 10 percent, and represented an average daily notional value of $85 billion. CME Group interest rate volume averaged 6.1 million contracts per day, down 12 percent compared with the same period in 2007.

 

Total NYMEX volume averaged 1.8 million contracts for 2008, up 19 percent compared with the prior year. Annual NYMEX energy futures and options volume averaged 1.0 million contracts per day, up 11 percent from 2007. COMEX metals volume averaged 221,000 contracts per day for 2008, up 40 percent. Average daily volume cleared on NYMEX ClearPort was 468,000 contracts for 2008, up 39 percent compared with 2007. The remaining NYMEX volume of 74,000 trades per day consisted of other transactions, which include position transfers and exchanges.

 

All references to CME Group volume and rate per contract information in the text of this document exclude our non-traditional TRAKRS products, for which CME Group receives significantly lower clearing fees than other CME Group products, and Swapstream products.

 

Fourth-quarter daily volume averaged 10.4 million contracts, down 14 percent compared with the same period last year on a combined basis. Quarterly volume highlights included 35 percent growth in E-mini equity index products and 58 percent growth in average daily volume cleared on ClearPort. Daily volume averaged 8.2 million contracts in December, down 22 percent compared with December 2007. Both E-mini equity index volume and OTC volume cleared on ClearPort demonstrated strong growth in December as well, growing 15 percent and 56 percent, respectively. The PJM off-peak and peak electricity swap futures contracts were launched on ClearPort on December 8 and are priced at approximately 3 cents and 40 cents per contract, respectively. The lower priced off-peak contracts averaged 43,000 contracts per day from the launch until the end of the month, while the peak contracts averaged 4,000 contracts per day. These lower priced contracts represented 8 percent of the volume cleared on ClearPort for the full month of December and 2.5 percent of the cleared volume in the fourth quarter. As a result, the rolling 3-month average rate per contract for ClearPort through December is expected to decrease.

 

 

ANNUAL AVERAGE DAILY VOLUME (ADV)

 

Total Exchange Pro Forma ADV (Legacy CME, CBOT, and NYMEX combined, in thousands)

 

                                  2008            2007         Percent Change
      Total                     12,992          12,454                4%


 

CME Group ADV (Legacy CME and CBOT combined, in thousands)

    PRODUCT LINE                  2008            2007         Percent Change
    Interest Rates               6,085           6,920              -12%
    E-minis                      3,473           2,529               37%
    Equity Standard                190             186                2%
    FX                             624             569               10%
    Commodities and Alt. Inv.      848             766               11%
      Total                     11,219          10,970                2%


 

    VENUE                          2008            2007        Percent Change
    Open outcry                   1,755           2,283             -23%
    CME Globex                    9,289           8,504               9%
    Privately negotiated            175             183              -4%


 

NYMEX/COMEX ADV (In thousands)

 

                                  2008            2007         Percent Change
    NYMEX floor                    213             261              -18%
    NYMEX electronic               798             649               23%
    COMEX floor                     37              44              -15%
    COMEX electronic               184             113               62%
    NYMEX ClearPort                468             336               39%
    Other                           74              82              -10%
      Total                      1,773           1,485               19%


 

 

QUARTERLY AVERAGE DAILY VOLUME (ADV)

 

Total Exchange Pro Forma ADV (Legacy CME, CBOT, and NYMEX combined, in thousands)

 

                               Q4 2008         Q4 2007         Percent Change
      Total                     10,441          12,113              -14%


 

CME Group ADV (Legacy CME and CBOT combined, in thousands)

 

    PRODUCT LINE               Q4 2008         Q4 2007         Percent Change
    Interest Rates               3,692           6,290              -41%
    E-minis                      3,799           2,817               35%
    Equity Standard                194             166               17%
    FX                             481             561              -14%
    Commodities and Alt. Inv.      691             740               -7%
      Total                      8,857          10,574              -16%


 

    VENUE                      Q4 2008         Q4 2007         Percent Change
    Open outcry                  1,275           1,876              -32%
    CME Globex                   7,447           8,528              -13%
    Privately negotiated           136             169              -20%


 

NYMEX/COMEX ADV (In thousands)

 

                               Q4 2008         Q4 2007         Percent Change
    NYMEX floor                    166             229              -28%
    NYMEX electronic               682             704               -3%
    COMEX floor                     29              42              -32%
    COMEX electronic               144             147               -2%
    NYMEX ClearPort                489             310               58%
    Other                           75             107              -30%
      Total                      1,584           1,539                3%


 

 

MONTHLY AVERAGE DAILY VOLUME (ADV)

 

Total Exchange Pro Forma ADV (Legacy CME, CBOT, and NYMEX combined, in thousands)

 

                            December 2008   December 2007      Percent Change
    Total                        8,228          10,605              -22%


 

CME Group ADV (Legacy CME and CBOT combined, in thousands)

 

    PRODUCT LINE            December 2008   December 2007      Percent Change
    Interest Rates               2,741           5,332              -49%
    E-minis                      2,908           2,520               15%
    Equity Standard                175             210              -17%
    FX                             405             510              -20%
    Commodities and Alt. Inv.      577             700              -17%
      Total                      6,806           9,271              -27%


 

    VENUE                   December 2008   December 2007      Percent Change
    Open outcry                  1,013          1,661               -39%
    CME Globex                   5,685          7,409               -23%
    Privately negotiated           108            200               -46%


 

NYMEX/COMEX ADV (In thousands)

 

                            December 2008   December 2007      Percent Change
    NYMEX floor                    137             191              -28%
    NYMEX electronic               644             619                4%
    COMEX floor                     17              25              -31%
    COMEX electronic               105              99                6%
    NYMEX ClearPort                462             295               56%
    Other                           56             106              -47%
      Total                      1,421           1,335                6%

ROLLING THREE-MONTH AVERAGES

 

CME Group (Legacy CME and CBOT combined)

Average Rate Per Contract (In dollars)

                                      3-Month Period Ending
                             Nov-08     Oct-08           Sep-08     Aug-08
    Interest Rates            0.545      0.539            0.521      0.519
    E-minis                   0.703      0.703            0.677      0.670
    Equity Standard           1.559      1.529            1.486      1.444
    FX                        0.915      0.932            0.936      0.911
    Commodities/Alt.
     Investments              1.167      1.144            1.154      1.155
                              -----      -----            -----      -----
    Total                     0.691      0.684            0.659      0.658
    Open outcry               0.619      0.608            0.607      0.608
    Electronic                0.672      0.665            0.637      0.634
    Privately negotiated      2.546      2.533            2.526      2.481

 

Average Daily Volume (In thousands)

 

                                      3-Month Period Ending
                             Dec-08        Nov-08        Oct-08     Sep-08
    Interest Rates            3,692         5,156         5,538      6,030
    E-minis                   3,799         4,444         4,049      3,638
    Equity Standard             194           238           228        204
    FX                          481           625           681        710
    Commodities/Alt.
     Investments                691           746           786        822
                                ---           ---           ---        ---
    Total                     8,857        11,208        11,282     11,404
    Open outcry               1,275         1,595         1,607      1,602
    Electronic                7,447         9,445         9,510      9,641
    Privately negotiated        136           167           165        161


 

 

NYMEX/COMEX

Average Rate Per Contract (In dollars, on a pro forma basis*)

 

                                                3-Month Period Ending
                             Nov-08        Oct-08        Sep-08     Aug-08
    NYMEX floor                1.60          1.36          1.39       1.40
    NYMEX electronic           1.30          1.30          1.32       1.32
    COMEX floor                1.76          1.73          1.63       1.64
    COMEX electronic           1.75          1.74          1.72       1.73
    NYMEX ClearPort            2.11          2.04          1.93       1.92
    Other                      1.99          1.97          1.93       1.86
                               ----          ----          ----       ----
    Total Pro Forma
     Average Gross Rate        1.66          1.60          1.57       1.56

    Total Pro Forma
     Average Net Rate          1.56          1.53          1.49       1.48


 

Pro forma adjustment excludes the Globex payment to CME Group from the NYMEX electronic, COMEX electronic and Direct Transaction Cost lines. Average RPC by venue are gross figures - NYMEX historically reported average net RPC by venue.

 

Average Daily Volume (In thousands)

 

                                 3-Month Period Ending
                             Dec-08        Nov-08        Oct-08     Sep-08
    NYMEX floor                 166           184           185        194
    NYMEX electronic            682           754           796        831
    COMEX floor                  29            36            35         36
    COMEX electronic            144           186           192        214
    NYMEX ClearPort             489           509           500        492
    Other                        75            78            59         62
    Total                     1,584         1,746         1,767      1,828


 

CME Group (www.cmegroup.com) is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers $7 billion in financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME."

 

The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex and E-mini, are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX, New York Mercantile Exchange, and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at www.cmegroup.com.

CME-G

SOURCE: CME Group

Web site: http://www.cme.com/
http://www.cmegroup.mediaroom.com/

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