News Release

CME Group Averaged 19.1 Million Contracts Per Day in March 2019

Tue Apr 02 2019

CHICAGO, April 2, 2019 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, reached average daily volume (ADV) of 19.1 million contracts during March 2019, compared to 20.8 million contracts in March 2018. In addition, total daily exchange trading volume surpassed 20 million contracts on each of the final six trading days in March. Open interest (OI) at the end of March 2019 was 126 million contracts, up 9% from year-end 2018 and unchanged from March 2018. First-quarter 2019 ADV marked the third-highest quarterly ADV ever with 18.6 million contracts, down from a record 22.2 million contracts in the first quarter of 2018.

Interest Rate volume averaged 10.4 million contracts per day in March 2019, down 3% from March 2018. Highlights include:

  • SOFR futures OI reached a record 151,000 contracts on March 20 and record daily volume of 83,000 contracts on March 22
  • Record SOFR futures ADV of 38,500 contracts, up 23% compared to last month
  • Record volume of 17.8 million Eurodollar options contracts traded during the final week of March
  • U.S. Treasury futures and options ADV increased 9% to 4.9 million contracts
  • Eurodollar options averaged 1.8 million contracts per day, up 5%
  • Fed Fund futures ADV rose 4% to 301,000 contracts
  • Ultra 10-year U.S. Treasury Note futures and options ADV grew 22% to 205,000 contracts
  • Ultra U.S. Treasury Bond futures and options ADV increased 10% to 146,000 contracts

Options volume averaged 4.1 million contracts per day in March 2019, down 3% from March 2018. Highlights include:

  • Interest Rate options ADV grew 12% to 2.9 million contracts
  • Metals options ADV increased 33% to 71,000 contracts

Foreign Exchange volume averaged 1 million contracts per day in March 2019, down 7% from March 2018. Highlights include:

  • Record Mexican peso OI of 325,000 contracts on March 15
  • Record Mexican peso futures ADV of 88,600 contracts, up 13% from March 2018
  • Record FX Link daily volume of 26,000 contracts, equivalent to $2.9 billion in notional value, on March 7
  • British pound futures and options ADV grew 11% to 171,000 contracts
  • Mexican peso futures and options ADV rose 13% to 89,000 contracts
  • Swiss franc futures and options ADV grew 6% to 33,000 contracts
  • New Zealand dollar futures and options ADV rose 2% to 31,000 contracts
  • Brazilian real futures and options ADV were up 50% to 8,000 contracts
  • Russian ruble futures and options ADV increased 19% to 6,800 contracts

Energy volume averaged 2.2 million contracts per day in March 2019, down 8% from March 2018. Highlights include:

  • Refined Products futures and options ADV grew 7% to 414,000 contracts
  • Gasoline futures and options ADV rose 26% to 245,000 contracts

Metals volume averaged 592,000 contracts per day in March 2019, down 13% from March 2018. Highlights include: 

  • Record Copper options OI of 68,000 contracts on March 25
  • Precious metals options ADV rose 29% to 68,000 contracts
  • Gold options ADV increased 33% to 62,000 contracts
  • Platinum futures and options ADV grew 12% to 30,000 contracts

Agricultural volume averaged 1.4 million contracts per day in March 2019, down 13% from March 2018. Highlights include:

  • Record Corn futures daily volume of 1.1 million contracts on March 29
  • Record Live Cattle futures OI of 455,000 contracts on March 22
  • Record Lean Hog futures and options ADV of 82,000 futures and 26,000 options contracts respectively
  • Livestock futures ADV rose 24% to 184,000 contracts
  • Lean Hog futures and options ADV grew 65% to 108,000 contracts

Equity Index volume averaged 3.5 million contracts per day in March 2019, down 21 % from March 2018. Highlights include:

  • E-Mini Russell 2000 futures and options ADV rose 5% to 199,000 contracts
  • S&P 500 End-of-Month options ADV grew 7% to 6,800 contracts
  • S&P 500 Total Return Index futures and options ADV rose 79% to 3,200 contracts

BrokerTec European Repo average daily notional value increased 7% to €286.8 billion.

Footnote: To see CME Group daily over-the-counter (OTC) notional cleared volumes and open interest, monthly OTC notional cleared volumes and monthly total trade count, go to http://www.cmegroup.com/education/cme-volume-oi-records.html

MONTHLY AVERAGE DAILY VOLUME (ADV)


Total Exchange ADV

(in thousands)



Mar 2019

Mar 2018


Trading Days

21

21






PRODUCT LINE

Mar 2019

Mar 2018

Percent Change

Interest Rates

10,403

10,713

-3%

Equity Indexes

3,499

4,410

-21%

Foreign Exchange (FX)

1,042

1,120

-7%

Energy

2,175

2,352

-8%

Agricultural Commodities

1,350

1,546

-13%

Metals

592

683

-13%

   Total

19,061

20,824

-8%




VENUE

 Mar 2019

Mar 2018

Percent Change

Open outcry

1,329

1,395

-5%

CME Globex

16,979

18,710

-9%

Privately negotiated

753

719

5%

 

QUARTERLY AVERAGE DAILY VOLUME (ADV)


Total Exchange ADV

(in thousands)



1Q 2019

1Q 2018


Trading Days

61

61






PRODUCT LINE

1Q 2019

1Q 2018

Percent Change

Interest Rates

10,313

11,948

-14%

Equity Indexes

3,161

4,096

-23%

Foreign Exchange (FX)

885

1,100

-20%

Energy

2,331

2,754

-15%

Agricultural Commodities

1,381

1,593

-13%

Metals

561

713

-21%

   Total

18,633

22,204

-16%







VENUE

        1Q 2019

1Q 2018

Percent Change

Open outcry

1,284

1,556

-18%

CME Globex

16,576

19,796

-16%

Privately negotiated

773

851

-9%

 

ROLLING THREE-MONTH AVERAGES

Average Daily Volume (In thousands) 



3-Month Period Ending

PRODUCT LINE

Mar-19

Feb-19

Jan-19

Dec-18

Interest Rates

10,313

10,256

10,575

10,919

Equity Indexes

3,161

3,699

4,004

4,511

Foreign Exchange (FX)

885

877

921

942

Energy

2,331

2,389

2,658

2,665

Agricultural Commodities

1,381

1,280

1,203

1,248

Metals

561

510

544

547

   Total

18,633

19,010

19,905

20,831






VENUE

Mar-19

Feb-19

Jan-19

Dec-18

Open outcry

1,284

1,224

1,178

1,128

Electronic

16,576

17,030

17,996

19,024

Privately negotiated

773

756

731

680

 

Average Rate Per Contract (In dollars)



3-Month Period Ending

PRODUCT LINE

Feb-19

Jan-19

Dec-18

Nov-18

Interest Rates

0.486

0.479

0.475

0.476

Equity Indexes

0.742

0.731

0.715

0.723

Foreign Exchange (FX)

0.769

0.745

0.720

0.711

Energy

1.173

1.160

1.150

1.143

Agricultural Commodities

1.264

1.277

1.261

1.248

Metals

1.484

1.465

1.428

1.394

   Total

0.714

0.708

0.697

0.705

 

BrokerTec Fixed Income and EBS Foreign Exchange Average Daily Notional Value 
(in billion USD unless otherwise stated, single count) 

     PRODUCT LINE

 Mar 2018

Mar 2019

YoY %
Change

Feb 2019

MoM %
Change
 

     U.S. Treasury1

188.9

176.6

-6%

155.6

13%

     U.S. Repo

264.8

261.5

-1%

246.3

6%

     European Repo (in EUR billions)

268.4

286.8

7%

270.5

6%

     Spot FX

92.7

83.0

-10%

73.9

12%









12 Month ended March 31


 PRODUCT LINE


2018

2019

  % Change


 U.S. Treasury


167.7

165.3

-1%


 U.S. Repo


240.8

236.7

-2%


 European Repo (in EUR billions)


237.6

262.7

11%


 Spot FX


86.4

85.5

-1%



[1] Volume information includes UST Benchmarks and Agencies. Off-the-Run securities, including T-Bills, are provided pursuant to an agreement with ICAP Securities USA LLC.

As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest ratesequity indexesforeign exchangeenergyagricultural products and metals.  The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.  With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively.  Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc.  All other trademarks are the property of their respective owners. 

CME-G

                                    

SOURCE CME Group

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