News Release

CME Group Reaches Second-Highest Monthly Volume Ever, Averaging 23.9 Million Contracts Per Day in May 2019

Tue Jun 04 2019

CHICAGO, June 4, 2019 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, reached average daily volume (ADV) of 23.9 million contracts during May 2019, up 19% from May 2018. Open interest (OI) at the end of May was 143 million contracts, up 24% from year-end 2018 and up 14% from May 2018. OI reached a record 143.5 million contracts on May 23, 2019.

Equity Index volume averaged 4.2 million contracts per day in May 2019, up 61% from May 2018. Highlights include:

  • Micro E-mini equity index futures, launched May 6, averaged 489,000 contracts per day in May, and traded nearly 9.3 million contracts in total volume – the most successful product launch ever at CME Group
  • Record Bitcoin futures ADV, up 246% to 13,600 contracts
  • E-mini S&P 500 futures and options ADV increased 44% to 2.7 million contracts
  • E-mini Nasdaq-100 futures and options ADV grew 66% to 594,000 contracts
  • Mini $5 Dow futures and options ADV increased 33% to 268,000 contracts
  • E-mini Russell 2000 futures and options ADV rose 45% to 149,000 contracts
  • Nikkei 225 (yen) futures ADV grew 39% to 45,000 contracts

Options volume averaged 5 million contracts per day in May 2019, up 40% from May 2018, and reached its second-highest monthly ADV ever. Highlights include:

  • Record overall daily options volume of 10 million contracts set May 31
  • Record 7.7 million Interest Rate options contracts traded on May 31, with a record 3.9 million traded electronically
  • Record Eurodollar options volume of 5.2 million contracts and OI of 64.4 million contracts on May 31
  • Record Agricultural options ADV, up 50% to 453,000 contracts
  • Interest Rate options ADV grew 49% to 3.4 million contracts
  • Equity Index options ADV increased 39% to 808,000 contracts
  • Metals options ADV rose 9% to 59,000 contracts

Agricultural volume averaged 1.9 million contracts per day in May 2019, up 31% from May 2018. Highlights include all-time record volume of 3.2 million contracts set May 31 and:

  • Record Corn futures and options ADV, up 78% to 861,000 contracts
  • Grain and Oilseeds futures and options ADV increased 34% to 1.7 million contracts
  • Soybean futures and options ADV rose 9% to 321,000 contracts
  • Livestock futures and options ADV grew 15% to 191,000 contracts
  • Hard Red Winter Wheat futures and options ADV increased 19% to 69,000 contracts

Interest Rate volume averaged 13.8 million contracts per day in May 2019, up 19% from May 2018, and reached its second-highest monthly ADV ever. Highlights include:

  • Record Ultra Treasury Bond futures OI of 1.3 million contracts on May 29
  • Record 2-Year U.S. Treasury Note futures ADV, up 43% to 1.2 million contracts
  • Record Ultra 10-Year Treasury Note futures ADV, up 27% to 327,000 contracts
  • Record 5-Year U.S. Treasury Note options ADV, up 48% to 235,000 contracts
  • Record SOFR futures OI of 168,000 contracts on May 31
  • Record SOFR futures ADV of 32,000 contracts, up 41% from the prior month
  • U.S. Treasury futures and options ADV increased 14% to 7.9 million contracts
  • Eurodollar futures and options ADV grew 26% to 5.5 million contracts
  • Fed Fund futures ADV rose 30% to 431,000 contracts
  • Weekly Treasury options ADV increased 102% to 286,000 contracts
  • Ultra 10-Year U.S. Treasury Note futures and options ADV grew 27% to 327,000 contracts
  • Ultra U.S. Treasury Bond futures and options ADV increased 17% to 314,000 contracts

Energy volume averaged 2.5 million contracts per day in May 2019, down 6% from May 2018. Highlights include:

  • Record Brent Crude Oil futures OI of 257,000 contracts on May 29
  • Gasoline futures and options ADV increased 5% to 224,000 contracts
  • Brent Crude Oil futures ADV rose 45% to 146,000 contracts

Metals volume averaged 582,000 contracts per day in May 2019, down 14% from May 2018. Highlights include:

  • Gold options ADV increased 10% to 51,000 contracts
  • Platinum futures and options ADV grew 6% to 19,000 contracts
  • Copper options ADV rose 141% to 2,300 contracts
  • Ferrous futures and options ADV increased 120% to 1,600 contracts

Foreign Exchange volume averaged 822,000 contracts per day in May 2019, down 25% from April 2018. Highlights include:

  • Japanese yen futures ADV rose 6% to 12,500 contracts
  • Brazilian real futures and options ADV increased 8% to 8,500 contracts

BrokerTec fixed income trading activity highlights include: 

  • European Repo average daily notional value increased 10% to €286 billion
  • U.S. Repo average daily notional value increased 15% to $263 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)



May 2019

May 2018


Trading Days

22

22






PRODUCT LINE

May 2019

May 2018

Percent Change

Interest Rates

13,827

11,604

19%

Equity Indexes

4,233

2,622

61%

Foreign Exchange (FX)

822

1,102

-25%

Energy

2,530

2,701

-6%

Agricultural Commodities

1,895

1,442

31%

Metals

582

674

-14%

   Total

23,888

20,146

19%





VENUE

      May 2019

May 2018

Percent Change

Open outcry

1,558

1,092

43%

CME Globex

21,473

18,358

17%

Privately negotiated

857

696

23%

 

ROLLING THREE-MONTH AVERAGES


Average Daily Volume (In thousands) 



3-Month Period Ending

PRODUCT LINE

May-19

Apr-19

Mar-19

Feb-19

Interest Rates

10,809

9,787

10,313

10,256

Equity Indexes

3,364

2,837

3,161

3,699

Foreign Exchange (FX)

870

853

885

877

Energy

2,399

2,330

2,331

2,389

Agricultural Commodities

1,621

1,556

1,381

1,280

Metals

567

549

561

510

   Total

19,630

17,912

18,633

19,010






VENUE

May-19

Apr-19

Mar-19

Feb-19

Open outcry

1,334

1,209

1,284

1,224

Electronic

17,553

15,986

16,576

17,030

Privately negotiated

743

717

773

756

 

Average Rate Per Contract (In dollars)



3-Month Period Ending

PRODUCT LINE

Apr-19

Mar-19

Feb-19

Jan-19

Interest Rates

0.486

0.481

0.486

0.479

Equity Indexes

0.753

0.757

0.742

0.731

Foreign Exchange (FX)

0.763

0.763

0.769

0.745

Energy

1.157

1.159

1.173

1.160

Agricultural Commodities

1.253

1.246

1.264

1.277

Metals

1.487

1.488

1.484

1.465

   Total

0.726

0.713

0.714

0.708

 

BrokerTec Fixed Income and EBS Foreign Exchange Average Daily Notional Value 

(in billion USD unless otherwise stated, single count)







PRODUCT LINE

 May 2018

May 2019

YoY %
Change

Apr 2019

MoM %
Change


U.S. Treasury1

178.2

177.6

0%

143.2

24%


U.S. Repo

229.2

263.1

15%

246.9

7%


European Repo (in EUR billions)

260.4

286.1

10%

280.7

2%


Spot FX

101.3

78.4

-23%

67.3

16%





12 Month ended May 31







PRODUCT LINE

2018

2019

% Change



U.S. Treasury

167.5

164.2

-2%



U.S. Repo

243.5

240.8

-1%



European Repo (in EUR billions)

243.4

267.1

10%



Spot FX

88.7

82.1

-7%







[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. 

 

SOURCE CME Group

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