CME Group has reported record SOFR futures contract, traded on 18 October 2021.
The derivatives marketplace registered 396,421 SOFR futures contracts, which surpassed the previous record of 341,922 contracts set on 18 June 2021.
SOFR futures averaged over 212,000 contracts per day, compared to the 137,000 contracts on average per day in September.
SOFR futures open interest has continued on a growth path as well. On 19 October 2021, it reached record 1,166,016, which up 170% and increased 16% in one month, having surpassed one million contracts of open interest on 15 September 2021.
Agha Mirza, CME Group Global Head of Rates and OTC Products, said:
Agha Mirza Source: LinkedIn
As the market continues to manage their interest rate risk ahead of key transition deadlines, clients are increasingly adopting SOFR futures. Average daily volumes in SOFR futures have grown 171% versus 2020, and we are pleased to see new milestones this week with records in both volume traded and open interest.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.