October 2014 proved fruitful for CME, but FX volumes fall short of September’s high

North American multinational derivatives marketplace CME Group has today announced that October 2014 volume averaged a record 17.6 million contracts per day, up 58 percent from October 2013, and posted year-over-year growth in all six product lines.

Whilst the company’s results for October are far from mediocre, and a significant increment in revenues has been made compared to the first half of 2014, the results for the month of October represent a slight downturn from the record highs which were achieved by CME in September.

Although CME achieved a more than respectable 986,000 contracts in October, September this year proved to be a milestone month for CME, which, along with many other venues and FX firms, experienced a dramatic upturn in revenues following almost a year of low volatility. CME’s FX volume in September had doubled compared with August’s figure, averaging a relatively stratospheric 1.2 million contracts per day, a figure which has not been matched in October.


Indeed, exchange-traded FX is continuing to show robust results across many venues following the return of higher volatility to the global markets, as punctuated by Click365’s high volumes at Japan’s Tokyo Financial Exchange during October.

Total volume for October 2014 was more than 404 million contracts, of which 87 percent was traded electronically, and a record 15.4 million contracts traded on CME Globex during the month. CME Group open interest stands at approximately 104.9 million contracts at the end of the month, up 25 percent year-to-date.

CME Group interest rate volume averaged 9.2 million contracts per day in October 2014, up 89 percent compared with October 2013. Eurodollar futures volume averaged a record 3.8 million contracts per day, up 100 percent from the same period a year ago. Eurodollar options volume averaged 1.2 million contracts per day, up 88 percent from October last year. Treasury futures volume averaged 3.4 million contracts per day, up 88 percent compared with October 2013. Treasury options volume averaged 695,000 contracts per day, up 46 percent from the same period last year. Overall CME Group interest rate open interest has increased 45 percent year-to-date.

CME Group FX volume averaged 986,000 contracts per day, up 53 percent from October 2013. The average daily notional value of FX contracts traded in October was $114 billion. CME Group equity index volume in October 2014 averaged 4.0 million contracts per day, up 50 percent from the same period a year ago, and included monthly volume records for overall equity index options, as well as E-mini S&P 500 options.

CME Group agricultural commodities volume averaged 1.3 million contracts per day in October 2014, up 30 percent compared with the prior-year period. CME Group energy volume averaged 1.8 million contracts per day, up 9 percent from October 2013. CME Group metals volume averaged 330,000 contracts per day, up 9 percent compared with the prior October.

In October 2014, CME Group cleared a record $181 billion in average daily notional value of over-the-counter (OTC) interest rate swaps. During the month, OTC interest rate swap open interest increased 9 percent from the end of September to $21.9 trillion, which represents 60 percent of clients’ total cleared OTC interest rate swap open interest. Average daily trade count for the month was 1,843.

For the full announcement from CME, click here.

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October 2014 proved fruitful for CME, but FX volumes fall short of September's high


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