CME Group announced on Monday that its international average daily volume (ADV) reached an unprecedented 8.4 million contracts in the third quarter of 2024, marking a remarkable 29% increase compared to the same period last year.
The surge in international trading volume was attributed to robust growth across all asset classes, particularly in interest rate and equity products, which played a significant role in driving this record increase. Interest rate products alone experienced a historic 32% growth in quarterly volumes, primarily fueled by the rising popularity of SOFR futures, which soared by 38%, alongside U.S. Treasury contracts that increased by 25%.
Additionally, CME Group reported significant growth in energy products, which rose by 30%, while equities products experienced a 25% uptick. Furthermore, foreign exchange (FX) volumes reached a record high, increasing by 14% during the quarter.
“Our record Q3 international ADV was driven by substantial increases in volume across all asset classes in the EMEA and APAC regions,” stated Julie Winkler, Senior Managing Director and Chief Commercial Officer at CME Group. “This demonstrates how our clients are leveraging the breadth of our products to navigate unpredictability and volatility in the markets.”
The EMEA region exhibited the most substantial growth, with ADV reaching a record 6.2 million contracts, representing a 30% increase year-over-year. Meanwhile, the Asia Pacific region recorded an ADV of 1.8 million contracts, reflecting a 28% rise compared to the previous year.
In total, CME Group reported a global record ADV of 28.3 million contracts for Q3 2024, up 27% from the same period in 2023. Notably, the company’s highly liquid U.S. Treasury complex and SOFR futures also achieved all-time quarterly ADV records, underscoring the robust demand for these financial products.
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