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January 10, 2024 - CME Group today reported that its 2023 average daily volume (ADV) for international markets has set a new record, reaching 6.8 million contracts, marking an 8% increase from the previous year. The growth was primarily propelled by Equity Index and Interest Rate products, which saw increases of 26% and 23% respectively.
Derek Sammann, CME Group Senior Managing Director and Global Head of Commodities, Options & International Markets, commented on the results, "Market participants across the globe turned to CME Group benchmark futures and options contracts given the heightened need for risk management across every asset class last year. As uncertain market conditions continue into 2024, we remain committed to working closely with our clients outside of the U.S. to access our robust, regulated marketplace with round-the-clock liquidity."
Regionally, the Europe, Middle East, and Africa (EMEA) area recorded an ADV peak of 4.9 million contracts, a 13% increase from 2022, with Interest Rate products growing by 29% and Agricultural products by 26%.
In Latin America, the ADV escalated to a new high of 176,000 contracts, which is an 11% increase from 2022. This growth was led by a 28% rise in Foreign Exchange products, 27% in Interest Rate products, and 24% in Metals products.
The Asia Pacific market experienced a notable performance with an ADV of 1.6 million contracts. Interest Rate products in this region alone climbed by 5% year-on-year, culminating in a record 689,000 contracts in 2023.
Canada's market posted an ADV of 153,000 contracts, with notable increases in the Energy and Agricultural Products sectors, which saw rises of 22% and 7% respectively.
On a global scale, CME Group's 2023 ADV reached a record 24.4 million contracts, demonstrating a 5% growth over the previous year. This surge was largely driven by a 16% increase in Interest Rate ADV, recording a historic 12.5 million contracts, and a 23% increase in Options ADV, reaching an unprecedented 5.1 million contracts.
