CME Group Reports Record International Trading Volume in Q3 2024

CME Group has announced record international average daily volume (ADV) of 8.4 million contracts in the third quarter of 2024, representing a 29% increase year-on-year. The figures, which reflect all trading reported outside the United States, show growth across all asset classes, with interest rate and equity products accounting for three-quarters of the volume increase.

Interest rate products experienced the most significant growth, with a 32% rise in quarterly volumes compared to the previous year. This was primarily driven by a 38% increase in SOFR futures and a 25% growth in Treasury contracts. Energy products saw a 30% uptick, while equities products rose by 25%. Foreign exchange volumes also reached a record, climbing 14% in the third quarter.

Julie Winkler, Senior Managing Director and Chief Commercial Officer at CME Group, attributed the record performance to market conditions, stating, "Our record Q3 international ADV was driven by significant increases in volume across all asset classes in EMEA and APAC, demonstrating how our clients turned to the breadth of our products to navigate unpredictability and volatility."

Regionally, Europe, Middle East and Africa (EMEA) saw the highest growth, with ADV hitting a record 6.2 million contracts, up 30% from Q3 2023. Energy, interest rate, and foreign exchange products all reached new ADV records in EMEA, growing 37%, 32%, and 18% respectively year-on-year.

Asia Pacific (APAC) ADV rose to 1.8 million contracts, a 28% increase from the same period last year. The region experienced strong performance in metals, up 49%, while interest rate and equity products ADV grew by 33% and 30% respectively.

Latin America and Canada also saw growth, with ADV increases of 12% and 21% respectively. Latin America showed particular strength in metals and energy products, while Canada's growth was driven by interest rate and energy products.

Globally, CME Group reported a record ADV of 28.3 million contracts in Q3 2024, a 27% increase over Q3 2023. This was largely attributed to record volume in interest rate products, which saw a 36% year-on-year increase to 14.9 million contracts daily. The U.S. Treasury complex and SOFR futures both hit all-time quarterly ADV records.