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May 16, 2023 - CME Group today announced that open interest (OI) in its U.S. Treasury futures reached a record 17,222,551 contracts on May 12, the fifth consecutive day of record OI. Prior to the record week, the previous OI record of 16,698,659 contracts was set on February 19, 2020.
"Market participants continue to turn to our deeply liquid U.S. Treasury futures in record numbers as they navigate historic uncertainty and manage fixed income risk," said Agha Mirza, CME Group Global Head of Rates and OTC Products. "With growing demand for risk transfer in the world's largest bond market, reaching a record 1,697 large OI holders earlier this year, we remain focused on providing capital and operational efficiencies across our global client base."
CME Group provides the market's leading electronic, central limit order book for every tenor of U.S. Treasury futures, which trade side-by-side on the CME Globex platform with BrokerTec cash securities. In addition, clients benefit from the flexibility of privately negotiated transactions in the form of blocks, exchange for risk (EFR) and exchange of futures for physical (EFP) agreements under the rules of CBOT. Clients using these tools to manage risk include sovereigns, banks, asset managers, hedge funds, principal trading firms and other institutions.
Since U.S. Treasury futures began trading on CME Globex in January 2008, OI in these products has nearly tripled, growing from 6 million contracts to Friday's record 17.2 million contracts.
