CME Reports Record January Trading as ADV Increases 2% Year-on-Year
Liquidity Finder - Sam LowCME Group has reported record January trading volumes across multiple asset classes, with average daily volume (ADV) reaching 25.7 million contracts, marking a 2% increase from the previous year and setting new records in energy, agricultural, and cryptocurrency products.
The derivatives marketplace saw particularly strong performance in its interest rate products, with U.S. Treasury futures and options reaching a January record of 6.7 million contracts per day. Ten-year Treasury note options trading surged 54% to 1 million contracts daily, while Treasury Bond options increased 47%.
Energy trading showed remarkable growth, with overall ADV rising 29% and setting an all-time record in options trading at 606,000 contracts. Henry Hub Natural Gas options achieved a historic high, while WTI Crude Oil futures trading increased 34% to 1.3 million contracts daily.
Agricultural trading demonstrated significant momentum, with January ADV up 35% and options trading reaching record levels at 469,000 contracts. Corn futures showed particularly strong growth, rising 60% to 505,000 contracts daily, while soybean futures increased 31%.
The cryptocurrency segment exhibited the most dramatic growth, with ADV soaring 180% compared to January 2024. Micro Bitcoin futures led this surge with a 255% increase to 84,000 contracts daily, while Micro Ether futures grew 223%.
International trading activity also showed robust growth, with overall ADV increasing 11% to 7.8 million contracts. EMEA trading rose 12% to 5.7 million contracts, while Asia ADV grew 8% to 1.8 million contracts.
Fixed income trading through BrokerTec saw U.S. Repo average daily notional value increase 10% to $318.4 billion, while European Repo activity grew 13% to €310.3 billion. In foreign exchange, EBS Spot trading volume rose 21% to $66.5 billion daily.
The exchange maintained substantial customer collateral balances, with cash collateral averaging $75 billion and non-cash collateral at $177.7 billion for the three months ending December 2024.
Key Month-on-Month Changes (December 2024 to January 2025)
- Total ADV increased 15.2% from 22.3 million to 25.7 million contracts
- Interest Rate ADV rose 15.8% from 10.1 million to 11.7 million contracts
- Energy ADV jumped 39.1% from 2.3 million to 3.2 million contracts
- Cryptocurrency ADV declined from 245,000 to 198,000 contracts
- EBS Spot FX ADV increased 19.2% from $55.8 billion to $66.5 billion
- Micro Bitcoin futures decreased slightly from 87,000 to 84,000 contracts
Year-on-Year Performance (January 2024 to January 2025)
- Energy trading ADV: up 29%
- Agricultural ADV: up 35% to 2 million contracts
- Cryptocurrency ADV: up 180%
- Interest Rate products:
- 10-Year Treasury Note options up 54% to 1 million contracts
- Treasury Bond options up 47% to 207,000 contracts
- WTI Crude Oil futures: up 34% to 1.3 million contracts
- Corn futures: up 60% to 505,000 contracts
- Micro Bitcoin futures: up 255% to 84,000 contracts
- EBS Spot FX ADV: up 21% to $66.5 billion
You can view historical FX Spot ADV on EBS, compared to other venues, here.
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