CME Group, the derivatives marketplace, announced that its quarterly international average daily volume (ADV) reached a record 7.4 million contracts in Q1 2024, up 2% year on year. Reflecting all trading reported from outside the United States, volume was driven “largely by 38% growth in energy products, a 29% increase in agricultural products, and 7% growth in metals.”
Derek Sammann, Senior Managing Director and Global Head of Commodities, Options and International Markets, CME Group said:
“Market conditions in the first quarter of the year continued to create a heightened need for risk management as clients worldwide worked to navigate sustained uncertainty and volatility. Our record Q1 international ADV was driven by significant increases in commodities volume across EMEA and Asia Pacific, demonstrating how our clients turn to these products to hedge price risk.”
In Q1 2024, ADV hit 5.4 million contracts, “up 6% from Q1 2023.”
This was driven by a strong performance in commodities the region, “with energy, agricultural and metals up 50%, 38% and 9% respectively, compared to the same period in 2023.”
Asia Pacific ADV stood “at 1.7 million contracts in Q1 2024. The region saw growth across its range of commodities as well, with agricultural products up 15% and energy products metals up 10% and 5% respectively.”
Latin America ADV stood “at 190,000 contracts in Q1 2024.”
The region saw “a 19% increase in foreign exchange products, 17% in metals and 12% in interest rate products.”
Canada ADV stood “at 168,000 contracts in Q1 2024.”
This was driven by “a strong performance in energy and agricultural products, up 50% and 22% year over year.”
As the world’s derivatives marketplace, CME Group says it “enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities.”
CME Group exchanges claim to offer “the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.”
The company offers futures and options on futures trading “through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.”
In addition, it operates one of “the central counterparty clearing providers, CME Clearing.”
