CME Group, the world’s leading and most diverse derivatives marketplace, today announced that Secured Overnight Financing Rate (SOFR) futures reached a daily volume record of 265,511 contracts on February 25, surpassing the previous record of 240,288 contracts on November 19, 2020. SOFR futures open interest also set a new record of 757,943 contracts yesterday, exceeding the prior record of 751,594 contracts on February 24.

? New records in CME Group STIR and Treasury markets:

⚫️ #SOFR futures volume: 266K contracts
⚫️ SOFR futures open interest: 758K contracts
⚫️ #Eurodollar 3-Year Mid-Curve options volume: 1.4M contracts
⚫️ U.S. Treasury options volume: 2.9M contracts
https://t.co/XDGXuK31GI

— CME Group (@CMEGroup) February 26, 2021

“We are pleased with the growth of our increasingly robust SOFR futures market, as well as the continued development of the overall SOFR ecosystem at CME Group,” said Agha Mirza, Global Head of Interest Rate and OTC Products, CME Group. “This SOFR milestone coincides with strong participation in our Eurodollar futures and options, which traded 14 million contracts yesterday, the highest volume since the Fed’s emergency rate cuts in March 2020. Going forward, we remain focused on providing our clients with the broadest array of cost-efficient, short-term interest rate products they need to manage their risk.”

Additionally, Eurodollar 3-Year Mid-Curve options reached a new daily volume record of 1.4 million contracts on February 25, surpassing the previous record of 994,059 contracts on February 16. U.S. Treasury options traded a record 2.9 million contracts on February 25, exceeding the prior high of 2.8 million contracts on March 5, 2020.

Source: CME Group