04.02.2014
By Terry Flanagan

CME Group Volume Averaged 14.1 Million Contracts per Day in March 2014, Up 13 Percent from March 2013

– Interest rate volume rose 35 percent
– Eurodollar futures volume increased 47 percent and Eurodollar options volume increased 132 percent
– Agricultural commodities volume rose 12 percent
– First-quarter 2014 volume averaged 13.7 million contracts per day, up 9 percent from first-quarter 2013

CHICAGO, April 2, 2014 /PRNewswire/ — CME Group, the world’s leading and most diverse derivatives marketplace, today announced that March 2014 volume averaged 14.1 million contracts per day, up 13 percent compared with March 2013.  Total volume for March 2014 was more than 295 million contracts, of which 86 percent was traded electronically.

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CME Group interest rate volume averaged 7.0 million contracts per day in March, up 35 percent from March 2013.  Eurodollar futures volume averaged 2.8 million contracts per day, up 47 percent from the same period a year ago.  Eurodollar options volume averaged 916,000 contracts per day, up 132 percent from March last year.  Treasury futures volume averaged 2.7 million contracts per day, up 10 percent compared with March 2013.  Treasury options volume averaged 604,000 contracts per day, up 33 percent from the same period last year.

CME Group equity index volume in March 2014 averaged 3.2 million contracts per day, up 5 percent from the same period last year.  CME Group foreign exchange (FX) volume averaged 855,000 contracts per day, down 20 percent from March 2013.  The average daily notional value of FX contracts traded in March was $104 billion.

CME Group agricultural commodities volume averaged 1.1 million contracts per day, up 12 percent compared with the prior-year period, and included a monthly volume record for the Lean Hog contract.  CME Group metals volume in March 2014 averaged 382,000 contracts per day, up 4 percent from March 2013.  CME Group energy volume averaged 1.5 million contracts per day in March 2014, down 18 percent compared with the prior March.

In March 2014, CME Group cleared a record $132 billion average daily notional value of OTC interest rate swaps.  During the month, OTC interest rate swap open interest increased 9 percent from the end of February to $12.9 trillion, which represents 53 percent of clients’ total cleared OTC interest rate swap open interest.

First-quarter 2014 volume averaged 13.7 million contracts per day, up 9 percent from first-quarter 2013.  The main highlights included quarterly records for Lean Hogs, Ultra Treasury Bonds, Eurodollar Midcurve options and Eurodollar futures associated with the third consecutive four quarterly contracts across the curve, as well as 19 percent growth in interest rates volume compared with first-quarter 2013, and 11 percent growth in equities volume.

Guidance

CME Group receives dividends from BM&F BOVESPA (BVMF) associated with our 5 percent ownership stake.  BVMF declared a regular cash dividend on February 13, 2014, with a second-quarter ex-dividend date.  As a result, similar to last year, CME Group will record no BVMF dividend in first-quarter 2014 and will record two dividends in the second quarter.  The first of these dividends will total between $3 and $3.5 million, which compares with the first dividend declared by BVMF in 2013, while the details related to the second dividend have yet to be announced.

MONTHLY AVERAGE DAILY VOLUME (ADV)
Total Exchange ADV

(in thousands)

Mar 2014 Mar 2013
Trading Days 21 20
PRODUCT LINE Mar 2014 Mar 2013 Percent Change
Interest Rates 7,036 5,225 35%
Equity Indexes 3,226 3,059 5%
Foreign Exchange (FX) 855 1,072 -20%
Energy 1,452 1,764 -18%
Agricultural Commodities 1,111 989 12%
Metals 382 368 4%
     Total 14,062 12,478 13%
VENUE Mar 2014 Mar 2013 Percent Change
Open outcry 1,194 834 43%
CME Globex 12,116 10,909 11%
Privately negotiated* 752 715 5%

 

QUARTERLY AVERAGE DAILY VOLUME (ADV)
Total Exchange ADV
(in thousands)
1Q 2014 1Q 2013
Trading Days 61 60
PRODUCT LINE 1Q 2014 1Q 2013 Percent Change
Interest Rates 6,725 5,656 19%
Equity Indexes 2,890 2,608 11%
Foreign Exchange (FX) 817 1,010 -19%
Energy 1,705 1,730 -1%
Agricultural Commodities 1,168 1,108 5%
Metals 355 396 -11%
Total 13,659 12,509 9%

VENUE
        1Q 2014        1Q 2013     Percent Change
Open outcry 1,179 885 33%
CME Globex 11,703 10,908 7%
Privately negotiated* 778 691 13%

Note that the KCBT hard red winter wheat average daily volume is included within the CME Group venue rollup as of April 1, 2013, but not historically prior to that date, following the acquisition which closed on November 30, 2012.

ROLLING THREE-MONTH AVERAGES
Average Daily Volume (In thousands)
3-Month Period Ending
PRODUCT LINE Mar-14 Feb-14 Jan-14 Dec-13
Interest Rates 6,725 6,027 5,773 5,274
Equity Indexes 2,890 2,636 2,440 2,471
Foreign Exchange (FX) 817 784 767 705
Energy 1,705 1,737 1,644 1,571
Agricultural Commodities 1,168 1,058 1,011 992
Metals 355 318 328 317
     Total 13,659 12,561 11,964 11,331

VENUE
Mar-14 Feb-14 Jan-14 Dec-13
Open outcry 1,178 1,090 1,007 957
Electronic 11,703 10,714 10,238 9,723
Privately negotiated* 778 757 719 651

*The privately negotiated venue includes both traditional block trades as well as what was historically categorized as CME ClearPort.  Going forward there will no longer be a break out for CME ClearPort.

Average Rate Per Contract (In dollars)
3-Month Period Ending
PRODUCT LINE Feb-14 Jan-14 Dec-13 Nov-13
Interest Rates 0.492 0.499 0.504 0.499
Equity Indexes 0.720 0.719 0.702 0.689
Foreign Exchange (FX) 0.806 0.823 0.835 0.833
Energy 1.325 1.303 1.279 1.301
Agricultural Commodities 1.360 1.354 1.327 1.309
Metals 1.701 1.698 1.682 1.660
     Total 0.778 0.780 0.780 0.767

As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk.  CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate.  CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago.  CME Group also operates CME Clearing, one of the world’s leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.

CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc.  CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc.  KCBOT, KCBT and Kansas City Board of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc.  All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.

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SOURCE CME Group

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