• Record annual ADV in interest rate, energy, agricultural, metals and cryptocurrency products
• Record annual ADV in U.S. Treasury and SOFR complexes
• Record annual ADV reached outside the U.S.
• Record Q4 and December ADV

CME Group, the world’s leading derivatives marketplace, reported its full-year, Q4 and December 2025 market statistics, with record average daily volume (ADV) of 28.1 million contracts during the year, an increase of 6% over 2024. Q4 ADV reached a record 27.4 million contracts and December ADV reached a record 23.5 million contracts. Market statistics are available in greater detail at https://cmegroupinc.gcs-web.com/monthly-volume.

Full-year 2025 highlights across asset classes include:

• Interest Rate ADV increased 4% to a record 14.2 million contracts
  • Record annual U.S. Treasury futures and options ADV of 8.3 million contracts
  • Record annual SOFR futures and options ADV of 5.4 million contracts
  • Record annual 5-Year U.S. Treasury Note futures ADV of 1.8 million contracts
  • Record annual 2-Year U.S. Treasury Note futures ADV of 1 million contracts
  • Record annual 10-Year U.S. Treasury Note options ADV of 971,000 contracts
  • Record annual 30-Day Fed Funds futures ADV of 495,000 contracts
• Equity Index ADV increased 8% to 7.4 million contracts
  • Record annual Micro E-mini Nasdaq-100 futures ADV of 1.6 million contracts
  • Micro E-mini S&P 500 futures ADV increased 35% to 1.2 million contracts
• Energy ADV increased 8% to a record 2.7 million contracts
  • Record annual Henry Hub Natural Gas futures and options ADV of 904,000 contracts
  • Record annual NY Heating Oil futures ADV of 197,000 contracts
• Agricultural ADV increased 8% to a record 1.9 million contracts
  • Record annual Corn futures ADV of 437,000 contracts
  • Record annual Soybean futures ADV of 293,000 contracts
  • Record annual Soybean Oil futures ADV of 182,000 contracts
• Metals ADV increased 34% to a record 988,000 contracts
  • Record annual Micro Gold futures ADV of 325,000 contracts
  • Record annual Gold options ADV of 96,000 contracts
  • Record annual Micro Silver futures ADV of 48,000 contracts
• Foreign Exchange ADV of 980,000 contracts
  • Foreign Exchange options ADV increased 19% to 53,000 contracts
• Cryptocurrency ADV increased 139% to a record 278,000 contracts ($12 billion notional)
  • Record annual Micro Ether futures ADV of 144,000 contracts
  • Record annual Micro Bitcoin futures ADV of 75,000 contracts
  • Record Ether futures ADV of 19,000 contracts
• International ADV increased 8% to a record 8.4 million contracts, with record EMEA ADV of 6.1 million contracts, record APAC ADV of 1.9 million contracts and Latin America ADV of 172,000 contracts

Q4 2025 highlights across asset classes include:

• Interest Rate ADV of 13 million contracts
  • Record Q4 U.S. Treasury options ADV of 1.4 million contracts
  • SOFR options ADV increased 4% to 1.4 million contracts
  • 30-Day Fed Funds futures ADV increased 39% to 576,000 contracts
• Equity Index ADV increased 22% to 7.7 million contracts
  • Micro E-mini Nasdaq 100 futures ADV increased 41% to 1.8 million contracts
  • Micro E-mini S&P 500 futures ADV increased 49% to 1.3 million contracts
  • E-Mini Russell 2000 futures ADV increased 20% to 218,000 contracts
• Energy ADV of 2.5 million contracts
  • Henry Hub Natural Gas futures ADV increased 4% to 655,000 contracts
  • Henry Hub Natural Gas options ADV increased 22% to 323,000 contracts
  • NY Heating Oil futures ADV increased 10% to 187,000 contracts
• Agricultural ADV increased 2% to 1.8 million contracts
  • Soybean futures ADV increased 2% to 322,000 contracts
  • Soybean options ADV increased 8% to 106,000 contracts
• Record Q4 Metals ADV of 1.4 million contracts
  • Record Q4 Micro Gold futures ADV of 594,000 contracts
  • Record Q4 Micro Silver futures ADV of 126,000 contracts
  • Record Q4 Gold options ADV of 109,000 contracts
• Record quarterly Cryptocurrency ADV of 379,000 contracts ($13.3 billion notional)
  • Record quarterly Micro Bitcoin futures ADV of 89,000 contracts
  • Micro Ether futures ADV increased 164% to 201,000 contracts
  • Ether futures ADV increased 137% to 22,000 contracts

December 2025 highlights across asset classes include:

• Interest Rate ADV increased 5% to 10.6 million contracts
  • Record December U.S. Treasury options ADV of 1.3 million contracts
  • SOFR futures and options ADV increased 4% to 4.5 million contracts
  • 30-Day Fed Funds futures ADV increased 14% to 495,000 contracts
• Equity Index ADV increased 2% to 6.9 million contracts
  • Micro E-mini Nasdaq 100 futures ADV increased 18% to 1.5 million contracts
  • Micro E-mini S&P 500 futures ADV increased 33% to 1.1 million contracts
• Energy ADV of 2.3 million contracts
  • Henry Hub Natural Gas futures ADV increased 9% to 708,000 contracts
  • Henry Hub Natural Gas options ADV increased 16% to 326,000 contracts
• Record December Metals ADV of 1.3 million contracts
  • Record monthly Micro Silver futures ADV of 200,000 contracts
  • Micro Gold futures ADV increased 312% to 449,000 contracts
  • Silver futures ADV increased 364% to 344,000 contracts
• Record December Cryptocurrency ADV of 339,000 contracts ($9.4 billion notional)
  • Micro Ether futures ADV increased 32% to 154,000 contracts
  • Ether futures ADV increased 45% to 18,000 contracts
• Micro Products ADV
  • Micro E-mini Equity Index futures and options ADV of 2.8 million contracts represented 40.5% of overall Equity Index ADV and Micro WTI Crude Oil futures accounted for 1.8% of overall Energy ADV
• BrokerTec U.S. Repo average daily notional value (ADNV) increased 14% to $386 billion and European Repo ADNV increased 11% to €305 billion
• Customer average collateral balances to meet performance bond requirements for rolling 3-months ending November 2025 were $135 billion for cash collateral and $163 billion for non-cash collateral

Paul Houston, Global Head of FX, CME Group, said in an email:

• FX F&O 2025 OI was a record year, with 2025 FY ADOI of 3.2m contracts ($318B), +7% vs. current record 2024 ADOI.
• FX futures 2025 OI was a record year, with 2025 FY ADOI of 2.4M contracts ($228B), +5% vs. current record 2024 ADOI.
• Q4 2025 was a record quarter for FX futures average daily open interest (~2.6M contracts; ~$250B).
• All-time record in gross positioning from asset managers in EUR/USD futures of over $100B in Q3, according to CFTC Commitment of Traders data. CME Group is home to 98.7% of EUR FX futures volumes globally.
• EUR Futures 2025 FY ADOI of 780k contracts ($111B) was an all-time annual record. Single-day OI record of 1M contracts ($147B) on 16 September.
• JPY Futures 2025 FY ADOI of 329k contracts ($28B) was an all-time annual record. Single-day OI record of 472k contracts (~$37B) on 9 December.
• CME Group’s FX Spot+ launched in April 2025, with volumes exceeding $6B across multiple days and single-day record volume of $8.2B in December. Over 50 firms have actively traded on the new market, 35 of which were banks who had previously not interacted with the FX futures market.

Source: CME