CME Group SOFR Futures And Options Reach Single-Day Trading, Open Interest Records

• Record 9,784,528 SOFR-based contracts traded on March 7, with record open interest of 54,666,191 contracts on March 8

CME Group, the world's leading derivatives marketplace, today announced new milestones in the growth of its SOFR derivatives contracts, with a single-day record of 9,784,528 SOFR futures and options traded on March 7 and record open interest (OI) of 54,666,191 contracts on March 8.

Individually, SOFR futures traded a record of 5,836,669 contracts on March 7, with record OI of 10,897,300 contracts the same day. SOFR options traded a record 4,533,369 contracts on March 8, with record OI of 43,781,996 contracts the same day.  

"With continued economic and interest rate policy uncertainties, SOFR futures and options are proving to be extremely valuable risk management and hedging tools," said  Agha Mirza, CME Group Global Head of Rates and OTC Products. "The market for SOFR futures and options is deeply liquid and fully developed, with a year-to-date average daily volume that exceeds the highest annual volume ever recorded for Eurodollar futures and options."

Month-to-date in March 2023, the average daily volume (ADV) of SOFR futures and options traded is 6,808,280 contracts, with SOFR futures ADV equivalent to 1,168% of Eurodollar futures ADV and SOFR options ADV equivalent to 1,800% of Eurodollar options ADV.

Globally, SOFR futures and options markets include broad participation from global banks, hedge funds, asset managers, principal trading firms and other types of traders.  

SOFR futures and options are listed with and subject to the rules of CME. For more information on SOFR futures and options, please visit www.cmegroup.com/sofr.