At the same time, trading activity on CME’s GLOBEX® electronic trading platform grew 79 percent in July compared to the same month a year ago. As a percentage of CME’s total business, 61 percent of CME volume was transacted on GLOBEX, up from 54 percent in June and 44 percent in July 2003.
July represented the fifth consecutive month in which average daily trading volume exceeded three million contracts per day, a benchmark CME first achieved in March.
The most rapidly growing product area was interest rates, primarily Eurodollar futures and options on futures contracts, which averaged approximately 1.8 million contracts per day – an increase of 45 percent from year-ago levels. E-mini equity index products also continued to post strong volumes, averaging above 1.1 million contracts a day, a 13 percent increase over year ago levels.
Foreign exchange products were also up 38 percent from year ago levels to an average of 175,000 contracts per day, the second highest non-roll month so far this year. Agricultural commodities were up 6 percent, averaging 42,000 contracts per day.
Open interest for all CME products at month end was 37 million contracts, including 13 million Total Return Asset ContractsSM (TRAKRS). Additionally, Chicago Board of Trade (CBOT) had almost 12 million open contract positions at the CME Clearing House at the end of July. Open interest represents the number of contract positions which are not closed out at the end of a trading session. CBOT’s average daily volume in July was 2.06 million contracts per day.
Below is a summary of average daily volume for CME in July:
CME AVERAGE DAILY VOLUME (In Thousands)
|
|
July 2004 |
July 2003 |
Percentage Change |
|
PRODUCT GROUP |
|
|
|
|
Interest Rates |
1,764 |
1,218 |
+45% |
|
E-Mini’s |
1,116 |
986 |
+13% |
|
Equity Standard |
85 |
96 |
-11% |
|
Foreign Exchange |
175 |
127 |
+38% |
|
Commodities |
42 |
40 |
v+6% |
|
Sub Total |
3,182 |
2,466 |
+29% |
|
TRAKRS |
41 |
243 |
-83% |
|
Total |
3,223 |
2,709 |
+19% |
|
|
|
|
|
|
VENUE |
|
|
|
|
Open Outcry |
1,194 |
1,339 |
-11% |
|
GLOBEX (Ex TRAKRS) |
1,945 |
1,086 |
+79% |
|
Privately Negotiated |
43 |
41 |
+5% |
