Despite the period of summer slowdown that historically takes place in the markets during the month of August, volume in each of CME’s benchmark products, including its Eurodollar, E-mini™ equity index and foreign exchange products grew, increasing 30 percent, 24 percent and 50 percent respectively above August 2003.
Eurodollar futures and options averaged 1.66 million contracts per day. Eurodollar futures on GLOBEX averaged 716,000 contracts per day, up 3% percent from last month. In January, CME traded just over 3,000 Eurodollar options on GLOBEX per day, representing about 1 percent of total Eurodollar options volume. In August, average daily volume of CME’s Eurodollar options on GLOBEX has grown to approximately 20,000 per day, representing about 4 percent of total Eurodollar options volume, following the release of new functionality at the end of July. Average daily volume in CME’s foreign exchange products was 169,000 contracts per day. Trading in CME’s E-mini equity index products averaged more than 950,000 contracts per day. With an average daily volume of 35,000 contracts, CME’s agricultural products were up 13 percent from last August.
Open interest for all CME products at month end was approximately 38 million contracts, including 13 million Total Return Asset ContractsSM (TRAKRS). Additionally, Chicago Board of Trade (CBOT) had almost 10.5 million open contract positions at the CME Clearing House at the end of August. 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 August was 2.4 million contracts per day.
Below is a summary of average daily volume for CME in August:
CME AVERAGE DAILY VOLUME (In Thousands)
|
|
August 2004 |
August 2003 |
Percentage Change |
|
PRODUCT GROUP |
|
|
|
|
Interest Rates |
1,679 |
1,289 |
+30% |
|
E-Mini’s |
951 |
764 |
+24% |
|
Equity Standard |
88 |
86 |
+3% |
|
Foreign Exchange |
169 |
113 |
+50% |
|
Commodities |
35 |
31 |
+13% |
|
Sub Total |
2,923 |
2,283 |
+28% |
|
TRAKRS |
24 |
50 |
-52% |
|
Total |
2,947 |
2,333 |
+26% |
|
|
|
|
|
|
VENUE |
|
|
|
|
Open Outcry |
1,057 |
1,368 |
-23% |
|
GLOBEX (Ex TRAKRS) |
1,816 |
878 |
+107% |
|
Privately Negotiated |
50 |
37 |
+35% |
Chicago Mercantile Exchange Inc. (www.cme.com) is the largest futures exchange in theUnited States. As an international marketplace, CME brings together buyers and sellers on its trading floors and GLOBEX® electronic trading platform. CME offers futures and options on futures primarily in four product areas: interest rates, stock indexes, foreign exchange and commodities. The exchange moved about $1.6 billion per day in settlement payments in the first half of 2004 and managed $39.1 billion in collateral deposits as of June 30, 2004. CME is a wholly owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE: CME), which is part of the Russell 1000® Index.
Statements in this news release that are not historical facts are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, including our most recent Quarterly Report on Form 10-Q, which can be obtained at its Web site atwww.sec.gov. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Chicago Mercantile Exchange, CME, the globe logo and GLOBEX are registered trademarks of Chicago Mercantile Exchange Inc. E-mini is a trademark of CME. CLEARING 21 is a registered trademark of CME and New York Mercantile Exchange, Inc. S&P, S&P 500, NASDAQ-100, Nikkei 225, Russell 1000, Russell 2000, TRAKRS, Total Return Asset Contracts and other trade names, service marks, trademarks and registered trademarks that are not proprietary to Chicago Mercantile Exchange Inc. are the property of their respective owners, and are used herein under license.
