CHICAGO, April 2, 2007– CME, the world’s largest and most diverse derivatives exchange, today announced March volume averaged a record 7.7 million contracts per day, up 45 percent from March 2006. Total monthly volume was 170 million contracts. Volume on the CME Globex electronic trading platform increased 59 percent from March 2006 to average a record 5.8 million contracts per day, representing 76 percent of total exchange volume. Total options volume was 1.5 million contracts per day, up 31 percent from March 2006. Electronic options volume averaged a record 174,000 contracts per day for the month, up 106 percent from the same period a year ago, and represented 11 percent of total CME options volume.
“CME continued to deliver outstanding results in every product line, setting monthly and quarterly volume records well above prior levels,” said CME Executive Chairman Terry Duffy. “CME is the undisputed leader in trading the most diverse product offering with unsurpassed technology and an industry-leading clearing platform. We have clearly demonstrated the ability to meet our clients’ trading needs while maintaining reliability. During the quarter, we also processed record volumes for both the Chicago Board of Trade and the New York Mercantile Exchange. In fact, the energy volume we traded on CME Globex on behalf of NYMEX - 584,000 contracts per day - is the highest quarterly electronic energy total ever traded by any exchange.”
“In addition to our vibrant core business, we continue to execute on our newer growth initiatives,” said CME Chief Executive Officer Craig Donohue. “In March, we launched FXMarketSpace in partnership with Reuters. This joint venture allows CME to bring efficiencies to users in the $2 trillion per day over-the-counter foreign exchange market. So far, we are running ahead of our own expectations in terms of customer who have signed up and connected to the system. During the quarter, we also rolled out user defined spread functionality for trading Eurodollar options on CME Globex, and we announced the upcoming launch of credit derivatives products.”
All statistics in this news release exclude data on CME’s non-traditional TRAKRS® products, and CME Auction Markets™products, unless otherwise noted. All references to options refer to options on futures contracts.
CME total interest rate product volume averaged a record 4.2 million contracts, up 34 percent from the same period a year ago. CME Eurodollar futures volume averaged a record 2.9 million contracts per day, up 39 percent from March 2006, and CME Eurodollar options volume was up 23 percent to an average of 1.3 million contracts per day. Electronic volume of CME Eurodollar options averaged 98,000 contracts per day, up 70 percent from March 2006, and represented 8 percent of total Eurodollar options volume.
CME E-mini index product volume averaged a record 2.5 million contracts per day in March, up 70 percent compared with March 2006. Total equity options volume grew 148 percent from the same period a year ago to average a record 192,000 contracts per day. CME equity standard volume grew 52 percent to average a record 288,000 contracts per day. CME equity standard options volume also reached a record, increasing 137 percent from March 2006 to average 123,000 contracts per day.
CME foreign exchange volume in March averaged a record 655,000 contracts per day, up 42 percent compared with the year-ago period. Electronic foreign exchange volume averaged a record 590,000 contracts per day, up 56 percent compared with March 2006. March foreign exchange futures and options volume represented a notional value of $80 billion, an all-time monthly record.
CME commodities and alternative investment products volume averaged a record 101,000 contracts per day in March, up 19 percent compared with the same period a year ago. In addition, the commodities volume on the CME Globex platform was a record 5,100 contracts per day, representing 5 percent of the total commodities and alternative investments volume.
During March, CME Clearing handled CBOT volumes approaching 4.0 million contracts per day, up 30 percent from the year-ago period. NYMEX energy and metals volume on the CME Globex platform averaged 668,000 contracts per day.
First-Quarter Highlights
During the first quarter, CME volume averaged a record 6.5 million contracts per day, up 30 percent from the same period a year ago. Total volume exceeded 400 million contracts. Average daily volume on the CME Globex electronic trading platform increased 40 percent to a record 4.8 million contracts per day from the same period a year ago, representing 75 percent of total exchange volume. In the first quarter, total options volume averaged 1.3 million contracts per day, up 20 percent compared with first-quarter 2006. Electronic options volume averaged a record 165,000 contracts per day for the quarter, more than doubling from the same period a year ago.
CME total interest rate volume was a record 3.6 million contracts per day during the quarter, up 25 percent from the same period a year ago. CME Eurodollar futures grew 30 percent to average a record 2.5 million contracts per day. Electronic CME Eurodollar futures averaged a record 2.2 million contracts per day during the first-quarter, up 38 percent from the same period a year ago. CME Eurodollar options grew 14 percent to 1.2 million contracts per day. CME Eurodollar options volume traded electronically averaged 93,000 contracts, up 70 percent from first-quarter 2006, and represented 8 percent of total CME Eurodollar options volume.
CME E-mini equity index volume averaged a record 2.0 million contracts per day during the quarter, up 40 percent compared with first-quarter 2006. CME E-mini options volume averaged a record 66,000 contracts per day, more than doubling from first quarter 2006. CME equity standard volume grew 31 percent to average a record 190,000 contracts per day. CME equity standard options volume averaged a record 90,000 contracts per day, up 76 percent from first-quarter 2006.
CME foreign exchange volume averaged a record 555,000 contracts per day, up 36 percent compared with first-quarter 2006. During the quarter, electronic foreign exchange volume averaged a record 501,000 contracts per day, up 46 percent from the same period last year.
CME commodities and alternative
investments volume averaged a record 93,000 contracts per day for the quarter, up 15
percent from the same period a year ago.
During the quarter, CME Clearing handled
record CBOT volumes approaching 3.9 million contracts per day, up 24 percent from the same
period a year ago. NYMEX energy and metals volume on CME Globex averaged a record
675,000 contracts per day during the first quarter.
Open interest for all CME products was 43 million contracts at the end of the quarter, up from 35 million contracts at the end of December. Additionally, the Chicago Board of Trade had 17 million open positions with CME Clearing at the end of the month. Open interest represents the number of contract positions that remain open at the end of a trading session.
CME QUARTERLY AVERAGE DAILY VOLUME (In Thousands)
|
Q1 2007 |
Q1 2006 |
Percent Change |
CME PRODUCT LINE |
|
|
|
Interest Rates |
3,639 |
2,919 |
25% |
E-Minis |
1,977 |
1,408 |
40% |
Equity Standard |
190 |
145 |
31% |
Foreign Exchange |
555 |
407 |
36% |
Commodities |
93 |
80 |
15% |
Sub Total |
6,454 |
4,958 |
30% |
TRAKRS |
143 |
160 |
-11% |
Total |
6,597 |
5,119 |
29% |
|
|
|
|
VENUE |
|
|
|
Open Outcry |
1,578 |
1,467 |
8% |
CME Globex (Ex TRAKRS) |
4,815 |
3,435 |
40% |
Privately Negotiated |
61 |
57 |
7% |
CME MONTHLY AVERAGE DAILY VOLUME (In Thousands)
|
March 2007 |
March 2006 |
Percent Change |
CME PRODUCT LINE |
|
|
|
Interest Rates |
4,191 |
3,137 |
34% |
E-Minis |
2,475 |
1,454 |
70% |
Equity Standard |
288 |
190 |
52% |
Foreign Exchange |
655 |
460 |
42% |
Commodities and Alt. Inv. |
101 |
85 |
19% |
Sub Total |
7,710 |
5,326 |
45% |
TRAKRS |
162 |
104 |
56% |
Total |
7,873 |
5,430 |
45% |
|
|
|
|
VENUE |
|
|
|
Open Outcry |
1,811 |
1,584 |
14% |
CME Globex (Ex TRAKRS) |
5,829 |
3,674 |
59% |
Privately Negotiated |
70 |
68 |
3% |
Note: CME Weather and GSCI products moved from Equity Standard to Commodities in April, and prior months were adjusted.
CME ROLLING THREE-MONTH AVERAGES (excluding TRAKRS)
Average Rate Per Contract (In Dollars)
3-Month Period Ending |
By Product Line |
Total |
By Venue |
||||||
Interest Rates |
E-Minis |
Equity Standard |
Foreign Exchange |
Commodities and Alt. Inv. |
Open Outcry |
CME Globex |
Privately Negotiated |
||
Feb-07 |
0.509 |
0.712 |
1.419 |
1.107 |
0.953 |
0.657 |
0.506 |
0.666 |
3.645 |
Jan-07 |
0.508 |
0.717 |
1.434 |
1.072 |
0.931 |
0.658 |
0.508 |
0.667 |
3.649 |
Dec-06 |
0.508 |
0.707 |
1.430 |
1.085 |
0.942 |
0.655 |
0.512 |
0.660 |
3.713 |
Nov-06 |
0.502 |
0.703 |
1.357 |
1.112 |
0.918 |
0.645 |
0.494 |
0.657 |
3.719 |
Average Daily Volume (In Thousands)
3-Month Period Ending |
By Product Line |
Total |
By Venue |
||||||
Interest Rates |
E-Minis |
Equity Standard |
Foreign Exchange |
Commodities and Alt. Inv. |
Open Outcry |
CME Globex |
Privately Negotiated |
||
Mar-07 |
3,639 |
1,977 |
190 |
555 |
93 |
6,454 |
1,578 |
4,815 |
61 |
Feb-07 |
3,220 |
1,649 |
155 |
551 |
78 |
5,643 |
1,416 |
4,168 |
58 |
Jan-07 |
3,016 |
1,610 |
147 |
540 |
80 |
5,392 |
1,337 |
4,000 |
55 |
Dec-06 |
2,990 |
1,596 |
147 |
508 |
72 |
5,313 |
1,293 |
3,967 |
53 |
CME (www.cme.com) is the world’s largest and most diverse financial exchange. As an international marketplace, CME brings together buyers and sellers on the CME Globex® electronic trading platform and on its trading floors. CME offers futures and options on futures in these product areas: interest rates, stock indexes, foreign exchange, agricultural commodities, energy, and alternative investment products such as weather, real estate and economic derivatives. CME is a wholly-owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE, NASDAQ: CME), which is part of the Russell 1000® Index and the S&P 500® 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 Annual Report on Form 10-K, which can be obtained at its Web site at www.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, CME Globex and E-mini are trademarks of Chicago Mercantile Exchange Inc. 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.
