CME's EuroFX Contract Sets New Open Interest, Volume Record

The Chicago Mercantile Exchange's EuroFX currency futures contract set a new open interest record on Thursday. At the close of Thursday's trading session, a total of 87,291 positions were open, reflecting an increase of 5,814 open contracts compared to the prior day's open interest level. Open interest is the measure of how many contracts are outstanding - or open - at the end of a trading session. The record open interest level in EuroFX comes on the heels of what has been the most active week for the nearly one-year-old contract which is based on the euro currency introduced as the official currency of 11 European nations at the beginning of this year. On Monday, Dec. 3, EuroFX futures set a new volume record during Regular Trading Hours, when 44,116 contracts changed hands. Through Thursday, a total of 141,970 EuroFX contracts had already traded for the week, with estimated volume of approximately 25,000 on Friday. The activity was more than double the trading level for any other single week in the product's history. For the first time, the exchange value of the euro currency has brushed the parity level with the U.S. dollar before rebounding slightly. The CME's EuroFX contract is sized at 125,000 euros and trades virtually around the clock on the CME's trading floor and through its GLOBEX?2 electronic trading system