CME's Volume Sets New June Record - Many Equity index Products Set All-Time Monthly Volume Marks

Trading volume on the Chicago Mercantile Exchange (CME) last month set a new record for any June, with 20,340,792 contracts changing hands, an increase of nearly 14 percent over the previous month's levels. Total futures volume of 17,180,656 also was a June record. Setting new all-time volume records were several equity index products, including E-mini S&P 500 futures at 869,026, Nasdaq 100 Index futures at 232,823, Russell 2000 futures at 54,576 S&P/BARRA Value futures at 5,926 and S&P/BARRA Growth futures at 2,339. In addition, four currency products set all- time records: Australian dollar futures, at 109,772, South African rand futures at 4,962 and EuroFX options, at 19,890. Launched on June 21, E-mini Nasdaq 100 futures saw trading volume grow from 2,136 on opening day to more than double that figure, a record 4,625, just two days later. Average daily volume in E-mini Nasdaq 100 futures reached 3,465, while open interest grew steadily from 245 positions on opening day to 1,387 at month's end. Trading volume on the GLOBEX®2 electronic system rose 55.6 percent above year-ago levels to 1,279,134 in June. Year-to-date GLOBEX2 volume of 6,896,366 is more than 70 percent higher than 1998 levels. The Merc's new E-mini products trade on the GLOBEX2 system virtually around the clock; other Merc financial products trade overnight on the system. The record in E-mini S&P 500 futures volume was complemented by June record volume in E-mini S&P 500 options, at 4,184. Other products setting new June volume marks included: Lean hog futures at 237,270 and its options at 28,073; GSCI futures at 83,203; S&P MidCap 400 futures at 42,708; lumber futures at 30,410 and its options at 2,839; BFP milk futures at 3,711 and its options at 1,654. Open interest, the number of futures contracts and options outstanding at the end of trading, stood at 7,782,284 positions at month's end.