E-mini S&P 500 futures surpassed the key 100,000 mark for the first time, while the newer E-mini Nasdaq 100 contracts, launched less than one year ago, surpassed the 50,000 level.
The new volume record for E-mini S&P 500 futures reached 100,990 and surpassed the 99,227 record set Monday, May 22. The E-mini Nasdaq 100 futures volume record now stands at 52,595, beating the previous mark of 44,219 also set Monday by nearly 19 percent.
The E-mini Nasdaq 100 futures contract has posted four consecutive days of record-breaking open interest, beginning Friday, May 19, with 25,315 open positions, and continuing through yesterday with 27,326 open positions.
"The surging growth in volume in the CME's E-mini contracts indicates that more and more individuals and institutions are finding our E-mini product line to be valuable hedging tools and important investment vehicles during volatile market conditions," said CME Chairman Scott Gordon. "The E-mini concept pioneered by the CME has brought tremendous new opportunity to those who previously could not access our equity index contracts."
Said CME President and CEO Jim McNulty: "The synergies between the electronically traded smaller products and their larger open outcry counterparts are enormous. The CME hybrid platform of open outcry and electronic trading is providing a liquid, transparent and customer-friendly venue."
Traded electronically on the CME's GLOBEX?2 electronic trading system, both E-mini contracts are one-fifth the size of contracts traded actively via open outcry on the exchange's trading floor.
These contracts trade virtually around the clock from 3:45 p.m. until 3:15 p.m. the following day.
Many traders report that the liquidity of the standard-size contracts traded on the floor enables the E-mini contracts to be successful.
The E-mini S&P 500 futures contract was launched in September 1997 and quickly grew to become the exchange's third largest futures contract. The E-mini Nasdaq 100 contract was launched last June.
