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- 2008 Global Futures and Options Trading Volume Hits 17.7 Billion Contracts, a 13.7 Percent Rise from 2007
- Global 2008 Volume Rate of Growth Slows From 30.9 Percent in 2007
- Global Interest Rate Volume Fell 14.4 Percent, Reflecting Credit Crisis
- Agricultural Volume Surges 38.7 Percent, Energy Volume up 16.8 percent
- Equity Index Derivatives Volume Rose 18 percent, Individual Equity Derivatives Volume up 25.2 percent
Futures and options trading during 2008 hit 17.7 billion contracts, according to data from 69 exchanges worldwide that were tracked by the Futures Industry Association. Total volume grew by 13.7 percent from 2007, a strong pace of growth but down from the 30.9 percent surge in trading during 2007, according to the FIA survey.
The FIA data cover all types of exchange-traded derivatives including futures, options on futures and options on securities. The data also include contracts traded in over-the-counter markets that are brought to exchanges for clearing.
Volume on U.S. futures exchanges rose 4.4 percent, with rapid growth in equity index products offset by a decline in the number of interest rate products that changed hands during 2008. That compares to the 25.1 percent surge in growth on U.S. options exchanges over the same period.
Long-term interest rate futures were the hardest hit. Ten-year Treasury futures trading tumbled 26.5 percent from 2007; Euro bund futures fell 23.8 percent and JGB futures slid 21.5 percent.
But equity products had a tremendous year, as did commodity products. Equity index futures and options volume rose 18 percent and individual equity derivatives volume gained 25.2 percent. In addition, agriculture volume surged 38.7 percent, while energy volume rose 16.8 percent.
FIA’s figures represent the number of contracts that are traded or cleared by exchanges, not the notional value of the contracts. Click here for full report .
On March 26, the FIA will host a webinar discussion on the volume data with the authors of the report: Galen Burghardt, senior vice president and director of research at Newedge and Will Acworth, editor of Futures Industry. Click here for more details and to register.
FIA is a U.S.-based international association with members from all facets of the futures industry, including many international futures and options exchanges. The FIA has been collecting and disseminating U.S. volume since 1960 and non-U.S. volume since 1986.
