Including Friday's E-mini Russell volume of 62,066, combined volume for contract so far this month reached 1,051,875. Average daily volume in the E-mini Russell through Friday was 70,125, more than seven times the average daily volume from year-ago levels and up over 42 percent since just last month.
Meanwhile, open interest in the E-mini Russell 2000 also continued to set new records and on Friday settled at 98,018. Open interest represents the number of contract positions that are not closed out - or remain open - at the end of a trading session.
"The remarkable growth we have experienced in the E-mini Russell 2000 contract during the past year reflects market participants using the product to express a view on the relative strong performance of the small-cap segment of the U.S. equities market as well as the ever-expanding access to CME's markets via GLOBEX®," said Rick Redding, CME Managing Director for Products and Services.
The Russell 2000 is a capitalization-weighted index of the stocks of approximately 2,000 publicly traded, small-capitalization companies that are listed on the New York Stock Exchange, the American Stock Exchange and the NASDAQ. Like other E-mini equity index products traded at CME, the E-mini Russell 2000 contract is one-fifth the size of the standard Russell 2000 contract also traded at CME, or $100 times the value of the index. It is listed on GLOBEX, CME's electronic trading platform, and is available for trading virtually around the clock.
CME, the largest U.S. futures exchange, is also the leading marketplace for equity index futures and options on futures trading. Since 1999, more than 90 percent of volume in U.S. stock index futures and options on futures trades at CME.
Chicago Mercantile Exchange Inc. (www.cme.com) is the largest futures exchange in the United States. As an international marketplace, CME brings together buyers and sellers on its trading floors and GLOBEX® electronic trading platform. CME offers futures and options on futures primarily in four product areas: interest rates, stock indexes, foreign exchange and commodities. The exchange moved about $1.4 billion per day in settlement payments in 2003 and managed $39.5 billion in collateral deposits at Jan. 31, 2004. CME is a wholly owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE: CME), which is part of the Russell 1000® Index.
Chicago Mercantile Exchange, CME, the globe logo and GLOBEX are registered trademarks of Chicago Mercantile Exchange Inc. Russell 1000, Russell 2000, 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. Further information about CME and its products is available on the CME Web site at www.cme.com.
