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CME Group’s FX Futures and Options Hit All-Time-High Volume in Sept

Started by forex4you, Oct 07, 2022, 04:16 am

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CME Group's FX Futures and Options Hit All-Time-High Volume in Sept

<p class="text-align-justify">The volume of forex futures and options traded on Chicago Mercantile Exchange's (CME) Globex hit an all-time-high monthly volume in September.</p><p>Year-over-year, the average daily volume (ADV) of FX futures in contract terms surged as follows: Euro (59%), Japanese yen (78%), British pound (84%), Australian dollar (13%), Canadian dollar (31%), Swiss franc (24%) and New Zealand dollar (48%). </p><p>For the forex options, the numbers improved by: EUR (80%), GBP (74%),  and JPY (33%).</p><p>CME Group disclosed these on Tuesday in its September and third quarter 2022 market statistics shared with Finance Magnates.</p><p>Paul Houston, the Global Head of FX at CME Group, explained that the new record was driven not only by "heightened forex <a href="" target="_blank" id="7fd330d9-8855-4c31-9770-cb52b328c117_1" class="terms__main-term">volatility</a>," but also "record levels of open interest, particularly from buy-side customers."</p><p>"Record volumes of <a href="" target="_blank">over 3 million contracts</a> ($272 billion notional) were traded on September 14, as well as another all-time open interest record of 3.25 million contracts ($294 billion notional) on September 8," Houston disclosed.</p><p>'Record Open Interest'</p><p>According to CME Group, in September, the ADV for listed forex products in contract terms surged significantly by 50% YoY. </p><p>Furthermore, the average open interest in these products powered up 16% YoY, the leading derivatives exchange said.</p><p>Houston explained: "September's quarterly roll saw record open interest transference as market participants maintained their positions in capital-efficient cleared FX futures and options. </p><p>"The open interest transference was 11% greater than historical averages, with 81-90% of positions being rolled across major currencies."</p><p>Furthermore, CME Group disclosed that volumes in blocks and exchange for related positions (EFRPs) of its listed FX futures and options contracts skyrocketed 86% year-to-date in 2022 when compared to the same period in 2021. </p><p>On top of that, the derivatives exchange group noted that volumes on FX Link, which allows for a seamless connection between the FX futures contract and the over-the-counter FX marketplace, hit an all-time monthly volume record of 47,000 contracts in September. </p><p>This represents a 197% increase when compared to figures recorded in September last year, CME Group said.</p><p>In contrast, the volume is a 98% jump in year-to-date ADV when compared to the same period in 2021.</p><p>'Highest September ADV on Record'</p><p>On the whole, CME Group said its ADV had grown 36% to 25.7 million contracts in September, representing its highest September ADV on Record.</p><p>The leading derivatives marketplace's ADV for the third quarter of the year ended September also jumped 26% to 22.4 million contracts. </p><p>CME Group said the record is its fourth-highest quarterly volume ever.</p><p>Meanwhile, Finance Magnates reported on Tuesday that CME Group's <a href="" target="_blank">Electronic Broking Service's (EBS)</a> spot forex average daily notional value <a href="">climbed 30% month-over-month</a> to $76.3 billion in September.</p><p>The EBS, which is owned by the CME Group, is a wholesale electronic trading platform for forex trading with market-making banks.</p>

This article was written by Solomon Oladipupo at

Source: CME Group's FX Futures and Options Hit All-Time-High Volume in Sept
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