CME Group's Rate Futures Trade Rebounds In October
By Jacob Bunge, Of DOW JONES NEWSWIRES
CHICAGO -(Dow Jones)- Rising interest rate futures trade at CME Group Inc. (
CME) helped the exchange operator post average daily volume of 10.8 million
contracts in October, the most of any derivatives exchange operator.
CME reported that trading in Eurodollar and Treasury futures contracts rose
over year-ago levels, a sign of stabilization in a market hit hard by bank and
hedge fund deleveraging.
All told, the Chicago-based exchange company traded 237 million contracts in
October, ahead of Frankfurt-based rival Deutsche Boerse (DB1.XE), which traded
228.8 million contracts across its Eurex and International Securities Exchange
derivatives units.
Average daily volume at CME rose 2% from September, but remained 13% below the
year-ago period, as the effects of the financial crisis continue to weigh on
trading activity in core CME markets.
Startup exchange ELX Futures LP, which is challenging CME for a piece of the
Treasury futures market, reported its highest monthly volume in October with
more than 1 million contracts traded and a 2.8% market share.
Equity index futures trade at CME remained sharply lower, down 43% compared
with the year-ago period, when the expanding financial crisis drove heavy trade
in products linked to stocks.
Energy trading on CME's New York Mercantile Exchange markets remained robust,
up 22% over October 2008 and 10% higher than the previous month.
Intercontinentalexchange Inc. (ICE) reported Tuesday that average daily volume
across its futures markets rose 1% year-on-year as the Atlanta-based exchange
operator reported a 17% rise in third-quarter profits, beating analysts'
expectations.
Commodity trade has remained generally robust compared to other futures
markets, and ICE's energy focus has helped drive year-to-date volume 11% higher
than the year-ago period, according to the company.
-By Jacob Bunge, Dow Jones Newswires; (312) 750 4117; jacob.bunge@dowjones.com
(END) Dow Jones Newswires
11-03-090849ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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