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CME Daily Trading Volume Up in December
CME Group Inc.'s (CME) December daily trading volume rose as a major jump in interest-rate and energy contract volumes offset a drop in its other product lines, while rival exchange IntercontinentalExchange Group (ICE) reported a jump in futures and options contract volume.
Exchanges are seeing an increase in business this year from handling swap trades, which lawmakers in the U.S. and Europe targeted for stricter regulation after some privately traded derivatives markets, such as for credit default swaps, were blamed for deepening the 2008 financial crisis.
CME, parent company of the Chicago Mercantile Exchange, said on average 10.9 million contracts were traded daily in December, up 13% from a year earlier. More than 228 million contracts total were traded in December, with 85% traded electronically.
Interest-rate volume averaged five million contracts a day, up 38% from a year earlier. CME runs the leading franchise in U.S. interest-rate futures and has long been seen as a natural place for traders to clear swap contracts linked to similar rates.
Energy index volume rose 16% to 1.5 million contracts a day. Equity index volume, however, dropped 7.3% to 2.5 million contracts per day.
Eurodollar futures volume climbed 51% to an average of two million contracts a day, while treasury futures volumes rose 6% to 1.8 million contracts a day.
Meanwhile, Eurodollar options averaged 652,000 contracts a day, up drastically--142%--from last year, and treasury options rose 66% to 536,000 contracts a day.
ICE reported its daily volume for options and futures increased 16% to 3.2 million contracts year over year as its largest segment, natural gas, rose 34%.
ICE reported its ICE Brent futures and options volumes increased 10%, its ICE power volumes jumped 3.3%, and its ICE oil and ICE natural gas volumes rose 10% and 34% respectively. ICE equity index futures and options volumes decreased 7.5%.
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(END) Dow Jones Newswires 01-03-141115ET Copyright (c) 2014 Dow Jones & Company, Inc.