CME Group Notches Record ADV in Q1, FX Volumes Fall

CME Group has struck a new all time high in ADV despite lingering weaknesses across its FX business.

CME Group (NASDAQ: CME), one of the world’s largest derivatives marketplace, has reported its volumes for Q1 2016 as well as March, which were broadly stronger than last quarter as well as over a YoY comparison, according to a CME statement.

Unlike the previous two quarters, CME Group’s volumes managed to trend in an upward direction during Q1 2016, a record average daily volume (ADV) of 16.9 million contracts, up 28.0% QoQ from 13.2 million contracts in Q4 2015. Over a yearly timetable this figure was also strong, swelling 12.7% YoY from 14.9 million contracts in Q1 2015.

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The standout performers during Q1 2016 were equity indexes, having jumped 28.0% YoY to 3.5 million contracts per day during the quarter. Alternatively, metals and interest rates also experienced a healthy growth during Q1 2016, up 23.0% and 9.0% YoY respectively. The only blemish to the group’s Q1 2016 volumes was its foreign exchange (FX) volumes, which fell -1.0% YoY to 454,000 contracts per day from 369,000 contracts per day in Q1 2015.

March FX Madness

The narrative was congruent across a monthly timeframe as well, with the aforementioned instruments all notching strong monthly performances. Leading the charge at CME Group in March 2016 was metals, which itself soared 28.0% MoM from February 2016.

In addition, energy products and equity indexes also saw their volumes grow during March 2016, trending higher by a margin of 24.0% and 10.0% MoM respectively. One of the weaker areas of the month was CME’s FX business, which fell -4.4% MoM to 912,000 contracts per day in March 2016 from 954,000 contracts in February 2016. Furthermore, FX volumes during March 2016 constituted a YoY decline of -16.0% from 1,087 contracts in March 2015.

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