CME Group Posts April Volume Figures and Q1 Earnings Results

The CME Group posted its April’s monthly figures and first quarter earnings report. For the month, combined Futures and Options volumes were 253.7 million contracts (average daily volume (ADV) of 11.6 million), a 13.0% percent from the same period last year and 1.8% above March’s figures. Outperforming was the Metal’s unit, which set all time daily records in numerous products following the sharp selloff that took place in Gold last month. The division’s 532,000 contract ADV was also a record.

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In FX, the CME failed to see monthly growth take place, as total volumes dropped 8.5% from March to 20.2 million contracts. The exchange did report a small 2.5% increase in FX options trading. The Futures volume decline occurred even as Japanese venues experience a breakthrough month due to increases in Yen trading. In individual names, month over month declines were seen in the Euro, Pound, and Canadian dollar, with an 18.1% increase in Yen trading not being enough to carry the entire unit higher.

During the quarter, the CME Group achieved Net Income of $236 million (EPS of $0.71) on Revenues of $1719 million. While revenue figures were below the same period last year, the CME called the figures ‘solid’ as volumes had rebounded from the second half of 2012. Commenting on the figures, CME Group Executive Chairman and President Terry Duffy stated “We have made progress so far this year as we continue to implement our global strategy.” He added, “Our overall average daily volume was 12.5 million in the first quarter compared with 10.5 million in the second half of last year, driven by strength in our interest rate, foreign exchange and equity products. As the over-the-counter market transitions, we are providing our clients with a variety of tools to help them manage risk. Looking ahead, we will keep investing in the company’s growth while also continuing to consistently return capital to shareholders in the most efficient way.”