CME Group Reports Drop in FX Volumes in November

The average daily volume for November was 21.7 million contracts, up 21 percent.

CME Group, a world-leading derivatives marketplace, has published its trading volume for November today. The firm, which recently completed its acquisition of NEX Group Plc, managed to achieve an increase in its average daily volume (ADV) of 21 percent year-on-year.

Specifically, the ADV for November was 21.7 million contracts. By the end of November, open interest was 128 million contracts. This is a slight increase of four percent from November last year and a jump of 19 percent from year-end 2017.

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Despite the overall uptick in trading volume, foreign exchange (forex) trading experienced a small drop during November. For the month, the ADV was 904,000 contracts, a decline of 1 percent from the same time period last year.

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Some of the highlights for the sector include the ADV for Australian dollar futures and options rising by 14 percent year-on-year to hit 113,000 contracts. The average number of contracts for Mexican peso futures and options traded per day jumped by an impressive 27 percent, to 62,000 contracts.

The trading volume for agriculture was also down on a yearly basis, dropping by 6 percent to reach 1.5 million contracts per day. However, the ADV for Soybean futures had a sizable increase of 15 percent. The ADV for Lean Hog futures and options and Wheat options increased by 14 percent and 12 percent respectively.

Trading Volumes for EBS and BrokerTec

Taking a look at the CME Group-operated BrokerTec, which offers fixed-income trading and EBS, which offers forex trading, the US treasury average daily notional value increased to 11 percent to $174.2 billion.

The average daily notional value was also up by five percent on a yearly basis for European Repo, hitting €252.7 billion. Spot FX, however, was down by one percent, falling from $82.3 billion in November 2018, to $81.6 billion in November of this year.

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