CME Group Reports Mixed September, FX Trading Up MoM

On a yearly comparison, FX trading fell by six percent.

CME Group has published its trading volumes for the third quarter of 2019, as well as its monthly volume for September, this Wednesday revealing a year-on-year uptick for both periods.

For the third quarter of 2019, the derivatives marketplace reached an average daily volume (ADV) of 20.2 million contracts. When measuring this against the third quarter of 2018, it is higher by 30 percent.

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During September, the average daily volume was 19.7 million contracts per day. This represents an increase of 13 percent against the same month of the previous year.

Although higher on an annual comparison, September’s volume does not measure up against the previous month, where 24.3 million contracts were traded on average each day. As a percentage, last month’s ADV has fallen by 23.3 percent month-on-month.

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FX ADV rises MoM for CME Group

Breaking down the trading volumes down into segments, the foreign exchange (forex) volume traded on CME averaged 1.1 million contracts per day in September. On a yearly comparison, this is lower by six percent. However, against August’s figure of 821,00 contracts per day, FX trading has increased by 34 percent month-on-month.

Highlights for the FX segment include a record FX Link daily volume of 41,014 contracts, which represents a $4.27 billion in notional value, on the 18th of September this year. 

Furthermore, the ADV of Japanese yen futures and options increased by nine percent to 159,00 contracts. The average daily volume of Canadian dollar futures and options also grew by three percent to 101,000 contracts.

In September, the options volume came in at an average of 4.1 million contracts per day. This represents an increase of 16 percent when weighed against September 2018. However, when measured against the previous month, September’s value is lower by 12.8 percent.

BrokerTec fixed income, and EBS foreign exchange trading activity highlights include the average daily notional Spot FX volume decreasing by 10 percent year-on-year down to $78 billion. The US Treasury average daily notional volume, on the other hand, grew by 17 percent to $172 billion.

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