CME Group Reports Q2 Financial Results – Net Income Rises 27%
The CME Group has reported its second quarter financial results. During the quarter, revenues rose 2.5% to $816.1 million versus
The CME Group has reported its second quarter financial results. During the quarter, revenues rose 2.5% to $816.1 million versus the same period in 2012, with net income increasing 27% to $311.2 million, with EPS reported at $0.93. During the quarter, average daily volumes rose 15.7% to 14,323,000, and 6.1% on a notional level as increases in lower rate per contract (RPC) Interest Rate products caused a decline in the overall RPC figure during the quarter.
In terms of FX, average daily volumes were 1,042,000 contracts, a 13.2% increase from the same period in 2012, and slightly above Q1’s 1,010,000 figure. Overall FX volumes accounted for 7.28% of CME Group volumes and 8.07% on a notional level. The figures compare to 7.43% and 7.39% in Q2 2012. The record volumes in FX were singled out by CME Group Chief Executive Officer Phupinder Gill who stated in the earnings report that “Our strong second-quarter results were highlighted by quarterly volume records in foreign exchange and metals and many daily and monthly volume and open interest records in other product areas.” Looking ahead, July volume figures are expected to be reported within the next few days.
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Commenting on the news, Executive Chairman and President Terry Duffy, stated in the CME Group’s prepared remarks that “We were extremely pleased to see trading volumes in our core business increase 16 percent during the quarter from second-quarter 2012, as clients turned to our products to manage heightened volatility in several markets. This significant growth demonstrates the demand for our product offerings, which we continued to expand through new product launches and extensions. Our global footprint also continues to broaden. Notably, we achieved record volume from Asia and Latin America during the quarter, up 28 and 40 percent from the same period last year, respectively. We intend to further strengthen our growth potential overseas with the launch of our new European exchange later this year.
Do you have a launch-date and status-update for CME Europe? Do they have a designated marketmaker program for their fx markets, and have they already secured liquidity providers? I think this could potentially be a success. Contract specs are better than their current products on the IMM.
Do you have a launch-date and status-update for CME Europe? Do they have a designated marketmaker program for their fx markets, and have they already secured liquidity providers? I think this could potentially be a success. Contract specs are better than their current products on the IMM.
Thanks. Will be interesting if they can get a foot on the ground. Fees seem steep for members doing less than 2 yards per month, especially for price makers. But then again its quoted in 0.5 pip incements, which i suppose is better for marketmakers than full decimal.
But its cheap if you do 3.5+ yards. Its a strange fee structure. You need to do >100 on ebs to get a better rate.
Thanks. Will be interesting if they can get a foot on the ground. Fees seem steep for members doing less than 2 yards per month, especially for price makers. But then again its quoted in 0.5 pip incements, which i suppose is better for marketmakers than full decimal.
But its cheap if you do 3.5+ yards. Its a strange fee structure. You need to do >100 on ebs to get a better rate.