CME Group Reports Weak Trading Across the Board in November

Forex trading fell by 24 percent year-on-year.

CME Group has published its trading volumes for the month of November this week, with the derivatives marketplace seeing a drop in trading on a yearly comparison for nearly all of its assets.

Namely, the operator of derivatives, options, and futures exchanges, saw a year-on-year drop in trading for interest rates, equity indexes, foreign exchange (forex), energy, and agricultural commodities. Metals was the only product to report a rise in volumes.

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For the exchange as a whole, CME Group reached an average daily volume of 18.2 million contracts in November 2019. When measuring this against the same period of the previous year, when 21.7 million contracts were traded, last month’s volume has fallen by 16 percent.

Forex trading for the Group dropped significantly on a yearly comparison. In fact, the average daily trading fell from 904,000 contracts in November 2018 by 24 percent to hit a daily average of 688,000 contracts in November.

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BRL futures soar on CME

However, it wasn’t all bad. During the month, the average daily volume of Swiss franc futures and options rose by 17 percent to 27,000 contracts. In November, the Brazilian real futures and options average daily volume grew substantially, jumped by 224 percent to 14,000 contracts.

The average daily trading of interest rates contracts declined by 14 percent on a yearly comparison, falling from 11.9 million contracts in November of 2018 down to 10.3 million last month.

During November, the average daily trading of energy and equity indexes fell the most. Specifically, the average volume for Energy contracts dropped by 28 percent, and equity indexes fell by 26 percent.

Spot FX notional volume falls on EBS

Via EBS, which provides access to the forex market, the average daily notional volume for Spot FX also dropped year-on-year by 24 percent, reaching $62.0 billion last month, down from $81.6 billion in November of 2018.

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