CME Group’s February Volumes Mixed, FX Leads Decline

CME Group's volumes were mixed in February, though specific segments continued to weigh in 2017.

CME Group (NASDAQ: CME), one of the world’s largest derivatives marketplaces, has reported its February 2017 volumes, which showed mixed month-over-month performances across key business segments. The largest decline was seen across interest rate and FX volumes.

In terms of its overall volume for February 2017, CME Group disclosed an average of 18.4 million contracts per day, which correlated to a rise of 15.0 percent month-over-month from just 16.0 million contracts per day in January 2017. This is the second straight month the group has reported rising volumes, despite markets lacking any major drivers in February.

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In addition to securing an increase in its month-over-month volumes, CME’s latest figures were able to best their 2016 equivalents. The ADV in February 2017 was roughly 1.0 percent higher year-over-year from February 2016.

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FX Pointed Lower

In terms of CME Group’s average daily foreign exchange (FX) volumes, these figures were sizably lower in February 2017, yielding just 764,000 contracts per day as compared to just 920,000 contracts per day in January 2017, or -17.0 percent month-over-month.

Volatility in FX markets has been on the decline in February, after an unusually busy January that saw the inauguration of Donald Trump in the United States. February was devoid of any major news outside of a buildup for March’s Fed meeting, which points to a rate hike.

For the month ending February 2017, CME Group again saw its interest rate volume average rise, this time to 10.6 million contracts per day, which indicated a climb of 26.2 percent month-over-month vs. 8.4 million contracts per day in January 2017.

Finally, CME’s equity indexes during February 2017 was unchanged at 2.5 million contracts per day, relative to 2.5 million contracts per day in January 2017 – the latest reading was however -27.0 percent lower year-over year from February 2016.

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