CME Group’s FX Volumes Mount Comeback in March

Several instruments saw a steadfast growth in March, led by FX, which received a boost via more volatile markets.

CME Group (NASDAQ: CME), one of the world’s largest derivatives marketplaces, has reported its March 2017 volumes, which showed mixed month-over-month performances across key business segments. On an aggregated basis, CME’s volumes fell relative to February, largely offset by a differential in trading days.

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In terms of its overall volume for March 2017, CME Group disclosed an average of 16.9 million contracts per day, which correlated to a fall of -8.2 percent month-over-month from 18.4 million contracts per day in February 2017. This reading snaps what had been two straight months of rising volumes at the group, though this average daily figure was attributed to a different number of trading days relative to February.

Looking at 2016 as a basis of comparison, March 2017 proved to be more active at CME Group across the board, showing a growth of 18.2 percent year-over-year from 14.3 million contracts per day in March 2016.

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FX rebounds

In terms of CME Group’s average daily foreign exchange (FX) volumes, this figure was higher in March 2017, coming in at 978,000 contracts per day as compared to just 764,000 contracts per day in February 2017, or 28.0 percent month-over-month, its highest reading in 2017. By extension, CME Group’s March 2017 figures bested its 2016 counterpart by 7.0 percent year-over-year.

Volatility was once again a factor in March, after markets seemingly took February off – no market drivers, and mitigated activity proved to be too much for most exchanges, many of which saw their volumes fall double digits in February on a month-over-month basis.

For the month ending March 2017, CME Group did see its recent surge in interest rate volume average halted, coming in at 8.7 million contracts per day. This was meant a fall of -17.9 percent month-over-month vs. 10.6 million contracts per day in February 2017. Interest rates were the primary catalyst for CME’s yearly growth in March 2017, climbing by 36.0 percent year-over-year.

Finally, CME’s equity indexes during March 2017 climbed higher to 3.2 million contracts per day, relative to 2.5 million contracts per day in February 2017, or 28.0 percent month-over-month – the latest reading was however virtually unchanged year-over year from March 2016.

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