Chicago based futures exchange, the Chicago Mercantile Exchange (CME) has reported trading metrics for the month of July. The figures show strong declines against June volume however the exchange saw a 4% increase in volumes from a year earlier.
The exchange reported average volume of 10.9 million contracts per day, down 35% from a month earlier where the exchange traded 16.9 million contracts a day.
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In the FX markets the exchange witnessed a similar downfall in volumes, trading volume averaged 807 million contracts per day, up 1% from July 2012, and represented $96 billion of notional value per day. In June 2013, the exchange traded an average of $146 billion a day. Month over month volumes were affected by a sharp decline in yen volumes, with futures trading falling 47.1% (see below).
Despite the dip in trading volumes, the CME has reason to be optimistic; the derivatives marketplace announced positive earnings for the quarter. The group saw a 27% rise in quarterly profit where net income rose to $311.2 million, or 93 cents a share, in the second quarter, from $244.9 million, or 74 cents a share from a year earlier.