The CME has posted its monthly futures and options volumes for October. During the month, combined futures and options average daily volumes (ADV) were 643,877 contracts, 18.5% below September’s figures.
The CME has posted its monthly futures and options volumes for October. During the month, combined futures and options average daily volumes (ADV) were 643,877 contracts, 18.5% below September’s figures. According to the CME, average daily volumes on a dollar notional level were more than $80 billion. On a Total monthly volumes were reported at 14,809,181 contracts, a 10.3% MoM decline, as October included two more business days than September. Volumes were also below the same period last year, as total monthly FX volumes in October 2012 were 16,315,747 contracts, 9.2% higher.
Bucking the overall trend was activity in FX options, which rose 12.3% on ADV of 59,000 contracts during October. While still dwarfed by futures trading, throughout the year FX options have been one of CME Group’s best performers, as volumes during October surged 90.6% above the same period in 2012. FX options volumes have been assisted by the overall increase in Volatility during 2013, as well as the CME’s increased efforts in raising awareness of the product.
In individual currencies, major names were all down with the euro, aussie, yen, and pound, all experiencing double-digit volume declines (see table below). Since peaking in June, CME FX volumes have been trending lower on a decline in volatility, as well as monetary policy rhetoric from the FED and ECB has led to rising interest rates. The latter has caused deleveraging among carry trade currency candidates to occur.
Volumes ripe for a spike?
The decline in FX volumes since July has occurred as the US dollar has weakened against major currencies. Since hitting a year high of 84.75 in July, the Dollar Index (DXY) fell to a low of 79.19 in October, before currently rebounding above 80.00. Following the dollar’s decline, the market looks poised for a spike higher as CME commitment of traders reports (COT) show speculators short positions against the dollar at year highs. Similar one-sided speculator positions in 2013 have led to spikes in FX volumes and prices. In addition to the benefits to overall volumes, sharp price moves will be expected to trigger further gains in FX options contracts.
The CME has posted its monthly futures and options volumes for October. During the month, combined futures and options average daily volumes (ADV) were 643,877 contracts, 18.5% below September’s figures. According to the CME, average daily volumes on a dollar notional level were more than $80 billion. On a Total monthly volumes were reported at 14,809,181 contracts, a 10.3% MoM decline, as October included two more business days than September. Volumes were also below the same period last year, as total monthly FX volumes in October 2012 were 16,315,747 contracts, 9.2% higher.
Bucking the overall trend was activity in FX options, which rose 12.3% on ADV of 59,000 contracts during October. While still dwarfed by futures trading, throughout the year FX options have been one of CME Group’s best performers, as volumes during October surged 90.6% above the same period in 2012. FX options volumes have been assisted by the overall increase in Volatility during 2013, as well as the CME’s increased efforts in raising awareness of the product.
In individual currencies, major names were all down with the euro, aussie, yen, and pound, all experiencing double-digit volume declines (see table below). Since peaking in June, CME FX volumes have been trending lower on a decline in volatility, as well as monetary policy rhetoric from the FED and ECB has led to rising interest rates. The latter has caused deleveraging among carry trade currency candidates to occur.
Volumes ripe for a spike?
The decline in FX volumes since July has occurred as the US dollar has weakened against major currencies. Since hitting a year high of 84.75 in July, the Dollar Index (DXY) fell to a low of 79.19 in October, before currently rebounding above 80.00. Following the dollar’s decline, the market looks poised for a spike higher as CME commitment of traders reports (COT) show speculators short positions against the dollar at year highs. Similar one-sided speculator positions in 2013 have led to spikes in FX volumes and prices. In addition to the benefits to overall volumes, sharp price moves will be expected to trigger further gains in FX options contracts.
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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