<p>The single-day volume of foreign exchange futures and options contracts
traded on the Chicago Mercantile Exchange’s (CME) Globex electronic trading
platform hit a new record of 3.15 million contracts on March 18, 2023. The new
volume is equivalent to $296 billion in USD notional, CME Group disclosed in a statement on Friday.</p><p>The new volume represents a 5% growth over the <a href=”https://www.financemagnates.com/institutional-forex/cme-groups-fx-futures-and-options-hit-all-time-high-volume-in-sept/” target=”_blank” rel=”follow”>previous record of over 3 million
contracts</a> posted on September 14, 2022. The single-day volume at the time <a href=”https://www.financemagnates.com/institutional-forex/exchanges/fx-futures-and-options-volume-on-cme-peaks-with-3-million-contracts/” target=”_blank” rel=”follow”>surged by 7%</a> over the prior
single-day trading record of 2.8 million recorded on December 2, 2020. CME
Group’s open interest record also hit an all-time high of 3.25 million
contracts on September 8, 2022 at $294 billion notional.</p><p>‘Strong Momentum’</p><p>Speaking on the new record, Paul Houston, Global Head of FX Products at
CME Group, noted that the derivatives marketplace organizer, which saw a <a href=”https://www.financemagnates.com/institutional-forex/cme-group-beats-estimates-and-publishes-higher-2022-results/” target=”_blank” rel=”follow”>6% growth in revenue</a> in 2022, achieved
the “strong momentum” despite “ongoing market uncertainty.”</p><p>”We are pleased to offer clients the flexibility of both our highly
liquid, central limit order book, as well as disclosed, OTC-style block and exchange for related position (EFRP) trading now supported by more than 20 liquidity providers,” Houston
added. </p><p>CME Group Marks New Record Highs</p><p>Apart from the new single-day volume in FX futures and options
contracts, CME also achieved new trading records in several individual currencies.
For instance, trading of the Euro FX futures contracts on Globex has peaked at a
record 1.1 million contracts so far. A record trading of 264,000 contracts of the Canadian Dollar
FX futures has also been seen so far. </p><p>“In addition, blocks and exchange for related positions (EFRP)
transactions traded a record 274,000 contracts on March 8, a level 23% higher
than the previous record set in December 2022,” CME Group explained.</p><p>Meanwhile, on January 12, 2023, the single-day volume of Secured
Overnight Financing Rate (SOFR) futures and options contracts traded on Globex <a href=”https://www.financemagnates.com/institutional-forex/cme-group-hits-record-756m-single-day-sofr-futures-and-options-contracts/” target=”_blank” rel=”follow”> reached a record 7.56 million
contracts</a>. This came with a record open interest (OI) rate of 35.7 million
contracts on the same day.</p><p>“Individually, SOFR futures reached a record of 4,513,725 contracts
traded on the same day. SOFR options traded a record 3,044,742 contracts and
reached record OI of 26,258,989 contracts on January 12,” CME Group disclosed
in a previous statement.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
