CME Group Reports August 2007 Volume Averaged 14.9 Million Contracts per Day, Up 78 Percent
CHICAGO, Sept 04, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
CME Group, the world's largest and most diverse exchange, today announced August volume averaged 14.9 million contracts per day, up 78 percent from August 2006. Total monthly volume exceeded 341 million contracts, of which 77 percent was traded electronically. Total options volume averaged a record 3.0 million contracts per day, up 69 percent from August 2006. Electronic options volume averaged a record 442,000 contracts per day, up 107 percent from the same period a year ago, representing 15 percent of total CME Group options volume.
CME Group E-mini equity index product volume averaged a record 3.6 million contracts per day in August, up 155 percent compared with August 2006. CME Group achieved monthly total volume records in E-mini S&P 500 contracts, averaging 2.5 million per day; Nasdaq-100 contracts, averaging 461,000 per day; Russell 2000 contracts, averaging 336,000 per day; S&P MidCap 400 contracts, averaging 42,000 per day; and $5 Dow contracts, averaging 234,000 per day. Total equity options volume averaged 209,000 contracts per day, an 82 percent increase from the same period a year ago. Total E-mini index options volume averaged 109,000 contracts per day, more than doubling from August 2006.
CME Group interest rate product volume averaged a record 9.8 million contracts per day in August, up 67 percent from August 2006. CME Group achieved monthly total volume records in Eurodollars, 5-year and 2-year U.S. Treasury Notes of 5.6 million, 1.1 million and 468,000 contracts per day, respectively.
All references to volume and rate per contract information in the text of this document exclude our non-traditional TRAKRS products, for which CME Group receives significantly lower clearing fees than other CME Group products, and Swapstream products.
During August, a record 10 percent of Eurodollar options traded electronically and 24 percent of Treasury and Bond options were traded electronically, and a combined 12 percent of interest rate options were traded electronically.
CME Group foreign exchange product volume averaged 641,000 contracts per day in August, up 67 percent compared with the year-ago period, reaching the highest non-roll month average daily volume ever. Electronic foreign exchange volume averaged a record 608,000 contracts per day, up 75 percent compared with August 2006. August foreign exchange futures and options volume represented a notional value of $79 billion.
CME Group commodities and alternative investment products volume averaged 676,000 contracts per day in August, up 13 percent compared with the same period a year ago. Corn futures volume averaged 189,000 contracts per day, up 3 percent from August 2006. Soybean futures averaged 101,000 contracts per day, up 42 percent, and wheat futures averaged 92,000 contracts per day, up 27 percent. CME Group electronic commodities and alternative investments volume was 52 percent of total CME Group commodities and alternative investments volume in August.
NYMEX energy and metals volume on the CME Globex platform in August averaged a record 774,000 contracts per day, increasing 5 times the average daily volume for the same period a year ago.
CME GROUP MONTHLY AVERAGE DAILY VOLUME - INTEREST RATES (In thousands, average daily volume combined for entire month) August 2007 ADV % Change vs. August 2006 Eurodollar futures 3,371K 72 % 10-year U.S. Treasury Note futures 1,686K 56 % 5-year U.S. Treasury Note futures 972K 67 % 30-year Bond futures 497K 31 % 2-year U.S. Treasury Note futures 459K 137 % Eurodollar options 2,179K 89 % Treasury and Bond options 410K 12 % CME GROUP MONTHLY AVERAGE DAILY VOLUME (In thousands, average daily volume combined for entire month) August 2007 August 2006 Percent Change PRODUCT LINE Interest Rates 9,753 5,843 67 % E-Minis 3,582 1,404 155 % Equity Standard 211 129 63 % Foreign Exchange 641 383 67 % *Commodities and Alt. Inv. 676 596 13 % Total 14,864 8,356 78 % VENUE Open Outcry 3,221 2,426 33 % CME Globex and e- CBOT 11,409 5,794 97 % Privately Negotiated 234 136 72 %
*CME Group Commodities and Alternative Investments product line includes the legacy CME Commodities and Alternative Investments product line and the legacy CBOT Agricultural product line and Metals, Energy and Other product line.
CME GROUP ROLLING THREE-MONTH AVERAGES (excluding trakrs) Average Rate Per Contract (In Dollars) By Product Line By Venue Commod- 3-Month Inter- Equity Foreign ities Privately Period est Stan- Ex- and Alt. Open Elec- Nego- Ending Rates E-Minis dard change Inv. Total Outcry tronic tiated Jul-07 0.514 0.686 1.357 1.036 1.021 0.627 0.487 0.611 2.914 Jun-07 0.516 0.700 1.334 1.090 1.034 0.639 0.492 0.626 2.948 May-07 0.515 0.715 1.364 1.080 0.994 0.639 0.492 0.631 3.018 Apr-07 0.524 0.716 1.367 1.118 0.993 0.650 0.509 0.637 3.144 Average Daily Volume (In Thousands) By Product Line By Venue Commod- 3-Month Inter- Equity Foreign ities Privately Period est Stan- Ex- and Alt. Open Elec- Nego- Ending Rates E-Minis dard change Inv. Total Outcry tronic tiated Aug-07 8,345 3,051 206 645 794 13,041 2,705 10,104 232 Jul-07 7,386 2,482 185 591 790 11,434 2,391 8,835 208 Jun-07 6,670 2,127 180 527 818 10,322 2,297 7,838 188 May-07 6,444 2,055 200 525 744 9,967 2,200 7,607 159
Methodology for Reporting Third-Quarter Results
CME Group was formed on July 12, 2007, at the completion of the merger of CME and Chicago Board of Trade. For the purpose of quarterly reporting, volume will be calculated from that date onward in the following manner. CME standalone volume through July 12, 2007, plus the combined volumes of CME and CBOT for the remainder of the month of July and the full month of August, averaged 12.4 million contracts per day, up 61 percent through the same period in the third-quarter 2006 using the same methodology.
This methodology also will be the basis for calculating transaction fee revenue for the third quarter. Following is a breakdown of this comparison by product line.
CME GROUP QUARTER-TO-DATE AVERAGE DAILY VOLUME
(In thousands, average daily volume totals reflect CME standalone volume for the first eight trading days and combined volume for the remainder of the month) Q3TD 2007 Q3TD 2006 Percent Change PRODUCT LINE Interest Rates 7,925 4,298 55 % E-Minis 3,106 1,743 99 % Equity Standard 187 139 40 % Foreign Exchange 635 373 68 % Commodities and Alt. Inv. 593 412 16 % Total 12,446 6,965 61 % CME GROUP ROLLING THREE-MONTH AVERAGES (excluding trakrs)
Average Rate Per Contract
(In dollars, and calculated using July volume reflecting CME standalone volume for the first eight trading days and combined volume for the remainder of the month)
By Product Line By Venue Commod- 3-Month Inter- Equity Foreign ities Privately Period est Stan- Ex- and Alt. Open Elec- Nego- Ending Rates E-Minis dard change Inv. Total Outcry tronic tiated Jul-07 0.513 0.684 1.359 1.036 1.042 0.628 0.486 0.614 2.937
CME Group (http://www.cmegroup.com) is the world's largest and most diverse exchange. Formed by the 2007 merger of the Chicago Mercantile Exchange Holdings and CBOT Holdings, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on its trading floors. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, agricultural commodities and alternative investment products such as weather and real estate. CME Group's Class A common stock is traded on the New York Stock Exchange and the Nasdaq Global Select Market under the symbol "CME."
The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex and E-mini, are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at http://www.cmegroup.com.
Statements in this news release that are not historical facts are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. Among the factors that might affect our performance are: our ability to successfully integrate the businesses of CME Holdings and CBOT Holdings, including the fact that such integration may be more difficult, time consuming or costly than expected; revenues following the merger may be lower than expected; increasing competition by foreign and domestic competitors, including new entrants into our markets; our ability to keep pace with rapid technological developments, including our ability to complete the development and implementation of the enhanced functionality required by our customers; our ability to continue introducing competitive new products and services on a timely, cost-effective basis, including through our electronic trading capabilities, and our ability to maintain the competitiveness of our existing products and services; our ability to adjust our fixed costs and expenses if our revenues decline; our ability to continue to realize the benefits of our transaction processing services provided to third parties; our ability to maintain existing customers and attract new ones; our ability to expand and offer our products in foreign jurisdictions; changes in domestic and foreign regulations; changes in government policy, including policies relating to common or directed clearing; the costs associated with protecting our intellectual property rights and our ability to operate our business without violating the intellectual property rights of others; our ability to generate revenue from our market data that may be reduced or eliminated by the growth of electronic trading and the redundancies in the market data offerings of Chicago Mercantile Exchange Inc. and Board of Trade of the City of Chicago, Inc.; changes in the rate per contract due to shifts in the mix of the products traded, the trading venue and the mix of customers (whether the customer receives member or non-member fees or participates in one of our various incentive programs) and the impact of tiered pricing; the ability of our financial safeguards package to adequately protect us from the credit risk of clearing firms; changes in price levels and volatility in the derivatives markets and in underlying fixed income, equity, foreign exchange and commodities markets; economic, political and market conditions; our ability to accommodate increases in trading volume without failure or degradation of performance of our systems; our ability to execute our growth strategy and maintain our growth effectively; our ability to manage the risks and control the costs associated with our acquisition, investment and alliance strategy; industry and customer consolidation; decreases in trading and clearing activity; the imposition of a transaction tax on futures and options on futures transactions; and seasonality of the derivatives business. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, including our most recent Quarterly Report on Form 10-Q, which is available in the Investor Relations section of the CME Group Web site. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
CME-G
SOURCE CME Group
http://www.cmegroup.com
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