CME Group Reports First-Quarter 2008 Volume Averaged a Record 13.7 Million Contracts per Day, Up 32 Percent; March 2008 Volume Averaged 13.5 Million Contracts per Day, Up 15 Percent
CHICAGO, April 1, 2008, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- CME Group, the world's largest and most diverse derivatives exchange, today announced first-quarter 2008 volume averaged a record 13.7 million contracts per day, up 32 percent from first-quarter 2007. Total electronic volume increased 41 percent versus the first quarter in 2007 to average a record 11.1 million contracts per day. Total electronic options volume increased 60 percent to average a record 414,000 contracts per day. March volume averaged 13.5 million contracts per day, up 15 percent from March 2007. Total volume exceeded 269 million contracts for the month, of which a record 83 percent was traded electronically. Total electronic volume averaged a record 11.1 million contracts per day, up 22 percent from the prior March.
First-Quarter Highlights
All CME Group major product lines achieved quarterly volume records. CME Group E-mini equity index volume averaged a record 3.6 million contracts per day, up 72 percent compared with first-quarter 2007. CME Group interest rate volume averaged a record 8.3 million contracts per day, up 24 percent. CME Group commodities and alternative investments volume averaged a record 949,000 contracts per day, up 20 percent. CME Group foreign exchange (FX) volume averaged a record 640,000 contracts per day, up 15 percent from same period in 2007, and representing a notional value of $87 billion.
Record quarterly NYMEX energy and metals volume on the CME Globex trading platform increased 51 percent to average more than one million contracts per day for the first time. Legacy e-CBOT products reached a record 3.9 million contracts per day during the first quarter of trading on CME Globex. Both 5-Year U.S. Treasury Note and 30-Year U.S. Bond volume reached quarterly records following tick size adjustments that went into effect on March 3, up 47 percent and 15 percent respectively compared to the same period in 2007.
All references to volume and rate per contract information in the text of this document assume combined legacy CME and legacy CBOT volumes and exclude our non-traditional TRAKRS products, for which CME Group receives significantly lower clearing fees than other CME Group products, and Swapstream products.
First-Quarter Average Daily Volume Records Q1 2008 ADV % Change vs. Product (in thousands) Q1 2007 Total CME Group Products 13,669 +32% Total Interest Rate Products 8,251 +24% 2-Year U.S. Treasury Notes 423 +87% 5-Year U.S. Treasury Notes 954 +47% 30-Year U.S. Bonds 591 +15% 10-Year U.S. Treasury Note Options 293 +31% Electronic 10-Year U.S. Treasury Note Swaps 3 +103% Total E-Mini Equity Index Products 3,628 +72% Total Equity Standard 202 +2% E-mini S&P 500 2,579 +87% S&P 500 futures 73 +19% E-mini NASDAQ 100 483 +32% E-mini Russell 2000 319 +53% Russell 2000 3 +19% Nikkei 225 19 +37% Nikkei 225 (Yen) Futures 18 +41% Mini $5 Dow 210 +62% Total Foreign Exchange Products 640 +15% Australian Dollar 53 +41% Euro FX 202 +8% Mexican Peso 27 +29% Total Commodities and Alternative Investments Products 949 +20% Oats 3 +23% Rough Rice 2 +14% Soybean 222 +61% Soybean Meal 65 +45% Soybean Oil 77 +64% Wheat 115 +53% Lean Hog 37 +22% Lumber 2 +42% Weather 5 +39% Feeder Cattle Futures 6 +13% Corn Options 78 +7% Electronic Corn 188 +28%
March 2008 Highlights
CME Group E-mini equity index volume averaged a record 4.0 million contracts per day, up 52 percent compared with March 2007. CME Group FX volume averaged a record 759,000 contracts per day, up 16 percent from the same period in 2007, and representing a notional value of $109 billion. CME Group commodities and alternative investments volume averaged 903,000 contracts per day, up 23 percent. CME Group interest rate volume averaged 7.5 million contracts per day, up 2 percent from March 2007. Record monthly NYMEX energy and metals volume on the CME Globex trading platform increased 71 percent to average more than 1.1 million contracts per day.
March 2008 Average Daily Volume Records % Change vs. Product March 2008 ADV March 2007 Total E-mini Equity Index Products 4,109 +52% E-mini Equity Index Futures 3,919 +52% Equity Standard Futures 189 +7% E-mini Russell 2000 365 +41% E-mini Russell 2000 Futures 358 +42% E-mini S&P 500 2,895 +62% E-mini S&P 500 Futures 2,805 +63% E-mini S&P MidCap 400 Futures 44 +33% E-mini MSCI EAFE Futures 3 +467% Nikkei 225 (Yen) Futures 21 +3% Nikkei 225 Futures 26 +25% Russell 2000 6 +116% S&P 500 Futures 119 +11% Total Foreign Exchange Products 759 +16% Electronic FX 709 +20% FX Futures 729 +14% FX Options 30 +83% Australian Dollar 61 +314% Euro FX 251 +20% Soybean Meal 66 +66% Electronic Soybean Meal 41 +198% Mini Silver Futures 5 +211% Lean Hog 43 +290% Electronic Lean Hog 12 +426% Live Cattle 53 +1% Electronic Live Cattle 9 +377% Soybean Options 64 +161% Soybean Oil Options 11 +235% CME GROUP QUARTERLY AVERAGE DAILY VOLUME (In thousands) Q1 2008 Q1 2007 Percent Change PRODUCT LINE Interest Rates 8,251 6,671 24% E-minis 3,628 2,107 72% Equity Standard 201 197 2% Foreign Exchange 640 555 15% Commodities and Alt. Inv.* 949 789 20% Total 13,669 10,320 32% VENUE Open Outcry 2,336 2,312 1% CME Globex and e-CBOT 11,097 7,846 41% Privately Negotiated 236 162 46%
*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 MONTHLY AVERAGE DAILY VOLUME (In thousands) March 2008 March 2007 Percent Change PRODUCT LINE Interest Rates 7,512 7,365 2% E-minis 4,019 2,642 52% Equity Standard 264 299 -12% Foreign Exchange 759 655 16% Commodities and Alt. Inv.* 903 727 24% Total 13,456 11,687 15% VENUE Open Outcry 2,048 2,422 -15% CME Globex 11,122 9,088 22% Privately Negotiated 286 177 61%
*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 Average Rate Per Contract (In dollars, and calculated from combined average daily volumes for entire period) By Product Line By Venue Commod- ities Priv- 3-Month Int- Equity and ately Period erest E- Stand- Foreign Alt. Open Elec- Negot- Ending Rates minis ard Exchange Inv. Total Outcry tronic iated Feb-08 0.506 0.705 1.501 0.963 1.109 0.635 0.563 0.616 2.593 Jan-08 0.509 0.699 1.478 0.964 1.096 0.635 0.510 0.622 2.947 Dec-07 0.530 0.687 1.427 0.985 1.074 0.648 0.517 0.629 3.057 Nov-07 0.523 0.671 1.442 0.972 1.070 0.636 0.503 0.623 3.050 Average Daily Volume (In thousands, average daily volumes combined for entire period) By Product Line By Venue Commod- ities Priv- 3-Month Int- Equity and ately Period erest E- Stand- Foreign Alt. Open Elec- Negot- Ending Rates minis ard Exchange Inv. Total Outcry tronic iated Mar-08 8,251 3,628 201 640 949 13,669 2,336 11,097 236 Feb-08 7,536 3,137 184 558 882 12,297 2,209 9,880 208 Jan-08 7,390 3,276 187 583 812 12,247 2,241 9,811 195 Dec-07 6,290 2,817 166 561 740 10,574 1,876 8,528 169
CME Group (http://www.cmegroup.com/) is the world's largest and most diverse derivatives exchange. Formed by the 2007 merger of Chicago Mercantile Exchange Holdings Inc. (CME) and CBOT Holdings, Inc. (CBOT), 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 is traded on the New York Stock Exchange and NASDAQ 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, Inc. TRAKRS and Total Return Asset Contracts are trademarks of Merrill Lynch & Co., Inc. These trademarks are used herein under license. 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 and revenues following the merger may be lower than expected; increasing competition by foreign and domestic entities, including increased competition from new entrants into our markets and consolidation of existing entities; 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 generate revenues from our 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; changes in our 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 our tiered pricing structure; the ability of our financial safeguards package to adequately protect us from the credit risks of clearing members; changes in price levels and volatility in the derivatives markets and in underlying fixed income, equity, foreign exchange and commodities markets; economic, political, geopolitical and market conditions; natural disasters and other catastrophes, our ability to accommodate increases in trading volume and order transaction traffic 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; our ability to continue to generate funds and/or manage our indebtedness to allow us to continue to invest in our business; industry and customer consolidation; decreases in trading and clearing activity; the imposition of a transaction tax on futures and options on futures transactions; and the seasonality of the futures 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 Annual Report on Form 10-K, 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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