The operator of one of the largest US derivatives exchanges, CME Group, released its monthly trading metrics for October 2021, noticing an increase in the average daily volume (ADV) of interest rate contracts. According to the report, interest rate contracts surged by 94% on a yearly basis, while the overall ADV soared by 32% on a yearly basis to 20.4 million contracts during the period.
Also, in October, equity index ADV was 10.2 million contracts, options ADV accounted for 3.8 million, while energy ADV hit 2.5 million contracts. Moreover, agricultural ADV was 1.2 million contracts last month, while forex ADV hit 720,000 contracts and metals ADV also had 465,000 contracts.
“Micro E-mini futures and options had an ADV of 2.1 million contracts, representing 38.8% of overall Equity Index ADV, while Micro WTI Crude Oil futures accounted for 2.5% of overall Energy ADV and Micro Bitcoin futures accounted for 0.5% of overall Equity Index ADV,” CME Group commented about the yearly figures for the micro products ADV. Also, ADV in Latin America grew by 48 percent, while ADV in EMEA grew by 40% and Asia grew by 26 percent, respectively.
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September Metrics
As Finance Magnates reported, September’s metrics unveiled that FX ADV for the month came in at 975,000 contracts compared to the ADV of 1 million contracts achieved in the same month a year ago. Moreover, quarterly demand for FX contracts dropped by 6% year-over-year between July and September.
In addition to FX, demand for equities, agriculture, and metals derivatives also slowed in July, as well as over the entire quarter. Overall, the ADV was impacted by a surge in interest rates and energy products, which dragged the ADV higher. In September, ADV of interest rate derivatives jumped by 58 percent to 7.66 million contracts, while energy products took a leap of 14 percent. In contrast, metal products decreased by 40 percent, followed by a dip in agriculture and equities products ADV by 25 percent and 8 percent, respectively.
