CME Group Announces Record Volume Across Suite of Short-Term WTI Options

Rhea-AI Summary

CME Group (CME) achieves record average daily volume in its suite of WTI weekly options with 12,291 contracts in August 2023. The company's fastest-growing energy products have seen a 74% increase in average daily volume for Friday Weekly WTI options, with a total combined volume for Monday and Wednesday expirations surpassing 100,000 contracts since launching. The single-day volume record of a combined 14,241 contracts traded on September 1, 2023, and over 930 unique trading users have participated since the launch, with 34% of volume originating outside of the U.S.

CHICAGO, Sept. 7, 2023 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that trading in its suite of WTI weekly options, the company's fastest growing energy products, reached record average daily volume in August of 12,291 contracts. All of the top five record months for Weekly WTI Crude Oil options have occurred this year.

"As global crude oil market participants continue to navigate a number of supply and demand factors, they are turning to our suite of weekly WTI options in record numbers," said Peter Keavey, Global Head of Energy and Environmental Products at CME Group. "Year to date, average daily volume for Friday Weekly WTI options reached a record 9,285 contracts, up 74%, while total combined volume for Monday and Wednesday expirations has already surpassed 100,000 contracts since launching just over a month ago."

WTI is the only global crude oil benchmark with highly liquid short-term options. The company expanded its WTI Crude Oil options to include Monday and Wednesday expiries on July 31, which have already been widely utilized by the industry:

• Single day volume record of a combined 14,241 contracts traded on September 1, 2023.
• Over 930 unique trading users since launch, with participation from corporate, hedge fund and bank clients.

Friday expiries also continue to grow as market participants turn to shorter dated options to manage risk:

• Single day volume record of 28,029 contracts traded on September 1, 2023.
• The number of firms trading Friday expiries is up 17% from 2022, with over 6,100 unique trading users year-to-date.
• 34% of volume originates outside of the U.S.

Weekly WTI Crude Oil options are listed by and subject to the rules of NYMEX. For more information on CME Group's Weekly WTI options products, please visit here.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

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SOURCE CME Group

FAQ

What is the record average daily volume of CME Group's suite of WTI weekly options in August 2023?

CME Group achieved a record average daily volume of 12,291 contracts in August 2023.

What is the percentage increase in average daily volume for Friday Weekly WTI options?

The average daily volume for Friday Weekly WTI options has increased by 74%.

What is the total combined volume for Monday and Wednesday expirations since launching?

The total combined volume for Monday and Wednesday expirations has surpassed 100,000 contracts since launching.

What is the single-day volume record of CME Group's WTI weekly options?

The single-day volume record of a combined 14,241 contracts was traded on September 1, 2023.

How many unique trading users have participated in CME Group's WTI weekly options since the launch?

Over 930 unique trading users have participated since the launch.

What is the percentage of volume originating outside of the U.S.?

34% of the volume originates outside of the U.S.