CME Group Announces Record Volume as Participation in Aluminum Futures Accelerates
CME Group has reported a remarkable 359% increase in average daily volume for Aluminum Futures in Q3 2022 compared to Q1, reaching a record volume of 6,709 contracts on September 14. The average daily volume in September stands at approximately 3,700 contracts, with an open interest of about 1,000 contracts. This year has seen significant growth in participation from clients, offering manufacturers effective tools for managing aluminum price risks. CME Group aims to enhance liquidity and provide diverse solutions to market participants.
- Aluminum Futures average daily volume increased by 359% in Q3 2022 compared to Q1.
- Achieved a record single-day volume of 6,709 contracts on September 14, 2022.
- Average daily volume in September is approximately 3,700 contracts, with open interest at about 1,000 contracts.
- Significant growth in participation, with nearly 150 new accounts trading since May 2022.
- None.
CHICAGO, Sept. 16, 2022 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that Aluminum Futures average daily volume is up
"We have seen an increase in demand from aluminum participants to enhance liquidity and create a more robust alternative market," said Jin Chang, Managing Director and Global Head of Metals at CME Group. "We are pleased with the incremental strides we have made in growing our global Aluminum Futures, with average daily volume of approximately 3,700 contracts so far in September and open interest of approximately 1,000 contracts. We welcome our new clients and look forward to helping them manage their price risk more efficiently."
"Participation in CME Group's aluminum futures market has grown considerably this year, offering manufacturers and distributors another viable tool to manage their exposure to aluminum prices," said Andy Massey, Vice President of Metals, Procurement and Transportation of U.S.-based Bonnell Aluminum. "Bonnell Aluminum has recently begun using CME Group contracts as a hedging tool to manage underlying aluminum price risk, and we will also be referencing CME Group's Aluminum Futures prices in our 2023 contracts for critical infrastructure markets. We appreciate the efforts by CME Group to further build these markets for the long-term health of our industry."
"Capital markets can effectively serve investors of all backgrounds when they provide them with a diverse toolkit of solutions that can manage risk, expand existing liquidity and offer more choices for achieving investment goals and objectives," said Hubert De Jesus, Managing Director, Global Head of Market Structure and Electronic Trading, BlackRock.
"CME Group provides efficient and orderly markets, which market participants depend on to manage their risk effectively," said Steven List, Managing Director of Trading at AlphaSimplex. "The recent growth in CME Group's Aluminum markets is a key milestone, offering more sources of liquidity to metals markets participants."
All 25 of the top 25 Aluminum Futures volume days have occurred since April of this year, with nearly 150 new accounts trading since May. Aluminum Futures (Product Code: ALI) are listed by and subject to the rules of COMEX. For more information, please visit here.
About CME Group
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. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.
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SOURCE CME Group
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