CME Group FX Futures and Options Reach New Volume and Open Interest Records

Rhea-AI Summary

CME Group announced a record single-day volume of 3.15 million foreign exchange futures and options contracts on March 8, 2023, totaling $296 billion in USD notional. This milestone marks a 5% increase from the previous record of 3 million contracts set in September 2022. Noteworthy achievements included 1.1 million Euro FX futures and 264,000 Canadian Dollar FX futures traded. Additionally, EFRP transactions reached a record 274,000 contracts, up 23% from December 2022. According to Paul Houston, the Global Head of FX Products, this growth is driven by clients seeking liquidity to manage currency exposure amid market uncertainty.

Positive

• Record single-day volume of 3.15 million contracts, equivalent to $296 billion in notional value.
• 5% increase over the previous record set in September 2022.
• Individual currency records achieved: 1.1 million Euro FX futures and 264,000 Canadian Dollar FX futures.
• EFRP transactions hit a record 274,000 contracts, a 23% rise from December 2022.

Negative

• None.

CHICAGO and LONDON, March 10, 2023 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced its foreign exchange futures and options reached a new single-day volume record of 3.15 million contracts on March 8, 2023, equivalent to $296 billion in USD notional.

In addition to the overall futures and options volume record, which represents a 5% increase over the previous record of 3 million contracts set in September 2022, CME Group also reached trading records in several individual currencies, including a record of 1.1 million Euro FX futures and a record 264,000 Canadian Dollar FX futures. In addition, blocks and exchange for related positions (EFRP) transactions traded a record 274,000 contracts on March 8, a level 23% higher than the previous record set in December 2022. 

"We are pleased to see strong momentum in our FX futures and options products as our clients turn to our deep liquidity to manage their currency exposure amid ongoing market uncertainty," said Paul Houston, Global Head of FX Products, CME Group. "We are pleased to offer clients the flexibility of both our highly liquid, central limit order book, as well as disclosed, OTC-style block and EFRP trading now supported by more than 20 liquidity providers."

For more information on CME Group FX products, go to www.cmegroup.com/fx.

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.

CME-G

 

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SOURCE CME Group

FAQ

What was CME's record for foreign exchange futures on March 8, 2023?

CME Group reached a record single-day volume of 3.15 million foreign exchange futures and options contracts.

How much was the notional value of CME's record volume on March 8, 2023?

The notional value was $296 billion.

What was the percentage increase in CME's forex futures volume compared to the previous record?

There was a 5% increase over the previous record of 3 million contracts.

What specific currency futures set records at CME on March 8, 2023?

CME set records for 1.1 million Euro FX futures and 264,000 Canadian Dollar FX futures.

What was the increase in EFRP transactions at CME on March 8, 2023?

EFRP transactions reached a record 274,000 contracts, a 23% increase from December 2022.