CME Group Reaches New Milestones in Aluminum Futures as New Clients Double

Rhea-AI Summary

CME Group, the world's leading derivatives marketplace, reported a significant increase in market participants trading Aluminum futures, with 406 unique accounts in April, doubling from the previous year. Average daily open interest also rose by 11%, and ADV saw a 70% increase year-over-year. The company's base metals complex, including Copper futures and options, achieved record numbers in April. The first physical transaction referencing CME Group Aluminum futures pricing occurred, indicating strong commercial demand for transparent markets.

Positive

• The number of market participants trading Aluminum futures doubled from the previous year, reaching 406 unique accounts in April.

• Average daily open interest increased by 11% compared to the previous year, showcasing growing interest in Aluminum futures.

• ADV for Aluminum futures rose by 70% year-over-year, indicating increased trading activity and market acceptance.

• Copper futures and options also achieved record ADV and open interest numbers in April, demonstrating strong performance in the base metals complex.

• The first physical transaction referencing CME Group Aluminum futures pricing occurred, highlighting significant commercial demand for transparent market solutions.

Negative

• None.

CHICAGO, May 1, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that the number of market participants trading Aluminum futures has doubled since last year, reaching 406 unique accounts in April, while ADV was up 70% year-over-year, and average daily open interest increased 11%. 

"We continue to grow liquidity in our Aluminum futures, which in turn has increased our contract's acceptance within the industrial metals industry," said Jin Hennig, Managing Director and Global Head of Metals at CME Group. "In addition to doubling our client participation since last year, April marked the first time a physical transaction has referenced our Aluminum futures pricing, which underscores the strong commercial demand we are seeing for our transparent and well-understood markets."

"We are pleased to have executed the first physical contract referencing CME Group Aluminum futures prices after witnessing its growing relevancy over the last few years," said Brian Hesse, CEO of PerenniAL Aluminum. "CME Group has worked diligently to expand participation in their markets and create viable alternative solutions that benefit our clients. We look forward to seeing how these markets continue to grow and evolve to help our industry mitigate price risk effectively." 

CME Group's base metals complex has been growing consistently year-over-year. Copper futures and options also achieved April records, with futures reaching record ADV of 194,937 and options reaching record ADV of 19,513. Copper futures and options reached a combined open interest record of 588,115 contracts on April 24, 2024.

Aluminum (ALI) futures are listed by and subject to the rules of COMEX. For more information 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 is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. 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.

www.cmegroup.mediaroom.com

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SOURCE CME Group

FAQ

How many unique accounts were trading Aluminum futures in April with CME Group?

406 unique accounts were trading Aluminum futures in April with CME Group, doubling from the previous year.

What was the percentage increase in ADV for Aluminum futures year-over-year?

ADV for Aluminum futures increased by 70% year-over-year, indicating a significant rise in trading activity.

Which industry saw growing acceptance of CME Group's Aluminum futures?

The industrial metals industry witnessed increased acceptance of CME Group's Aluminum futures, driven by enhanced liquidity.

What was the notable achievement in April regarding CME Group's base metals complex?

Copper futures and options achieved record numbers in April, showcasing strong performance within CME Group's base metals complex.

What recent milestone was reached by CME Group in Aluminum futures trading?

CME Group executed the first physical contract referencing Aluminum futures pricing, indicating significant commercial demand for transparent markets.