CME Group Reports Sixth Consecutive Record Quarter for Aluminum Futures Volume

Rhea-AI Summary

CME Group achieves record volume for Aluminum futures contract for sixth consecutive quarter and September

Positive

• Average daily volume in Q3 was a record 4,656 contracts, up 98% from last year
• Average daily volume in September was a record 6,118 contracts, up 132% from last year
• Average daily open interest in Q3 grew 267% from last year

Negative

• None.

September average daily volume also reached a record 6,118 contracts

CHICAGO, Oct. 9, 2023 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that participation in its global Aluminum futures contract continues to accelerate, recently achieving record volume for the sixth consecutive quarter and the month of September. Average daily volume (ADV) in the third quarter was a record 4,656 contracts, up 98% from last year, while ADV in September was a record 6,118 contracts, up 132% from last year. Average daily open interest (ADOI) in Q3 also grew 267% from last year.

"We are seeing strong client interest and support for our global Aluminum contract, which continues to hit new milestones," said Jin Hennig, Managing Director and Global Head of Metals at CME Group. "In addition to record volume in Q3 and September, we have seen back to back record volume days in October, and multiple trading days where over 10,000 contracts have traded. We are proud of the significant progress we have made to create an alternative aluminum market, while also growing our entire industrial metals business."

"CME Group continues to build a strong presence in industrial metals, which is evident by the steadily increasing demand for its Aluminum markets," said Jonathan Tulkoff, Founding Partner and Portfolio Manager at Commodity Asset Management. "We appreciate all of the benefits that come with transacting with CME Group, including capital efficiencies, customer protections and well understood market controls. We look forward to expanding our participation in their markets moving forward."

"We appreciate the tremendous work that CME Group has done to create a more robust, alternative aluminum market, which benefits the entire industry," said Brian Hesse, CEO of PerenniAL Aluminum. "Based on the growing demand and acceptance, we will offer a CME Group Aluminum price reference in our 2024 contracts. This will allow us to provide more transparent and well-regulated pricing to our clients."

"We have been closely monitoring the growth of CME Group Aluminum markets, and these latest milestones align with the launch of our USCF Aluminum Strategy Fund (ALUM), which will invest in CME Group Aluminum contracts," said John Love, President & CEO of USCF Investments. "Investors are increasingly looking for exposure to aluminum and other critical energy transition metals. We applaud CME Group for their commitment to growing their industrial metals markets and providing more opportunities for investors around the world."

CME Group's industrial metals business continues to grow alongside aluminum as investors increasingly value the reliability and efficiency of CME Group markets.

• Copper options ADV and ADOI year-to-date through September was the highest on record at 6,309 and 113,092 contracts respectively.
• Copper futures ADV year-to-date through September was up 25%.
• Cobalt futures ADV year-to-date through September was up 174%.
• September was a record month for Lithium Hydroxide futures, with over 3,200 contracts traded and open interest surpassing 7,000 contracts for the first time.

Aluminum (ALI) futures are listed by and subject to the rules of COMEX. For more information, please visit www.cmegroup.com/aluminum.

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 was the average daily volume in Q3?

The average daily volume in Q3 was a record 4,656 contracts, up 98% from last year.

What was the average daily volume in September?

The average daily volume in September was a record 6,118 contracts, up 132% from last year.

How much did the average daily open interest grow in Q3?

The average daily open interest in Q3 grew 267% from last year.