International derivatives marketplace CME Group today announced that its quarterly international average daily volume (ADV) reached a record 7.8 million contracts in Q2 2024, up 23% year on year.
Reflecting all trading reported outside the United States, the record volume was driven by growth across all asset classes, with the highest trading volumes coming from interest rate and equity products. Commodities saw strong growth, with metals up 50%, energy up 40% and agricultural products up 25%.
“Market conditions in the second quarter of the year continued to create a heightened need for risk management as clients globally turned to CME Group markets to navigate sustained uncertainty and volatility,” said Julie Winkler, Senior Managing Director and Chief Commercial Officer, CME Group. “Our record Q2 international ADV was driven by significant increases in volume across all asset classes in EMEA and APAC, demonstrating how our clients turn to our products to hedge price risk.”
In Q2 2024, EMEA ADV hit a record 5.8 million contracts, up 28% from Q2 2023. Foreign exchange and interest rate products reached new records in Q2 2024, growing 27% and 26% respectively year on year. Commodities in the region also saw record quarterly ADV, with energy, metals and agricultural products up 54%, 45% and 33% respectively, compared to the same period in 2023.
APAC ADV stood at 1.7 million contracts in Q2 2024. The region saw strong quarterly ADV performance in metals, up 62%, while agricultural products ADV was up 14% year over year.
LatAm ADV stood at 182,000 contracts in Q2 2024, up 8% compared to Q2 2023. Metals and foreign exchange products both hit a record quarterly ADV in the region in Q2 2024, up 84% and 41% respectively year over year.
Canada ADV stood at 162,000 contracts in Q2 2024, up 11% compared to Q2 2023. This was a result of strong growth in energy and interest rate products, up 32% and 14% year over year.
