Derivatives marketplace CME Group today announced that average daily volume (ADV) outside the United States reached a record 6.8 million contracts in 2023, up 8% from 2022.
This record was driven largely by growth in Equity Index and Interest Rate products, up 26% and 23% respectively.
“Market participants across the globe turned to CME Group benchmark futures and options contracts given the heightened need for risk management across every asset class last year,” said Derek Sammann, CME Group Senior Managing Director and Global Head of Commodities, Options & International Markets. “As uncertain market conditions continue into 2024, we remain committed to working closely with our clients outside of the U.S. to access our robust, regulated marketplace with round-the-clock liquidity.”
In 2023, Europe, Middle East and Africa ADV hit a record 4.9 million contracts, up 13% from 2022. This was driven by a 29% rise in Interest Rate products and a 26% increase in Agricultural products.
Latin America ADV grew to a record 176,000 contracts in 2023, up 11% from 2022. This was led by 28% growth in Foreign Exchange products, 27% growth in Interest Rate products, and 24% growth in Metals products in the region.
Asia Pacific ADV reached 1.6 million contracts in 2023. ADV of Interest Rate products in the region was up 5% year-on-year, hitting a record 689,000 contracts in 2023.
Canada ADV totaled 153,000 contracts in 2023, with ADV of Energy and Agricultural Products up 22% and 7% year-on-year respectively.
Globally, CME Group reported a record ADV of 24.4 million contracts in 2023, up 5% over 2022. This was largely driven by growth in Interest Rate ADV, up 16% to a record 12.5 million contracts, and Options ADV, up 23% to a record 5.1 million contracts.
