International derivatives marketplace CME Group Inc. (NASDAQ:CME) today reported financial results for the third quarter of 2024.
The company reported record revenue of $1.6 billion and operating income of $1.0 billion for the third quarter of 2024.
Net income was $913 million and diluted earnings per common share were $2.50. On an adjusted basis, net income was $977 million and diluted earnings per common share were $2.68.
“Q3 2024 was the best quarter in CME Group history, with records across volume, revenue, adjusted operating income, adjusted net income and adjusted earnings per share,” said Terry Duffy, Chairman and Chief Executive Officer, CME Group.
“This marks the second consecutive quarter of volume and open interest increases across every asset class. Our financial product volumes rose 28%, reflecting a 36% jump in interest rates to a record ADV of 14.9 million contracts. This was driven by a 35% rise in SOFR futures to a record ADV of 4.1 million contracts and 31% growth in Treasuries to a record ADV of 8.4 million contracts. In addition, our commodities volume was up 20%, options increased 27% and international ADV was a record 8.4 million contracts.”
Third-quarter 2024 ADV was a record 28.3 million contracts, including record non-U.S. ADV, with EMEA up 30% and Asia up 28% versus the same period last year.
Clearing and transaction fees revenue for third-quarter 2024 totalled $1.3 billion. The total average rate per contract was $0.666. Market data revenue totalled $178 million for third-quarter 2024.
As of September 30, 2024, the company had approximately $2.6 billion in cash (including $250 million deposited with Fixed Income Clearing Corporation, which is included in other current assets) and $3.4 billion of debt. The company paid dividends during the third quarter of approximately $419 million. The company has returned approximately $25.6 billion to shareholders in the form of dividends since the implementation of the variable dividend policy in early 2012.
