CME Group's Record International ADV: A Reflection of Global Market Engagement

CME Group, the world's leading derivatives marketplace, has announced a record average daily volume (ADV) of 7.8 million contracts in 2024, marking a 14% increase from 2023. This impressive growth is a testament to the company's strategic focus on international expansion and the robust engagement of global market participants. Let's delve into the factors driving this remarkable performance.



Regional Performance: EMEA and APAC Lead the Way

The record international ADV was driven by exceptional performance in Europe, Middle East, and Africa (EMEA) and Asia Pacific (APAC) regions.

* EMEA ADV: Reached a record 5.8 million contracts in 2024, up 17% from 2023. This growth was fueled by new ADV records in Energy (up 40%), Agricultural (up 31%), Metals (up 24%), Interest Rate (up 14%), and Foreign Exchange products (up 12%) year on year.
* APAC ADV: Grew to an all-time high of 1.7 million contracts in 2024, up 7% from 2023. The region saw new ADV records in Agricultural (up 16%), as well as Interest Rate and Foreign Exchange products, both up 3%.

These regional performances highlight the strong European and Asian market engagement, likely influenced by ongoing geopolitical events and the need for risk management tools.

Asset Classes: Energy, Metals, and Agricultural Lead the Pack

Several asset classes experienced significant growth, contributing to the overall increase in international ADV.

* Energy: Energy ADV increased by 31% compared to 2023, driven by a 40% increase in EMEA volumes and a 26% increase in Canada volumes. This growth can be attributed to heightened volatility in energy markets and growing demand for risk management tools amid geopolitical tensions.
* Metals: Metals ADV grew by 27% in 2024, with a 24% increase in EMEA volumes and a 12% increase in APAC volumes. The surge in LatAm metals trading, up 42%, indicates growing commodity risk management needs in emerging markets.
* Agricultural: Agricultural ADV increased by 25% in 2024, with a 31% increase in EMEA volumes and a 16% increase in APAC volumes. This growth reflects increased engagement in agricultural markets, likely influenced by global food security concerns and price volatility.

These asset classes experienced significant growth due to various factors, including geopolitical tensions, global food security concerns, and persistent market uncertainty around monetary policy trajectories.

Interest Rate Derivatives: A Dominant Force

Interest Rate derivatives played a crucial role in driving the overall growth in international ADV, comprising over half of global ADV. This dominance points to persistent market uncertainty around monetary policy trajectories, as seen in the record annual U.S. Treasury futures and options ADV of 8.1 million contracts, record annual SOFR futures and options ADV of 5.2 million contracts, and record annual Interest Rate options ADV of 2.9 million contracts.

In conclusion, CME Group's record international ADV of 7.8 million contracts in 2024 reflects the global market's robust participation and increased hedging activity, particularly in response to geopolitical tensions and market uncertainties. The balanced growth across product categories, regional diversification, and the dominance of interest rate derivatives demonstrate CME's strong market position and validate its strategic focus on international expansion. As the world's leading derivatives marketplace, CME Group continues to empower market participants worldwide to efficiently manage risk and capture opportunities.