CME Group, the world’s largest derivatives exchange, has revealed May 2008 volume averaged 10.6 million contracts per day, up 4% from May 2007.
Total volume exceeded 223 million contracts for the month, of which 82% was traded electronically. Total electronic volume increased 12% versus May 2007 to average 8.7 million contracts per day. Year-to-date 2008 volume through May averaged 12.3 million contracts per day, up 26% versus the same period last year, and second-quarter volume to date through May averaged 10.4 million contracts per day, up 15%.
CME Group E-mini equity index volume averaged 2.5 million contracts per day, up 29% compared with May 2007. CME Group foreign exchange (FX) volume averaged 621,000 contracts per day, up 29% from May 2007, and represented an average daily notional value traded of $88 billion, up 48% compared with the same period a year ago.
CME Group commodities and alternative investments volume averaged 751,000 contracts per day, up 14%. CME Group interest rate volume averaged 6.6 million contracts per day, down 6% from May 2007. The US Treasury complex saw a shift in volume to shorter duration instruments, with average daily volume for 2-year and 5-year Treasury note futures increasing more than 18%.
Thirty Day Fed Fund futures were the beneficiary of widening and volatile LIBOR spreads, with average daily volume increasing 126% from the same period last year and open interest reaching a record of more than 745,000 contracts on 28 May, partially offsetting slower activity in eurodollars.
Monthly NYMEX energy and metals volume on the CME Globex electronic trading platform increased 59% to average 1.1 million contracts per day.