CME Group’s March volume averaged 10.8 million contracts per day, continuing to trend up from the beginning of the year, though down 30% from March 2008.
Total volume was 238 million contracts for March, of which 81% was traded electronically. Electronic volume averaged 8.8 million contracts per day, down 29% from the prior March. First-quarter 2009 volume averaged 10.4 million contracts per day, in line with fourth-quarter 2008 average daily volume, but down 33% compared with first-quarter 2008.
Average daily volume cleared through CME ClearPort was 587,000 contracts for the month, up 15% compared with March 2008.
The PJM daily electricity swap futures contracts, which have an average rate per contract of approximately 10 cents, accounted for approximately 14% of the total volume cleared through CME ClearPort in March and approximately 20% in first-quarter 2009. Daily volume cleared through CME ClearPort averaged 629,000 contracts a day in first-quarter 2009, up 33% from the same period last year.
L.D.