International derivatives market The CME Group announced today that its quarterly international average daily volume (ADV) reached a record 7.8 million contracts in the second quarter of 2024, an increase of 23% year-on-year.
Reflecting all trading reported outside the United States, record volume came from growth across all asset classes, with the highest trading volumes coming from fixed income and equity products. Commodities saw strong growth, with metals up 50%, energy up 40% and agricultural products up 25%.
“Market conditions in the second quarter of the year continued to create an increased need for risk management as clients worldwide turned to CME Group markets to address continued uncertainty and volatility,” said Julie Winkler, Senior Managing Director and Chief Commercial Officer, CME Group. “Our record second quarter international ADV was driven by significant volume increases across all asset classes in EMEA and APAC, demonstrating how our clients are turning to our products to hedge against price risk.”
In the second quarter of 2024, EMEA ADV set a record 5.8 million contracts, up 28% from the second quarter of 2023. FX and fixed income products set new records in the second quarter of 2024, up 27% and 26% respectively from year to year. Commodities in the region also posted record quarterly ADVs, with energy, metals and agricultural commodities rising 54%, 45% and 33% respectively, compared to the same period in 2023.
APAC ADV reached 1.7 million contracts in the second quarter of 2024. The region saw a strong quarterly ADV performance in metals, up 62%, while agricultural ADV was up 14% year-on-year.
LatAm ADV reached 182,000 contracts in Q2 2024, up 8% compared to Q2 2023. Metals and FX both set record quarterly ADV in the region in Q2 2024, up 84 % and 41% respectively on an annual basis.
Canada ADV totaled 162,000 contracts in Q2 2024, an 11% increase compared to Q2 2023. This was driven by strong growth in energy and fixed income products, up 32% and 14% year-over-year.