CME Group FX Volumes Mixed in October

As was the case with the first group of FX venues to report volume data, CME Group’s FX businesses saw a decline in October from September, but were comfortably up year-on-year.

FX futures and options average daily volume (ADV) in notional terms was $82 billion, down from the quarter-end month in September, but up 20.6% year-on-year. This included a record month for BRL futures at $1.7 billion, driven in turn by a record day following the Brazilian election when $9.2 billion traded, $2.5 billion before the opening of the onshore market.

CME says it also saw healthy gains in EUR (+30% to $31 billion), CAD (+39% to $6.1 billion), CHF (+21% to $4.8 billion), and NZD (+30% to $2.1 billion). Alongside the record in BRL, the Merc also saw MXN ADV rise 96% to $2.3 billion. It also had new highs for monthly open interest in CAD ($26 billion), BRL ($2.7 billion) and SEK ($1.4 billion).

FX options ADV rose 22% from an undisclosed number, driven by gains in EUR, CHF and GBP, while open interest averaged $100 billion in notional terms during the month. FX Link, meanwhile traded $5.9 billion per day, again down on the quarter end, but up 31% year-on-year.

Meanwhile, EBS ADV across products was $68.4 billion. This is down 5% from September, which is slightly less of a drop seen by other venues with the exception of 360T, and is up 14.6% year-on-year. CME’s G5 CVOL Index averaged 7.07 in October, the highest it has been since April 2026 and up from 6.2 in September.