CME Group Sees Higher FX Volumes

FX volumes at CME Group remain at recent elevated levels, with both the OTC and futures and options franchises seeing a year-on-year rise.

CME’s FX futures and options saw $108 billion notional in average daily volume (ADV) in June, up 3.8% year-on-year, and significantly up on May as a roll month. The rise was led by AUD, CAD, MXN and CHF, AUD ADV was $9 billion, which is up 25%, while CAD ADSV was $8.1 billion, up 18%. CHF ADV was $6.3 billion (+20%) and MXN $3 billion (+62%).

The Merc also saw monthly record open interest of 3.9 million contracts, with a value of $381 billion), 3 million of these contracts were in futures, with records in JPY ($38 billion), GBP ($25 billion), CHF ($19 billion) and NZD ($7 billion).

Although it does not provide exact numbers, CME says FX options volume was up 11% year-on-year, adding that average daily open interest exceeded $100 billion throughout the second quarter. FX Link ADV was also strong at $5.6 billion per leg, this is +36.6% from May and +43.4% year-on-year.

EBS ADV was actually flat in June compared to May, at $68 billion per day, this is up 6.3% year-on-year, however. Also flat was the G5 CVOL Index, which averaged 6.4 in June, the same as May. In June 2024 it was 7.06.