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CME Witnesses Continued Electronic Growth

Electronically traded currency futures contracts on the Chicago Mercantile Exchange (CME) have been setting consecutive daily volume records throughout May. The exchange recorded a volume of 20,280 currency futures contracts on 23 May, representing a 6% increase on the previous record of 19,171, set on 16 May. This figure itself was a 6% increase on the previous record, set in October 1998.

The May trend follows a strong April performance, when 222,562 currency futures contracts traded over Globex2, a 28% increase on the record set the previous month.

The results add to a string of good figures forthe exchange’s electronic activities, following its move to side-by-side, simultaneous electronic and open outcry, trading (see Profit & Loss, May 2001). Trading on the CME’s electronic Globex2 platform has risen steadily between January and April, from 15% to 21% as a proportion of the exchange’s total volumes.

Total currency futures and options volume during April rose 7% year on year, achieving 1,392,430. Combined currency futures volume rose from 1,206,666 in April 2000 to 1,279,062 in April 2001. Options on currency futures volume rose 18% year on year, from 96,041 to 113,368 contracts.

Profit & Loss

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