Highest-ever annual ADV of 5.5 million contracts also reached in 2023
FinTech BizNews Service
Mumbai, November 28, 2023: CME Group, the world's leading derivatives
marketplace, today announced that open interest in its deeply liquid U.S. Treasury
futures set a new record of 21,428,757 contracts on November 24.
This year, the notional value of open interest in CME Group U.S. Treasury futures
grew to $2.57 trillion, an increase of 50% year-over-year, as the average daily
volume (ADV) reached 5.5 million contracts, the highest annual level ever.
"Throughout 2023, we have seen record volume and open interest in our U.S.
Treasury futures, which offer market participants the most efficient and liquid
products to hedge risk across the yield curve," said Agha Mirza, CME Group Global
Head of Rates and OTC Products. "We are particularly pleased with the breadth of
our market's liquidity profile and overall participation, as measured by large open
interest holders in the CFTC's commitment of traders report. Amid our third
consecutive year of record ADV, this indicates the market will remain deeply liquid,
while it continues to enable record risk transfer."
CME Group delivers the market's leading electronic, central limit order book for every
tenor of U.S. Treasury futures, which trade side-by-side on the CME Globex platform
with BrokerTec cash securities. In addition, clients benefit from the flexibility of
privately negotiated transactions in the form of blocks, exchange for risk (EFR) and
exchange of futures for physical (EFP) agreements. Clients using these tools to
manage risk include sovereigns, banks, asset managers, hedge funds, principal
trading firms and other institutions.
U.S. Treasury futures receive margin offsets against existing CME Group Interest
Rate products, and are listed with, and subject to, the rules of CBOT. These
contracts are also eligible for portfolio margining against other cleared interest rate
swaps and futures.
