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CME Group (CME) Q3, September Volumes Up in Two Product Lines
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CME Group Inc. (CME - Free Report) reported decent average daily volume (ADV) for the third quarter and September 2021. ADV of 17.8 million contracts per day improved 14% year over year in the third quarter due to increased volumes in two of the six product lines. There were 64 trading days in the third quarter of this year.
Interest rate volume of 8.1 million contracts per day increased 53%. Energy volume of about 2.2 million contracts increased 18% year over year. Equity index volume of nearly 5.1 million contracts per day fell 6%. Foreign exchange volumes decreased 6% to about 0.8 million contracts per day. Metals volume of 1.1 million contracts per day dropped 17%. Agricultural volume of 1.1 million contracts per day decreased 42%.
CME Group boasts about 90% market share of the global futures trading and clearing services, which in turn should help it retain the growth momentum. Expansion of futures products in emerging markets, non-transaction-related opportunities and over-the-counter offerings should add to the upside. Increasing electronic trading volume adds scalability and hence leverage to CME Group’s operating model.
Concurrently, this largest futures exchange in the world in terms of trading volume as well as notional value traded reported ADV of 18.8 million contracts for September. ADV improved 11%, attributable to higher volumes in two product lines. Interest rate and Energy volumes exhibited improvement while Equities, Agricultural, Metals, and Foreign Exchange volumes declined.
Shares of CME Group have gained 6.9% compared with the industry’s increase of 11.3%. Its solid fundamentals will likely help the stock retain its growth momentum.
Image Source: Zacks Investment Research
CME Group currently carries a Zacks Rank #4 (Sell).
Image: Bigstock
CME Group (CME) Q3, September Volumes Up in Two Product Lines
CME Group Inc. (CME - Free Report) reported decent average daily volume (ADV) for the third quarter and September 2021. ADV of 17.8 million contracts per day improved 14% year over year in the third quarter due to increased volumes in two of the six product lines. There were 64 trading days in the third quarter of this year.
Interest rate volume of 8.1 million contracts per day increased 53%. Energy volume of about 2.2 million contracts increased 18% year over year. Equity index volume of nearly 5.1 million contracts per day fell 6%. Foreign exchange volumes decreased 6% to about 0.8 million contracts per day. Metals volume of 1.1 million contracts per day dropped 17%. Agricultural volume of 1.1 million contracts per day decreased 42%.
CME Group boasts about 90% market share of the global futures trading and clearing services, which in turn should help it retain the growth momentum. Expansion of futures products in emerging markets, non-transaction-related opportunities and over-the-counter offerings should add to the upside. Increasing electronic trading volume adds scalability and hence leverage to CME Group’s operating model.
Concurrently, this largest futures exchange in the world in terms of trading volume as well as notional value traded reported ADV of 18.8 million contracts for September. ADV improved 11%, attributable to higher volumes in two product lines. Interest rate and Energy volumes exhibited improvement while Equities, Agricultural, Metals, and Foreign Exchange volumes declined.
Shares of CME Group have gained 6.9% compared with the industry’s increase of 11.3%. Its solid fundamentals will likely help the stock retain its growth momentum.
CME Group currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked stocks from the same space are OTC Markets Group (OTCM - Free Report) , Cboe Global Markets (CBOE - Free Report) and Nasdaq (NDAQ - Free Report) .
OTC Markets Group delivered 47.50% earnings surprise in the last reported quarter. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cboe Global delivered a 2.22% earnings surprise in the last reported quarter. It carries a Zacks Rank #2 (Buy).
Nasdaq delivered a 9.83% earnings surprise in the last reported quarter. It carries a Zacks Rank #2.