(Updates throughout with IntercontinentalExchange figures.)
CME Group Inc. (CME) and IntercontinentalExchange Inc. (ICE)
each posted surging volume in March, along with strong
first-quarter figures.
The companies have benefited of late from investors' increased
focus on unrest in the Middle East and North Africa. They have also
enjoyed traders' gradual return to the markets as the financial
crisis has receded further into the past.
Meanwhile, Nasdaq OMX Group Inc. (NDAQ) and ICE unveiled plans
Friday that could shake up the global exchange sector, teaming up
to offer $11.3 billion for NYSE Euronext Inc. (NYX). The
cash-and-stock offer would see Nasdaq OMX expand its franchise in
U.S. and European equity and options trading and boost ICE's
position in derivatives trading.
CME said Monday its daily trading volume jumped 31% in March
from a year earlier, to 14.4 million contracts. The level
represented a 2% decline from February. A record 85% of last
month's total 331 million contracts were traded electronically.
CME said daily volume for interest-rate futures, its biggest
product by that metric, climbed by a third from a year earlier to
6.6 million contracts a day. Commodities contract volume surged 60%
while energy saw a 20% gain.
For the first quarter, volume jumped 19% to 13.8 million
contracts a day, its second-highest quarterly volume ever.
ICE said its average daily volume in March rose 16% from a year
earlier to 1.49 million contracts, which was down 14% from
February. Its biggest product, Brent crude futures and options, saw
volume climb 21% year-over-year. Gasoil futures and options volume
was up 31% while WTI Crude saw an 18% increase.
First quarter volume jumped 24% to a record 1.6 million
contracts a day.
CME's class A shares closed Friday at $304.27 while ICE finished
at $119.75. Neither was active in recent premarket trading.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;
matthew.jarzemsky@dowjones.com