UPDATE: CME February Daily Trading Volume Down 13% Over Strong Year Ago

CME Group Inc.'s (CME) daily trading volume fell 13% in February over the year-earlier period that hosted particularly strong trading volume due to a wave of unrest in the Middle East and North Africa.

Daily volume at the world's largest futures market operator averaged 12.8 million contracts last month, down from February 2011 although up 10% from January.

Daily volume for interest-rate futures, its largest product by that metric, averaged roughly 6 million contracts a day in February, down 19% from a year earlier and up 15% from January. Equity index volume declined 14% and 1.2%, respectively.

CME has in recent months worked to rebuild confidence in its operations after facing criticism for its handling of the failure last year of MF Global Holdings (MFGLQ), one of the largest brokers on its markets.

Daily volume at competitor IntercontinentalExchange Inc. (ICE) averaged 1.7 million contracts in February, down 4% from a year earlier and up 12% from January.

Its largest product, Brent crude futures and options, posted an 8.9% increase in daily volume over the year earlier while rising 10% from January. Volume in West Texas Intermediate crude futures and options slumped 38% from February 2011 but rose 18% from January.

Fourth-quarter earnings at ICE rose 28% as solid trading volume in the exchange operator's futures contracts and over-the-counter energy business boosted revenue.

Class A shares of CME closed Thursday at $289.54 and were inactive in premarket trade. Shares of ICE closed at $139.80 and were also inactive premarket.

-By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com

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