CME Group Posts Seventh Consecutive Year of Record Volume on a Combined Basis as Total Volume Approached 2.8 Billion Contracts;
January 02 2008 - 9:18AM
PR Newswire (US)
- Combined annual volume growth exceeded 20 percent for the seventh
straight year CHICAGO, Jan. 2 /PRNewswire-FirstCall/ -- CME Group,
the world's largest and most diverse exchange, today posted total
annual volume during 2007 of nearly 2.8 billion contracts,
achieving record volume growth for the seventh consecutive year on
a combined basis. The company achieved combined annual volume
growth exceeding 20 percent for the seventh straight year and the
largest percentage growth year-over-year since 2002. Daily volume
in 2007 averaged 11.0 million contracts per day, up 28 percent from
2006. Total electronic volume averaged 8.5 million contracts per
day, up 41 percent from the prior year. Total options volume
averaged 2.0 million contracts per day, up 14 percent from 2006.
Electronic options volume averaged 288,000 contracts per day for
the year, up 46 percent. All CME Group major product lines have
achieved year-over-year growth above 20 percent for two consecutive
years. CME Group equity index products daily volume averaged 2.7
million contracts for the year, up 47 percent from 2006. Foreign
exchange products daily volume averaged 569,000 contracts in 2007,
up 26 percent from last year, and representing a notional value of
$71 billion. CME Group interest rates increased 23 percent versus
2006 to reach an average 6.9 million contracts per day and the
commodities and alternative investments product line grew 20
percent to average 766,000 contracts per day. NYMEX energy and
metals volume on the CME Globex platform tripled from 2006 to 2007
to average 757,000 contracts per day. All references to volume and
rate per contract information in the text of this document assume
combined legacy CME and legacy CBOT volumes and exclude our
non-traditional TRAKRS products, for which CME Group receives
significantly lower clearing fees than other CME Group products,
and Swapstream products. Fourth-Quarter Highlights Fourth-quarter
daily volume averaged 10.6 million contracts per day, up 23 percent
from the same period last year. Total electronic volume averaged
8.5 million contracts per day, up 34 percent from the
fourth-quarter 2006. Total electronic volume as a percentage of
total volume grew from 76 percent in the first-quarter 2007 to a
record 81 percent in the fourth-quarter 2007. CME Group equity
index product volume averaged 3.0 million contracts per day, up 61
percent from fourth-quarter 2006. Interest rate product volume
averaged 6.3 million contracts per day, up 15 percent from the same
period a year ago. CME Group foreign exchange product volume
increased 10 percent to average 561,000 contracts per day,
representing a notional value of $74 billion. Commodities and
alternative investments volume averaged 740,000 contracts per day,
down 1 percent versus the fourth-quarter 2006. NYMEX energy and
metals volume on the CME Globex platform in the fourth-quarter 2007
averaged a record 852,000 contracts per day, more than doubling the
average daily volume for the same period a year ago and
representing the sixth consecutive record quarter. December
Highlights December daily volume averaged 9.3 million contracts per
day, up 13 percent from the same period last year. Total electronic
volume averaged 7.4 million contracts per day, up 22 percent from
December 2006. CME Group E-mini equity index product volume posted
significant growth, increasing 53 percent versus the same period
last year to average 2.5 million contracts per day. The commodities
and alternative investments product line volume also demonstrated
strong growth, averaging 700,000 contracts per day for the month,
up 27 percent versus December 2006. CME GROUP ANNUAL AVERAGE DAILY
VOLUME (In thousands, average daily volume combined for entire
year) 2007 2006 Percent Change PRODUCT LINE Interest Rates 6,920
5,612 23% E-Minis 2,529 1,688 50% Equity Standard 186 163 14%
Foreign Exchange 569 453 26% Commodities and Alt. Inv.* 766 638 20%
Total 10,970 8,554 28% VENUE Open Outcry 2,283 2,369 -4% CME Globex
and e-CBOT 8,504 6,048 41% Privately Negotiated 183 137 33% *CME
Group Commodities and Alternative Investments product line includes
the legacy CME Commodities and Alternative Investments product line
and the legacy CBOT Agricultural product line and Metals, Energy
and Other product line. CME GROUP QUARTERLY AVERAGE DAILY VOLUME
(In thousands) Q4 2007 Q4 2006 Percent Change PRODUCT LINE Interest
Rates 6,290 5,470 15% E-Minis 2,817 1,700 66% Equity Standard 166
156 6% Foreign Exchange 561 508 10% Commodities and Alt. Inv.* 740
748 -1% Total 10,574 8,581 23% VENUE Open Outcry 1,876 2,106 -11%
CME Globex and e-CBOT 8,528 6,342 34% Privately Negotiated 169 133
27% CME GROUP MONTHLY AVERAGE DAILY VOLUME (In thousands) December
2007 December 2006 Percent Change PRODUCT LINE Interest Rates 5,332
5,147 4% E-Minis 2,520 1,644 53% Equity Standard 210 206 2% Foreign
Exchange 510 621 -18% Commodities and Alt. Inv.* 670 552 27% Total
9,271 8,170 13% VENUE Open Outcry 1,661 1,952 -15% CME Globex and
e-CBOT 7,409 6,076 22% Privately Negotiated 200 141 42% CME GROUP
ROLLING THREE-MONTH AVERAGES Average Rate Per Contract (In dollars,
and calculated from combined average daily volumes for entire
period) By Product Line By Venue Commod- 3-Month Inte- ities Priv-
Period rest Equity Foreign and Alt Open Elect- ately Ending Rates
E-Minis Standard Exchange Inv. Total Outcry ronic Negotiated Nov-07
0.523 0.671 1.442 0.972 1.070 0.636 0.503 0.623 3.050 Oct-07 0.520
0.663 1.454 0.956 1.056 0.623 0.474 0.618 2.906 Sep-07 0.519 0.673
1.451 0.951 1.032 0.622 0.473 0.613 2.878 Aug-07 0.517 0.677 1.397
0.981 1.040 0.624 0.474 0.612 2.876 Average Daily Volume (In
thousands, average daily volumes combined for entire period) By
Product Line By Venue Commod- 3-Month Inte- ities Priv- Period rest
Equity Foreign and Alt Open Elect- ately Ending Rates E-Minis
Standard Exchange Inv. Total Outcry ronic Negotiated Dec-07 6,290
2,817 166 561 740 10,574 1,876 8,528 169 Nov-07 6,847 2,395 173 599
744 11,298 2,149 8,979 169 Oct-07 7,500 3,019 190 601 694 12,004
2,488 9,330 186 Sep-07 8,060 3,057 202 635 716 12,670 2,652 9,806
212 CME Group (http://www.cmegroup.com/) is the world's largest and
most diverse exchange. Formed by the 2007 merger of the Chicago
Mercantile Exchange Holdings and CBOT Holdings, CME Group serves
the risk management needs of customers around the globe. As an
international marketplace, CME Group brings buyers and sellers
together on the CME Globex electronic trading platform and on its
trading floors. CME Group offers the widest range of benchmark
products available across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, agricultural commodities and alternative
investment products such as weather and real estate. CME Group's
Class A common stock is traded on the New York Stock Exchange and
the Nasdaq Global Select Market under the symbol "CME." The Globe
logo, CME, Chicago Mercantile Exchange, CME Group, Globex and
E-mini, are trademarks of Chicago Mercantile Exchange Inc. CBOT and
Chicago Board of Trade are trademarks of the Board of Trade of the
City of Chicago. All other trademarks are the property of their
respective owners. Further information about CME Group and its
products can be found at http://www.cmegroup.com/. Statements in
this news release that are not historical facts are forward-looking
statements. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that
are difficult to predict. Therefore, actual outcomes and results
may differ materially from what is expressed or implied in any
forward-looking statements. Among the factors that might affect our
performance are: our ability to successfully integrate the
businesses of CME Holdings and CBOT Holdings, including the fact
that such integration may be more difficult, time consuming or
costly than expected and revenues following the merger may be lower
than expected; increasing competition by foreign and domestic
entities, including increased competition from new entrants into
our markets and consolidation of existing entities; our ability to
keep pace with rapid technological developments, including our
ability to complete the development and implementation of the
enhanced functionality required by our customers; our ability to
continue introducing competitive new products and services on a
timely, cost-effective basis, including through our electronic
trading capabilities, and our ability to maintain the
competitiveness of our existing products and services; our ability
to adjust our fixed costs and expenses if our revenues decline; our
ability to continue to generate revenues from our processing
services provided to third parties; our ability to maintain
existing customers and attract new ones; our ability to expand and
offer our products in foreign jurisdictions; changes in domestic
and foreign regulations; changes in government policy, including
policies relating to common or directed clearing; the costs
associated with protecting our intellectual property rights and our
ability to operate our business without violating the intellectual
property rights of others; our ability to generate revenue from our
market data that may be reduced or eliminated by the growth of
electronic trading; changes in our rate per contract due to shifts
in the mix of the products traded, the trading venue and the mix of
customers (whether the customer receives member or non-member fees
or participates in one of our various incentive programs) and the
impact of our tiered pricing structure; the ability of our
financial safeguards package to adequately protect us from the
credit risks of clearing members; changes in price levels and
volatility in the derivatives markets and in underlying fixed
income, equity, foreign exchange and commodities markets; economic,
political and market conditions; our ability to accommodate
increases in trading volume and order transaction traffic without
failure or degradation of performance of our systems; our ability
to execute our growth strategy and maintain our growth effectively;
our ability to manage the risks and control the costs associated
with our acquisition, investment and alliance strategy; our ability
to continue to generate funds and/or manage our indebtedness to
allow us to continue to invest in our business; industry and
customer consolidation; decreases in trading and clearing activity;
the imposition of a transaction tax on futures and options on
futures transactions; and the seasonality of the futures business.
More detailed information about factors that may affect our
performance may be found in our filings with the Securities and
Exchange Commission, including our most recent Quarterly Report on
Form 10-Q, which is available in the Investor Relations section of
the CME Group Web site. We undertake no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future events or otherwise. CME-G DATASOURCE: CME
Group CONTACT: Media, Anita Liskey, +1-312-466-4613, or Allan
Schoenberg, +1-312-930-8189, both , or Investors, John Peschier,
+1-312-930-8491 Web site: http://www.cme.com/
http://www.cmegroup.mediaroom.com/
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