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CME Group Posts Record Volumes for February, Shares Gain
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Shares of CME Group Inc. (CME - Free Report) gained 1.3% in the last trading session after the company reported a record average daily volume (ADV) for February. ADV of record of 27.3 million contracts per day expanded 48% year over year. The company witnessed an increase in ADV across all the six product lines.
Options volume improved 29% year over year to average 6.1 million contracts per day with electronic options having soared 76% year over year and averaged at 3.8 million contracts per day.
Metals volume of 0.7 million contracts per day expanded 32% whereas Energy volume of 2.8 million contracts climbed 13%. Interest rate volume of 15.8 million contracts per day surged 50% while Foreign exchange volume improved 42% to about 1.1 million. Moreover, Agricultural volume of about 2 million contracts per day increased 29% year over year and Equity index volume of 4.9 million also skyrocketed 93%.
CME Group’s improving volumes are driven by a solid operating leverage, helping it maintain an enormous market share. The company holds about 90% market share of the global futures trading and clearing services. Expansion of futures products in the emerging markets plus an increase in non-transaction related opportunities and OTC offerings should continue to modestly improve the top line in the years ahead. Efforts to expand and cross-sell through strategic alliances, acquisitions, new product initiatives as well as global presence should also drive the stock.
Shares of CME Group have outperformed the industry in a year. While the stock has surged 42.5%, the industry has registered a 32.4% rise.
Recently, securities exchanges namely MarketAxess Holdings Ltd. (MKTX - Free Report) , Intercontinental Exchange, Inc. (ICE - Free Report) and Cboe Global Markets, Inc. (CBOE - Free Report) have reported respective February volumes.
While Cboe Global Markets’ ADV of 10.6 million contracts for the month soared nearly 44.5% year over year, Intercontinental Exchange’s average daily volume improved 15.8% year over year to 6.7 million contracts. Finally, MarketAxess has reported a trading volume of $157.8 billion during the period.
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CME Group Posts Record Volumes for February, Shares Gain
Shares of CME Group Inc. (CME - Free Report) gained 1.3% in the last trading session after the company reported a record average daily volume (ADV) for February. ADV of record of 27.3 million contracts per day expanded 48% year over year. The company witnessed an increase in ADV across all the six product lines.
Options volume improved 29% year over year to average 6.1 million contracts per day with electronic options having soared 76% year over year and averaged at 3.8 million contracts per day.
Metals volume of 0.7 million contracts per day expanded 32% whereas Energy volume of 2.8 million contracts climbed 13%. Interest rate volume of 15.8 million contracts per day surged 50% while Foreign exchange volume improved 42% to about 1.1 million. Moreover, Agricultural volume of about 2 million contracts per day increased 29% year over year and Equity index volume of 4.9 million also skyrocketed 93%.
CME Group’s improving volumes are driven by a solid operating leverage, helping it maintain an enormous market share. The company holds about 90% market share of the global futures trading and clearing services. Expansion of futures products in the emerging markets plus an increase in non-transaction related opportunities and OTC offerings should continue to modestly improve the top line in the years ahead. Efforts to expand and cross-sell through strategic alliances, acquisitions, new product initiatives as well as global presence should also drive the stock.
Shares of CME Group have outperformed the industry in a year. While the stock has surged 42.5%, the industry has registered a 32.4% rise.
CME Group carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recently, securities exchanges namely MarketAxess Holdings Ltd. (MKTX - Free Report) , Intercontinental Exchange, Inc. (ICE - Free Report) and Cboe Global Markets, Inc. (CBOE - Free Report) have reported respective February volumes.
While Cboe Global Markets’ ADV of 10.6 million contracts for the month soared nearly 44.5% year over year, Intercontinental Exchange’s average daily volume improved 15.8% year over year to 6.7 million contracts. Finally, MarketAxess has reported a trading volume of $157.8 billion during the period.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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