CME Group Inc. (CME - Free Report) reported solid average daily volume (ADV) for November 2018. The month recorded ADV of 21.7 million contracts per day, up 21% year over year. The company witnessed an increase in ADV in three of its six product lines. Options volume increased 4.3 million contracts per day, up 23% year over year.
Energy volume of 3.1 million contracts increased 16%. Interest rate volume of 12 million contracts per day rose 27% while Equity index volume of 3.7 million contracts per day increased 35%. However, Metals volume of 0.6 million contracts per day declined 17% whereas Foreign exchange volumes contracted 1% to 0.9 million contracts per day. Agricultural volume of 1.5 million contracts per day too registered a decline of 6% year over year.
Recently, securities exchange Nasdaq Inc. (NDAQ - Free Report) and MarketAxess Holdings Inc. (MKTX - Free Report) also posted November volumes. MarketAxess’ trading volume came in at $146.6 billion while Nasdaq reported options and futures volume of 153.4 million contracts for November.
Higher volumes at CME Group were driven by a solid operating leverage, which helped it maintain a solid market share of about 90% in global futures trading and clearing services. Expansion of futures products in the emerging markets plus an increase in non-transaction related opportunities as well as OTC offerings should continue to contribute modestly to its top-line growth in the years ahead.
Increasing electronic trading volume adds scalability and hence leverage to CME Group’s operating model. Efforts to expand and cross-sell through strategic alliances, acquisitions, new product initiatives and a strong global presence should also drive growth.
Shares of CME Group have outperformed the industry year to date. While the stock has rallied 28.8%, the industry has registered a 22.1% rise. CME Group currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Stock to Consider
Investors interested in securities and exchanges can look at Intercontinental Exchange Inc. (ICE - Free Report) , also carrying Zacks Rank #2.
Intercontinental Exchange operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It delivered a 6.25% positive surprise in the last reported quarter.
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CME Group Inc. (CME - Free Report) reported solid average daily volume (ADV) for November 2018. The month recorded ADV of 21.7 million contracts per day, up 21% year over year. The company witnessed an increase in ADV in three of its six product lines. Options volume increased 4.3 million contracts per day, up 23% year over year.
Energy volume of 3.1 million contracts increased 16%. Interest rate volume of 12 million contracts per day rose 27% while Equity index volume of 3.7 million contracts per day increased 35%. However, Metals volume of 0.6 million contracts per day declined 17% whereas Foreign exchange volumes contracted 1% to 0.9 million contracts per day. Agricultural volume of 1.5 million contracts per day too registered a decline of 6% year over year.
Recently, securities exchange Nasdaq Inc. (NDAQ - Free Report) and MarketAxess Holdings Inc. (MKTX - Free Report) also posted November volumes. MarketAxess’ trading volume came in at $146.6 billion while Nasdaq reported options and futures volume of 153.4 million contracts for November.
Higher volumes at CME Group were driven by a solid operating leverage, which helped it maintain a solid market share of about 90% in global futures trading and clearing services. Expansion of futures products in the emerging markets plus an increase in non-transaction related opportunities as well as OTC offerings should continue to contribute modestly to its top-line growth in the years ahead.
Increasing electronic trading volume adds scalability and hence leverage to CME Group’s operating model. Efforts to expand and cross-sell through strategic alliances, acquisitions, new product initiatives and a strong global presence should also drive growth.
Shares of CME Group have outperformed the industry year to date. While the stock has rallied 28.8%, the industry has registered a 22.1% rise. CME Group currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Stock to Consider
Investors interested in securities and exchanges can look at Intercontinental Exchange Inc. (ICE - Free Report) , also carrying Zacks Rank #2.
Intercontinental Exchange operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It delivered a 6.25% positive surprise in the last reported quarter.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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