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CME Group (CME) Q2 Volumes Increase Y/Y in Four Product Lines
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CME Group Inc. (CME - Free Report) reported decent average daily volume (ADV) for the second quarter and June 2021. ADV of 18.4 million contracts per day improved 5% year over year in the second quarter due to increased volumes in four of the six product lines. There were 63 trading days in the second quarter of this year.
Interest rate volume of 8.8 million contracts per day increased 25%, while Foreign exchange volumes increased 6% to about 0.8 million contracts per day. Metals volume of 0.6 million contracts per day grew 9%. Moreover, Agricultural volume of 1.6 million contracts per day increased 24%. However, Energy volume of about 2 million contracts declined 24% year over year while Equity index volume of nearly 5 million contracts per day fell 12%.
CME Group boasts about 90% market share of the global futures trading and clearing services, which in turn should help it retain the growth momentum. Expansion of futures products in emerging markets, non-transaction related opportunities and over-the-counter offerings should add to the upside. Increasing electronic trading volume adds scalability and hence leverage to CME Group’s operating model.
Concurrently, this Zacks Rank #3 (Hold) largest futures exchange in the world in terms of trading volume as well as notional value traded reported of ADV 18.4 million contracts for June. ADV improved 7%, attributable to higher volumes in four product lines. Interest rate, Energy, Agricultural and Metals volumes exhibited improvement while Equities and Foreign exchange volumes declined.
Shares of CME Group have gained 4.1% compared with the industry’s increase of 9.5%. Its solid fundamentals will likely help the stock retain its growth momentum.
Cboe Global delivered 10.07% earnings surprise in the last reported quarter.
OTC Markets Group delivered 46.15% earnings surprise in the last reported quarter.
Cincinnati Financial delivered 30.48% earnings surprise in the last reported quarter.
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CME Group (CME) Q2 Volumes Increase Y/Y in Four Product Lines
CME Group Inc. (CME - Free Report) reported decent average daily volume (ADV) for the second quarter and June 2021. ADV of 18.4 million contracts per day improved 5% year over year in the second quarter due to increased volumes in four of the six product lines. There were 63 trading days in the second quarter of this year.
Interest rate volume of 8.8 million contracts per day increased 25%, while Foreign exchange volumes increased 6% to about 0.8 million contracts per day. Metals volume of 0.6 million contracts per day grew 9%. Moreover, Agricultural volume of 1.6 million contracts per day increased 24%. However, Energy volume of about 2 million contracts declined 24% year over year while Equity index volume of nearly 5 million contracts per day fell 12%.
CME Group boasts about 90% market share of the global futures trading and clearing services, which in turn should help it retain the growth momentum. Expansion of futures products in emerging markets, non-transaction related opportunities and over-the-counter offerings should add to the upside. Increasing electronic trading volume adds scalability and hence leverage to CME Group’s operating model.
Concurrently, this Zacks Rank #3 (Hold) largest futures exchange in the world in terms of trading volume as well as notional value traded reported of ADV 18.4 million contracts for June. ADV improved 7%, attributable to higher volumes in four product lines. Interest rate, Energy, Agricultural and Metals volumes exhibited improvement while Equities and Foreign exchange volumes declined.
Shares of CME Group have gained 4.1% compared with the industry’s increase of 9.5%. Its solid fundamentals will likely help the stock retain its growth momentum.
Stocks to Consider
Some better-ranked stocks from the same space are Cboe Global Markets (CBOE - Free Report) , OTC Markets Group (OTCM - Free Report) , and Cincinnati Financial Corporation (CINF - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cboe Global delivered 10.07% earnings surprise in the last reported quarter.
OTC Markets Group delivered 46.15% earnings surprise in the last reported quarter.
Cincinnati Financial delivered 30.48% earnings surprise in the last reported quarter.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>