CME Group’s foreign exchange (FX) trading volumes surged in 2024, reflecting a 10% increase in international markets, driven by heightened global economic uncertainty and market volatility. The world’s largest derivatives exchange reported a record performance in FX trading, which was a key contributor to its overall success in the year.
Latin America Leads FX Growth
The exchange saw particularly robust performance in Latin America, where FX trading volumes soared by 19% compared to 2023. This growth highlights the increasing demand for currency risk management tools in emerging markets, as businesses and investors seek to hedge against ongoing economic and geopolitical instability.
“We were especially pleased to see so many clients outside the U.S. turning to CME Group to access the markets and trade products they needed to navigate through ongoing economic and geopolitical uncertainty last year,” said Julie Winkler, Senior Managing Director and Chief Commercial Officer at CME Group. “Looking ahead, risk management will remain essential in 2025, and we are focused on helping our clients to manage risk and unlock opportunities.”
Solid Growth Across Global Markets
In addition to Latin America, CME’s European, Middle Eastern, and African (EMEA) markets recorded a 12% increase in FX trading activity. Meanwhile, the Asia-Pacific region experienced more modest growth at 3%. These figures reflect the global nature of demand for CME Group’s FX products, as international clients seek to mitigate currency risks in an unpredictable market environment.
Earlier in January, CME Group reported a record for average daily FX volume (ADV), which increased by 8% to 1 million contracts. This was highlighted by strong performances in several key currency futures, including Japanese Yen (182,000 contracts), Canadian Dollar (101,000 contracts), and Mexican Peso (73,000 contracts). These figures underscored the growing reliance on CME’s FX products for managing currency exposure.
International Volume Reaches New Heights
As part of this broader success, CME Group’s international ADV reached an all-time high of 7.8 million contracts in 2024, marking a 14% increase from the previous year. The exchange’s overall global ADV also grew by 9%, reaching 26.5 million contracts in 2024.
This strong performance in FX trading was part of a broader growth story for CME Group, which saw substantial expansion across its entire product suite, including interest rates, metals, and agricultural commodities.
Record-Breaking Financial Results
While CME Group has yet to release its full financial results for Q4 and 2024, the exchange reported impressive numbers for the third quarter. Net income exceeded $910 million, and revenues reached $1.6 billion, marking a historic quarter for the company. “Q3 2024 was the best quarter in CME Group history, with records across volume, revenue, adjusted operating income, adjusted net income, and adjusted earnings per share,” said Terry Duffy, Chairman and CEO of CME Group.
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