CME Group’s EBS Spot FX ADNV Rises 12% YoY to $64.5 Billion in July

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The average daily notional value (ADNV) of spot forex traded on the Electronic Broking Services (EBS) of the Chicago Mercantile Exchange (CME) Group rose 12% year-on-year (YoY) to $64.5 billion in July.

This is contained in the market statistics of July 2022 released by CME Group on Tuesday.

The EBS is CME Group’s wholesale electronic trading platform for forex trading with market-making banks.

EBS’s spot forex ADNV jumped 7% YoY to $65.4 billion in June.

So, on a monthly basis (MoM), the July ADNV post from EBS spot forex is a decrease of -1.4% from June’s volume.

Meanwhile, CME Group data also shows that the main derivatives market recorded a forex average daily volume (ADV) of 959,000 contracts in July.

The group said its forex ADV increased 30% in July, with the E-mini Euro FX futures ADV increasing by 81%.

CME FX link

According to data shared with Financial Tycoonstotal forex volumes on CME FX Link, a spot forex service on CME Globex, jumped 46% YoY in July 2022.

The ADV jumped higher 75% year to date compared to the same period in 2021.

In June, CME FX Link volumes jumped 145% YoY.

CME Globex is CME Group’s electronic trading system that provides a range of tradable futures and options across all asset classes.

FX Futures and Options

According to CME Group, its total FX Futures ADV by contract terms increased by 32% with the Japanese Yen recording the highest increase at 60%.

Others followed in this order: Euro (43%), Swiss Franc (23%), Australian Dollar (21%), Mexican Peso (20%), Canadian Dollar (17%) and Great British Pound (14%).

On the other hand, total FX Options increased by 9% with the Japanese Yen, again, leading the way as it increased by 37%. Euro followed at 20% and Swiss franc at 10%.

Additionally, CME Group said CME Listed FX’s ADV in contract terms climbed 30% YoY in July.

CME Group explained, “Average open interest in CME Listed FX products grew by 18% year to date versus the same period in 2021.

“In July alone, average open interest in CME listed FX increased by 6% versus July 2021. Volumes in Blocks and exchange for related positions (EFRPs) of CME listed FX futures and options contracts were 106% year-to-date 2022 versus 2022. same period 2021 .”

Meanwhile, across the board, CME Group recorded a 20% increase in its ADV for July 2022 with 20.4 million contracts.

In this regard, the group said it saw a 40% increase in its Equity Index ADV, which was “driven by micro and E-mini contracts”.

It added that it saw a record secured overnight financial rate (SOFR) Options and futures opened interest on July 29.

“Another Strong Month”

Commenting on the figures, Paul Houston, the Global Head of FX at CME Group noted that based on insights from the CME Group Volatility Index “FX volatility expectations remain at elevated levels.”

“July was another strong month for Listed FX, building on positive momentum from some all-time records in June,” Houston explained.

He added, “Volume in both FX Futures and FX Options has seen double digit growth compared to this time last year, and our refined solution for FX Swaps, FX Link, continues to gain significant industry adoption.

The average daily notional value (ADNV) of spot forex traded on the Electronic Broking Services (EBS) of the Chicago Mercantile Exchange (CME) Group rose 12% year-on-year (YoY) to $64.5 billion in July.

This is contained in the market statistics of July 2022 released by CME Group on Tuesday.

The EBS is CME Group’s wholesale electronic trading platform for forex trading with market-making banks.

EBS’s spot forex ADNV jumped 7% YoY to $65.4 billion in June.

So, on a monthly basis (MoM), the July ADNV post from EBS spot forex is a decrease of -1.4% from June’s volume.

Meanwhile, CME Group data also shows that the main derivatives market recorded a forex average daily volume (ADV) of 959,000 contracts in July.

The group said its forex ADV increased 30% in July, with the E-mini Euro FX futures ADV increasing by 81%.

CME FX link

According to data shared with Financial Tycoonstotal forex volumes on CME FX Link, a spot forex service on CME Globex, jumped 46% YoY in July 2022.

The ADV jumped higher 75% year to date compared to the same period in 2021.

In June, CME FX Link volumes jumped 145% YoY.

CME Globex is CME Group’s electronic trading system that provides a range of tradable futures and options across all asset classes.

FX Futures and Options

According to CME Group, its total FX Futures ADV by contract terms increased by 32% with the Japanese Yen recording the highest increase at 60%.

Others followed in this order: Euro (43%), Swiss Franc (23%), Australian Dollar (21%), Mexican Peso (20%), Canadian Dollar (17%) and Great British Pound (14%).

On the other hand, total FX Options increased by 9% with the Japanese Yen, again, leading the way as it increased by 37%. Euro followed at 20% and Swiss franc at 10%.

Additionally, CME Group said CME Listed FX’s ADV in contract terms climbed 30% YoY in July.

CME Group explained, “Average open interest in CME Listed FX products grew by 18% year to date versus the same period in 2021.

“In July alone, average open interest in CME listed FX increased by 6% versus July 2021. Volumes in Blocks and exchange for related positions (EFRPs) of CME listed FX futures and options contracts were 106% year-to-date 2022 versus 2022. same period 2021 .”

Meanwhile, across the board, CME Group recorded a 20% increase in its ADV for July 2022 with 20.4 million contracts.

In this regard, the group said it saw a 40% increase in its Equity Index ADV, which was “driven by micro and E-mini contracts”.

It added that it saw a record secured overnight financial rate (SOFR) Options and futures opened interest on July 29.

“Another Strong Month”

Commenting on the figures, Paul Houston, the Global Head of FX at CME Group noted that based on insights from the CME Group Volatility Index “FX volatility expectations remain at elevated levels.”

“July was another strong month for Listed FX, building on positive momentum from some all-time records in June,” Houston explained.

He added, “Volume in both FX Futures and FX Options has seen double digit growth compared to this time last year, and our refined solution for FX Swaps, FX Link, continues to gain significant industry adoption.

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