September average daily volume also reached a
record 6,118 contracts
CHICAGO, Oct. 9, 2023
/PRNewswire/ -- CME Group, the world's leading derivatives
marketplace, today announced that participation in its global
Aluminum futures contract continues to accelerate, recently
achieving record volume for the sixth consecutive quarter and the
month of September. Average daily volume (ADV) in the third quarter
was a record 4,656 contracts, up 98% from last year, while ADV in
September was a record 6,118 contracts, up 132% from last year.
Average daily open interest (ADOI) in Q3 also grew 267% from last
year.
"We are seeing strong client interest and support for our global
Aluminum contract, which continues to hit new milestones," said
Jin Hennig, Managing Director and
Global Head of Metals at CME Group. "In addition to record volume
in Q3 and September, we have seen back to back record volume days
in October, and multiple trading days where over 10,000 contracts
have traded. We are proud of the significant progress we have made
to create an alternative aluminum market, while also growing our
entire industrial metals business."
"CME Group continues to build a strong presence in industrial
metals, which is evident by the steadily increasing demand for its
Aluminum markets," said Jonathan
Tulkoff, Founding Partner and Portfolio Manager at Commodity
Asset Management. "We appreciate all of the benefits that come with
transacting with CME Group, including capital efficiencies,
customer protections and well understood market controls. We look
forward to expanding our participation in their markets moving
forward."
"We appreciate the tremendous work that CME Group has done to
create a more robust, alternative aluminum market, which benefits
the entire industry," said Brian
Hesse, CEO of PerenniAL Aluminum. "Based on the growing
demand and acceptance, we will offer a CME Group Aluminum price
reference in our 2024 contracts. This will allow us to provide more
transparent and well-regulated pricing to our clients."
"We have been closely monitoring the growth of CME Group
Aluminum markets, and these latest milestones align with the launch
of our USCF Aluminum Strategy Fund (ALUM), which will invest in CME
Group Aluminum contracts," said John
Love, President & CEO of USCF Investments. "Investors
are increasingly looking for exposure to aluminum and other
critical energy transition metals. We applaud CME Group for their
commitment to growing their industrial metals markets and providing
more opportunities for investors around the world."
CME Group's industrial metals business continues to grow
alongside aluminum as investors increasingly value the reliability
and efficiency of CME Group markets.
- Copper options ADV and ADOI year-to-date through September
was the highest on record at 6,309 and 113,092 contracts
respectively.
- Copper futures ADV year-to-date through September was up
25%.
- Cobalt futures ADV year-to-date through September was up
174%.
- September was a record month for Lithium Hydroxide futures,
with over 3,200 contracts traded and open interest surpassing 7,000
contracts for the first time.
Aluminum (ALI) futures are listed by and subject to the rules of
COMEX. For more information, please visit
www.cmegroup.com/aluminum.
As the world's leading derivatives marketplace, CME Group
(www.cmegroup.com) enables clients to trade futures, options, cash
and OTC markets, optimize portfolios, and analyze data – empowering
market participants worldwide to efficiently manage risk and
capture opportunities. CME Group exchanges offer the widest range
of global benchmark products across all major asset classes based
on interest rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe
LTD and EBS Group LTD, respectively. The S&P 500 Index is a
product of S&P Dow Jones Indices LLC ("S&P DJI").
"S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are
trademarks of Standard & Poor's Financial Services LLC; Dow
Jones®, DJIA® and Dow Jones Industrial Average are service and/or
trademarks of Dow Jones Trademark Holdings LLC. These trademarks
have been licensed for use by Chicago Mercantile Exchange Inc.
Futures contracts based on the S&P 500 Index are not sponsored,
endorsed, marketed, or promoted by S&P DJI, and S&P DJI
makes no representation regarding the advisability of investing in
such products. All other trademarks are the property of their
respective owners.
CME-G
View original
content:https://www.prnewswire.com/news-releases/cme-group-reports-sixth-consecutive-record-quarter-for-aluminum-futures-volume-301949258.html
SOURCE CME Group