{"id":642272,"date":"2023-04-27T22:05:43","date_gmt":"2023-04-28T03:05:43","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/27\/flight-to-futures-pushes-cme-group-to-second-highest-quarterly-revenue\/"},"modified":"2023-04-27T22:05:43","modified_gmt":"2023-04-28T03:05:43","slug":"flight-to-futures-pushes-cme-group-to-second-highest-quarterly-revenue","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/27\/flight-to-futures-pushes-cme-group-to-second-highest-quarterly-revenue\/","title":{"rendered":"\u201cFlight to Futures\u201d Pushes CME Group to Second-Highest Quarterly Revenue"},"content":{"rendered":"
\n

The CME Group, a top derivatives
\nmarketplace, released its first quarter 2023 financial results on Wednesday,
\nreporting $1.4 billion in revenue for the period. The amount is the Group\u2019s
\nsecond-highest quarterly revenue, according to Terry Duffy, the Chairman and Chief Executive
\nOfficer.<\/p>\n

CME’s Revenue Grows in Q1<\/h2>\n

The revenue represents growth of 17% from the $1.2 billion the derivatives business generated during the last
\nquarter of 2022. Also, the Group reported total revenue of $5 billion last year<\/a>.<\/p>\n

Duffy attributed the new
\nquarterly revenue performance to \u201cflight to futures\u201d among global market
\nparticipants who sought to manage risks across asset classes during the period.
\nAdditionally, the development resulted in the Group\u2019s highest adjusted net income and
\nhighest adjusted earnings per share (EPS) ever, Duffy said.<\/p>\n

This is even as the CME Group
\nreported an operating income of $914 million and a net income of $884
\nmillion during the first three months of 2023. In addition, the
\nderivatives marketplace operator\u2019s diluted EPS came in at
\n$2.43 during the first quarter. <\/p>\n

CME Breaks Records in Q1<\/h2>\n

As a derivatives marketplace, the CME Group operates Globex, a platform for trading futures and options on
\nfutures; BrokerTec, a marketplace for fixed-income trading; and EBS, a portal
\nfor foreign exchange trading. In addition, the Group runs CME Clearing, a central
\ncounterparty clearing service.<\/p>\n

During the first quarter of 2023,
\nthe Group\u2019s total daily volume exceeded ’25 million contracts 28 times’. Moreover, the
\nChicago-based marketplace reported an average daily volume (ADV) of 26.9
\nmillion contracts during the period.<\/p>\n

In particular, the CME Group noted
\nthat its ADV in non-United States marketplaces touched down at 7.2 million contracts,
\naccounting for the second-highest quarterly ADV across Europe, Middle East and
\nAfrica (EMEA), Asia and Latin America. Finance Magnates<\/em> reported earlier that the Group saw its second-highest March and quarterly ADV<\/a> in March 2023 as the average daily volume grew 24% to 30.3 million
\ncontracts.<\/p>\n

Furthermore, the CME Group in its
\nlatest financial result reported a new single-day volume record of 66.3 million
\ncontracts on March 13. Again, the derivatives marketplace operator\u2019s
\nsingle-day volume of forex futures and options contracts earlier peaked at 3.15 million contracts<\/a> on March 8, 2023.<\/p>\n

\u201cOf particular note was our
\ndouble-digit growth in options and interest rate products, including the growth
\nin our SOFR derivatives complex, driven by ongoing Fed policy changes and
\nregional bank stress,\u201d Duffy explained, adding that the company expects “risk management will continue to be more important than ever.”<\/p>\n

FMA flags fraudulent broker; new FX pairs on Admirals; read today’s news nuggets<\/a>.<\/em><\/strong><\/p>\n<\/div>\n

\n

The CME Group, a top derivatives
\nmarketplace, released its first quarter 2023 financial results on Wednesday,
\nreporting $1.4 billion in revenue for the period. The amount is the Group\u2019s
\nsecond-highest quarterly revenue, according to Terry Duffy, the Chairman and Chief Executive
\nOfficer.<\/p>\n

CME’s Revenue Grows in Q1<\/h2>\n

The revenue represents growth of 17% from the $1.2 billion the derivatives business generated during the last
\nquarter of 2022. Also, the Group reported total revenue of $5 billion last year<\/a>.<\/p>\n

Duffy attributed the new
\nquarterly revenue performance to \u201cflight to futures\u201d among global market
\nparticipants who sought to manage risks across asset classes during the period.
\nAdditionally, the development resulted in the Group\u2019s highest adjusted net income and
\nhighest adjusted earnings per share (EPS) ever, Duffy said.<\/p>\n

This is even as the CME Group
\nreported an operating income of $914 million and a net income of $884
\nmillion during the first three months of 2023. In addition, the
\nderivatives marketplace operator\u2019s diluted EPS came in at
\n$2.43 during the first quarter. <\/p>\n

CME Breaks Records in Q1<\/h2>\n

As a derivatives marketplace, the CME Group operates Globex, a platform for trading futures and options on
\nfutures; BrokerTec, a marketplace for fixed-income trading; and EBS, a portal
\nfor foreign exchange trading. In addition, the Group runs CME Clearing, a central
\ncounterparty clearing service.<\/p>\n

During the first quarter of 2023,
\nthe Group\u2019s total daily volume exceeded ’25 million contracts 28 times’. Moreover, the
\nChicago-based marketplace reported an average daily volume (ADV) of 26.9
\nmillion contracts during the period.<\/p>\n

In particular, the CME Group noted
\nthat its ADV in non-United States marketplaces touched down at 7.2 million contracts,
\naccounting for the second-highest quarterly ADV across Europe, Middle East and
\nAfrica (EMEA), Asia and Latin America. Finance Magnates<\/em> reported earlier that the Group saw its second-highest March and quarterly ADV<\/a> in March 2023 as the average daily volume grew 24% to 30.3 million
\ncontracts.<\/p>\n

Furthermore, the CME Group in its
\nlatest financial result reported a new single-day volume record of 66.3 million
\ncontracts on March 13. Again, the derivatives marketplace operator\u2019s
\nsingle-day volume of forex futures and options contracts earlier peaked at 3.15 million contracts<\/a> on March 8, 2023.<\/p>\n

\u201cOf particular note was our
\ndouble-digit growth in options and interest rate products, including the growth
\nin our SOFR derivatives complex, driven by ongoing Fed policy changes and
\nregional bank stress,\u201d Duffy explained, adding that the company expects “risk management will continue to be more important than ever.”<\/p>\n

FMA flags fraudulent broker; new FX pairs on Admirals; read today’s news nuggets<\/a>.<\/em><\/strong><\/p>\n<\/div>\n

Read More<\/a>
\n Solomon Oladipupo<\/p>\n","protected":false},"excerpt":{"rendered":"

The CME Group, a top derivatives marketplace, released its first quarter 2023 financial results on Wednesday, reporting $1.4 billion in revenue for the period. The amount is the Group\u2019s second-highest quarterly revenue, according to Terry Duffy, the Chairman and Chief Executive Officer.CME’s Revenue Grows in Q1The revenue represents growth of 17% from the $1.2 billion<\/p>\n","protected":false},"author":1,"featured_media":642273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4246,22254],"tags":[],"class_list":{"0":"post-642272","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-flight","8":"category-futures"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/642272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=642272"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/642272\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/642273"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=642272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=642272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=642272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}