CME Group Scoring High With Aluminum Futures Contracts: Here's Details

CME Group Inc CME disclosed a higher volume growth for the sixth consecutive quarter (including September) on a continued strong surge in participation in its global Aluminum futures contract.

In Q3, the company witnessed a significant increase in the average daily trading volume (ADV), rising 98% Y/Y to 4,656 contracts. 

In September, ADV reached a new high of 6,118 contracts, growing 132% Y/Y. Moreover, in Q3, the average daily open interest (ADOI) in Q3 rocketed 267% Y/Y.

"We are seeing strong client interest and support for our global Aluminum contract, which continues to hit new milestones. 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," said Jin Hennig, Managing Director and Global Head of Metals.

On the other hand, CME's industrial metals sector is also showing growth, with a notable acceleration in copper futures.

For the year-to-date through September, Copper options reached an all-time high ADV of 6,309 contracts and an ADOI of 113,092 contracts.

Also, Copper futures witnessed a 25% increase in ADV, and Cobalt futures' ADV escalated 174% year-to-date through September.

On the other hand, Lithium Hydroxide futures saw over 3,200 traded contracts and open interest surpassed 7,000 contracts in September for the first time.

Last week, the company disclosed reaching an ADV of 22.7 million contracts last month, its second-highest record September ADV.

Price Action: CME shares closed higher by 2.18% at $211.93 on Friday.