Second-quarter numbers were down 9% from a record number of contracts of nearly a million per day in the first quarter of 2018.
North America's largest financial derivatives market, CME Group Inc, released its earnings report for the second quarter of 2018, sharing trading statistics for three key business segments. The latest figures ($18.4 million in average contracts per day) show a significant decline in average daily trading volumes compared to the first quarter ($22.2 million in contracts per day), which was caused by many factors that negatively impacted the market last quarter.
Like other exchanges, CME made the majority of its profits in the first quarter, when the cryptocurrency market, as well as commodities markets, boomed following the rise in the price of digital currencies in December.
However, if you look at it On an annual basis, the second quarter of 2018 was 12 percent more profitable for the CME Group than the second quarter of 2017.
This growth was driven by high interest rates (+12.0% per year), as well as a large number of contracts concluded per day (674,000, up 27% from the second quarter of 2017).
CME, owner of the Chicago Board of Trade, said that Average daily foreign exchange volume also increased by 12% year over year, with 1 million foreign exchange contracts entered into in the second quarter. These figures are 9% less than the record 1.1 million contracts in the first quarter of 2018.
CME develops cryptocurrency and non-trading services such as market data and information services. The company recently announced plans to launch a real-time listing price for Ethereum.
Earlier in May, CME Group acquired London-based fintech firm NEX for £3.80 billion ($5.35) billion).
According to financemagnates.com
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