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CME Group: August Volume Down 32% From 2007

00:00AM Sep 03, 2008 Editors

Trading activity for the CME Group averaged 11.0 million contracts/day for the month of August, down 32 percent from last year when trading hit a record high due to the onset of the subprime lending crisis and the ensuing impact on global financial markets, CME Group announced Wednesday.

Total monthly volume for the CME Group, which owns the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT) and the New York Mercantile Exchange (NYMEX) was tallied at 231 million contracts, of which 80 percent was traded electonically, according to a CME Group statement.

On a combined basis, CME Group year-to-date 2008 volume through August averaged 13.6 million contracts per day, up 9 percent from the same period last year.

At the CME and CBOT where agricultural futures such as livestock and grains are traded, open outcry trades numbered 1.339 million contracts, down 58 percent from last year, while electronic volume was recorded at 7.833 million contracts, down 31 percent, according to the report. Seasonally, August typically sees lower trading activity compared with other months, CME Group stated.

Read full report here.