CHICAGO, Sept. 16,
2022 /PRNewswire/ -- CME Group, the world's leading
derivatives marketplace, today announced that Aluminum Futures
average daily volume is up 359% in Q3 to-date from Q1, reaching a
record single-day volume of 6,709 contracts on Wednesday, September 14, 2022.
"We have seen an increase in demand from aluminum participants
to enhance liquidity and create a more robust alternative market,"
said Jin Chang, Managing Director
and Global Head of Metals at CME Group. "We are pleased with the
incremental strides we have made in growing our global Aluminum
Futures, with average daily volume of approximately 3,700 contracts
so far in September and open interest of approximately 1,000
contracts. We welcome our new clients and look forward to helping
them manage their price risk more efficiently."
"Participation in CME Group's aluminum futures market has grown
considerably this year, offering manufacturers and distributors
another viable tool to manage their exposure to aluminum prices,"
said Andy Massey, Vice President of
Metals, Procurement and Transportation of U.S.-based Bonnell
Aluminum. "Bonnell Aluminum has recently begun using CME Group
contracts as a hedging tool to manage underlying aluminum price
risk, and we will also be referencing CME Group's Aluminum Futures
prices in our 2023 contracts for critical infrastructure markets.
We appreciate the efforts by CME Group to further build these
markets for the long-term health of our industry."
"Capital markets can effectively serve investors of all
backgrounds when they provide them with a diverse toolkit of
solutions that can manage risk, expand existing liquidity and offer
more choices for achieving investment goals and objectives," said
Hubert De Jesus, Managing Director,
Global Head of Market Structure and Electronic Trading,
BlackRock.
"CME Group provides efficient and orderly markets, which market
participants depend on to manage their risk effectively," said
Steven List, Managing Director of
Trading at AlphaSimplex. "The recent growth in CME Group's Aluminum
markets is a key milestone, offering more sources of liquidity to
metals markets participants."
All 25 of the top 25 Aluminum Futures volume days have occurred
since April of this year, with nearly 150 new accounts trading
since May. Aluminum Futures (Product Code: ALI) are listed by and
subject to the rules of COMEX. For more information, please visit
here.
About CME Group
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. Dow Jones, Dow Jones
Industrial Average, S&P 500 and S&P are service and/or
trademarks of Dow Jones Trademark Holdings LLC, Standard &
Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as
the case may be, and have been licensed for use by Chicago
Mercantile Exchange Inc. All other trademarks are the property of
their respective owners.
CME-G
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SOURCE CME Group