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CME Reports Record Volume in SOFR Futures, Crosses the Level of 2 Million Contracts

The SOFR futures surpassed the number of 2 million contacts this Thursday. There was a huge jump seen in the trading value.

CME Group announces rise in the trading value

The CME Group announced that they saw a sharp rise regarding the activity of the SOFR futures and options related to it. The highest single-day trading value was recorded by CME Group.

On 10th February there were more than 2 million contracts by the unit which was the highest record ever. The day became historical, and on the other hand, the trading activity seen on the platform was outstanding.

SOFR touched a high record number of 130,200 contracts

Even the SOFR option reached a huge record value of 130,200 contracts. The open interest increased and reached the huge value of 656,977 contracts.

The SOFR futures open interest record also saw a jump to 3.2 million contracts. Moreover, the day became historical to the unit and will be remembered for decades.

According to the Global Head of Rates and OTC Products of CME groups, Agha Mirza, Our SOFR options have grown, and we are open to more opportunities regarding new client investments. The growth has been exponential as clients are increasingly turning to our deep, liquid SOFR-based products to manage their risk. According to the reports by the company, they are getting more than 65,000 contracts per day.

The Record volumes are as a result of ADV

The record volumes of SOFR futures are all because of the steep rise in the ADV throughout the month of February. ADV stands for average daily volume, which has grown to a huge number of 946,794 contracts per day. The ADV of January was 731,126 contracts. It has kept growing since the end of 2021, and hence this has ultimately led to new records on SOFR futures.

Currently, the value of SOFR futures ADV is more than 33% of all Eurodollar futures ADV.

CME Group is one of the major US derivative exchange companies, and the net revenue of the unit is $1.1 billion.


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