CME International reports 43% rise in average daily volume

CME International has reported a 43 per cent increase in average daily volume (ADV) to 7.8 million contracts.

For EU Repo, BrokerTec reported that liquidity remained robust and volumes were steady during April, with €296 billion in notional value trading each day.

For US repo, ADV increased three per cent from March and five per cent YoY, with transactions worth US$294 billion trading hands each day.

BrokerTec US Treasury ADV was US$108.2 billion, rising 18 per cent from March and 18 per cent YoY.

John Edwards, global head of BrokerTec, CME Group, comments: “Market participants continue to monitor the risk associated with the change in economic conditions, inflation expectations and U.S. Treasury issuance in anticipation of FOMC actions for the rest of the year.”

Erik Norland, chief economist, CME Group, adds: “Continued strong growth in employment and higher than expected inflation numbers helped to stave off expectations of a Fed interest rate cut, pushing bond yields higher."