CME volume drops 28% in February

(AP) — Exchange operator CME Group Inc. said Tuesday average trading volume across its exchanges fell 28 percent in February from a year ago, but is trending up compared with recent months.

An average of 10.8 million contracts were traded per day on CME Group's exchanges in February, compared with 15.1 million contracts traded per day during the same month last year. However, average daily volume increased 14 percent from 9.5 million contracts in January.
Total February volume was 206 million contracts, of which 79 percent were traded electronically.

Trading volume was down across nearly all of CME Group's product lines, with interest-rate contract volume tumbling the furthest. February interest-rate volume fell 51 percent to an average of 4.1 million contracts per day from 8.5 million contracts per day in February 2008.
Volume at the New York Mercantile Exchange, where physical commodity futures are traded, averaged 2 million contracts, up 6 percent from the prior-year period.

CME Group acquired the New York Mercantile Exchange in August 2008.

CME Group shares added $2.48, or 1.4 percent, to $175.76 in mid-morning trading.