Indiana Grain Company, LLC

Posted: 07/07/10

By: tomgrisafi

Our friends at the CME Group have announced that June volume averaged 12.2 million contracts per day, up 8% from June 2009.

Total volume was 268 million contracts for June, of which 84% was traded electronically.

During the second quarter, CME Group interest rate volume averaged 6.1 million contracts per day, up 38% compared with second-quarter 2009.

Second-quarter CME Group energy volume averaged a record 1.8 million contracts per day, up 29% compared with the same period last year, driven primarily by record volume for WTI and refined products.

Things are only bound to get busier for our friends at CME when the exchange starts clearing over-the-counter interest-rate contracts.

A sweeping financial regulatory reform bill that won passage this month in the U.S. House of Representatives will require trading and clearing of a swath of derivatives currently traded away from regulated exchanges. CME is among several clearinghouses that aim to take advantage of the new requirements.

"We continue to work with a group of large buyside accounts and dealer firms" on interest-rate clearing, CME director Elizabeth Flores told reporters on a conference call. CME is "still anticipating a launch later this year."

Source: CME, IBTimesFX, RTT News