CME Group Hits Second-Highest Monthly Volume Ever

Rhea-AI Summary

CME Group (CME) reported its second-highest monthly average daily volume with November 2025 ADV of 33.1 million contracts, a 10% year-over-year increase. April 2025 remains the record month at 35.9 million contracts. November highlights include Interest Rate ADV 17.5M, Equity Index ADV 8.9M, Energy 2.6M, Agricultural 2.1M, Metals 1.3M, FX 746k, and a record Cryptocurrency ADV 424k (≃$13.2B notional).

Notable gains: SOFR options +18% (1.6M), Micro E-mini products drove 45.3% of Equity Index ADV, international ADV +6%, and BrokerTec U.S. Repo ADNV +17% to $386B.

Positive

• ADV 33.1M contracts in November (+10% YoY)
• Record Cryptocurrency ADV 424k contracts (~$13.2B notional)
• Interest Rate ADV 17.5M contracts
• Micro products = 45.3% of Equity Index ADV
• BrokerTec U.S. Repo ADNV $386B (+17%)
• International ADV 9.8M (+6%)

Negative

• None.

News Market Reaction

-0.54%

1 alert

-0.54% News Effect

On the day this news was published, CME declined 0.54%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

November 2025 ADV: 33.1 million contracts ADV YoY change: 10% Record monthly ADV: 35.9 million contracts +5 more

8 metrics

November 2025 ADV 33.1 million contracts Second-highest monthly average daily volume, November 2025

ADV YoY change 10% Year-over-year increase in November 2025 ADV

Record monthly ADV 35.9 million contracts Monthly ADV record set in April 2025

Crypto ADV 424,000 contracts Record Cryptocurrency ADV in November 2025

Crypto notional $13.2 billion Notional value associated with record Cryptocurrency ADV

Interest Rate ADV 17.5 million contracts November 2025 Interest Rate ADV

Equity Index ADV 8.9 million contracts November 2025 Equity Index ADV

BrokerTec U.S. Repo ADNV $386 billion Average daily notional value, November 2025 vs November 2024

Market Reality Check

Price: $302.27 Vol: Volume 1,707,550 vs 20-da...

normal vol

$302.27 Last Close

Volume Volume 1,707,550 vs 20-day average 2,062,888 (relative volume 0.83x) ahead of this release. normal

Technical Price $272.41 was reported as trading below the 200-day MA of $270.30 in the technical context.

Peers on Argus

While CME was down 1.4%, key peers like ICE (+1.21%), NDAQ (+1.78%), COIN (+0.79...

While CME was down 1.4%, key peers like ICE (+1.21%), NDAQ (+1.78%), COIN (+0.79%), MCO (+0.62%) and SPGI (+0.88%) traded higher, suggesting the reaction was stock-specific rather than a sector-wide move.

Historical Context

5 past events · Latest: Dec 02 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 02	Clearing approval	Positive	-0.5%	SEC approval for new securities clearing house targeting Treasury and repo mandates.
Dec 02	Ag sentiment data	Positive	-0.5%	Ag Economy Barometer rose with higher future expectations and improved farm finances.
Dec 02	Monthly ADV update	Positive	-0.5%	Second-highest monthly ADV at 33.1M contracts with broad asset class strength.
Nov 24	Crypto volume record	Positive	+0.9%	Cryptocurrency complex set all-time daily volume record with strong micro product demand.
Nov 24	Treasury OI record	Positive	+0.9%	Record U.S. Treasury open interest and high daily volume amid strong client hedging demand.

Pattern Detected

Recent microstructure/volume-positive headlines often saw modest positive or modestly negative next-day moves, indicating reactions that can diverge from seemingly constructive operational updates.

Recent Company History

Over late 2025, CME’s news flow focused on trading activity and market structure. In November, it reported record U.S. Treasury open interest and a cryptocurrency complex daily volume record, with shares rising about 0.95% after those updates. On December 2, multiple items highlighted SEC approval of a new securities clearing house, stronger farmer sentiment, and November ADV of 33.1M contracts, yet the stock moved about -0.54%. Today’s second-highest monthly volume headline continues this theme of strong underlying activity sometimes met with muted or negative price follow-through.

Market Pulse Summary

This announcement highlights CME’s second-highest monthly ADV at 33.1 million contracts, with a 10% ...

Analysis

This announcement highlights CME’s second-highest monthly ADV at 33.1 million contracts, with a 10% year-over-year increase and record cryptocurrency ADV of 424,000 contracts (about $13.2 billion notional). Activity was strong across interest rate, equity index, and international products, and BrokerTec U.S. Repo ADNV reached $386 billion. Recent history shows a stream of record volumes and open interest updates. Investors may watch whether this elevated trading activity persists across asset classes and how it interacts with broader macro and rate dynamics.

Key Terms

average daily volume, notional, performance bond requirements, central counterparty clearing, +1 more

5 terms

average daily volume financial

"today reported its second-highest monthly average daily volume (ADV) of 33.1 million"

Average daily volume is the typical number of shares or contracts of a security traded each day, calculated by averaging daily trading amounts over a recent period. It matters to investors because it indicates how easy it is to buy or sell without moving the price—like traffic on a road: high volume is a busy freeway that lets many cars pass smoothly, while low volume can make large orders cause big price changes and higher costs.

notional financial

"Record Cryptocurrency ADV of 424,000 contracts ($13.2 billion notional)"

Notional refers to the reference amount used to calculate payments or measure the size of a financial contract, without representing actual cash that changes hands. For investors it shows the scale of exposure — like the mileage used to compute a car rental bill even though you don’t buy the miles themselves — and helps compare risk and potential gains or losses across instruments.

performance bond requirements financial

"collateral balances to meet performance bond requirements for rolling 3-months"

Performance bond requirements are contractual guarantees that a party will complete agreed work or deliver services; if they fail, a third party pays or steps in to finish the job. Think of it like a large security deposit or backup insurance that protects the buyer from incomplete projects. For investors, these requirements signal reduced project risk but can tie up cash or increase costs, affecting returns and company creditworthiness.

central counterparty clearing regulatory

"operates one of the world's leading central counterparty clearing providers, CME Clearing"

A central counterparty clearing (CCP) is a specialized financial intermediary that sits between buyers and sellers of securities or derivatives, becoming the buyer to every seller and the seller to every buyer to guarantee trades are completed. Like an insurance-backed referee, it manages the risk of someone failing to pay by requiring collateral, pooling resources, and simplifying many trades into smaller net payments, which helps investors by lowering the chance of loss from a counterparty default and improving market stability and liquidity.

futures financial

"enables clients to trade futures, options, cash and OTC markets"

A futures contract is a standardized agreement to buy or sell an asset (like a commodity, currency, or stock index) at a fixed price on a specific future date. Think of it like locking in the price of a house today for a move-in years from now: it lets buyers and sellers protect themselves against price swings or bet on which way prices will move. For investors, futures matter because they provide a cheap way to manage risk, amplify returns through leverage, and signal market expectations that can move cash prices.

AI-generated analysis. Not financial advice.

• November ADV reached 33.1 million contracts
• Record Cryptocurrency ADV of 424,000 contracts

CHICAGO, Dec. 2, 2025 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today reported its second-highest monthly average daily volume (ADV) of 33.1 million contracts in November, an increase of 10% year-over-year. The company's monthly ADV record was set in April 2025 with 35.9 million contracts. Market statistics are available in greater detail at https://cmegroupinc.gcs-web.com/monthly-volume.

November 2025 ADV across asset classes includes:

• Interest Rate ADV of 17.5 million contracts
• Equity Index ADV of 8.9 million contracts
• Energy ADV of 2.6 million contracts
• Agricultural ADV of 2.1 million contracts
• Metals ADV of 1.3 million contracts
• Foreign Exchange ADV of 746,000 contracts
• Record Cryptocurrency ADV of 424,000 contracts ($13.2 billion notional)

Additional November 2025 product highlights compared to November 2024:

• Interest Rate ADV
  • Record Ultra U.S. Treasury Bond futures ADV of 746,000 contracts
  • 5-Year U.S. Treasury Note futures ADV increased 2% to 2.8 million contracts
  • SOFR options ADV increased 18% to 1.6 million contracts
  • 30 Day Fed Funds futures ADV increased 56% to 675,000 contracts
• Equity Index ADV increased 39%
  • Micro E-mini Nasdaq 100 futures ADV increased 72% to 2.2 million contracts
  • Micro E-mini S&P 500 futures ADV increased 80% to 1.6 million contracts
  • E-Mini Nasdaq 100 futures ADV increased 28% to 682,000 contracts
• Energy ADV
  • Henry Hub Natural Gas options ADV increased 18% to 326,000 contracts
  • NY Heating Oil futures ADV increased 32% to 225,000 contracts
• Agricultural ADV increased 8%
  • Corn futures ADV increased 2% to 514,000 contracts
  • Soybean Meal futures ADV increased 4% to 201,000 contracts
• Metals ADV increased 52%
  • Micro Gold futures ADV increased 235% to 476,000 contracts
  • Silver futures ADV increased 22% to 108,000 contracts
  • Micro Silver futures ADV increased 238% to 75,000 contracts
• Cryptocurrency ADV increased 78%
  • Micro Ether futures ADV increased 176% to 229,000 contracts
  • Ether futures ADV increased 127% to 24,000 contracts
• Micro Products ADV
  • Micro E-mini Equity Index futures and options ADV of 4 million contracts represented 45.3% of overall Equity Index ADV and Micro WTI Crude Oil futures accounted for 2% of overall Energy ADV
• International ADV increased 6% to 9.8 million contracts, with EMEA ADV up 3% to 7.2 million contracts, APAC ADV up 13% to 2.2 million contracts and Latin America ADV up 16% to 193,000 contracts
• BrokerTec U.S. Repo average daily notional value (ADNV) increased 17% to $386 billion and European Repo ADNV increased 1% to €304 billion
• Customer average collateral balances to meet performance bond requirements for rolling 3-months ending October 2025 were $135.2 billion for cash collateral and $160.3 billion for non-cash collateral

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, cryptocurrencies, 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 is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners. 

CME-G

View original content:https://www.prnewswire.com/news-releases/cme-group-hits-second-highest-monthly-volume-ever-302629851.html

SOURCE CME Group

FAQ

What was CME Group's November 2025 average daily volume (ADV) and YoY change for CME?

CME reported November 2025 ADV of 33.1 million contracts, a 10% increase year-over-year.

Which asset class led CME's November 2025 ADV for ticker CME?

Interest Rate products led with 17.5 million contracts in November 2025.

How large was CME's cryptocurrency activity in November 2025 (CME)?

CME recorded a record cryptocurrency ADV of 424,000 contracts, about $13.2 billion notional in November 2025.

What role did Micro E-mini products play in CME's November 2025 Equity Index volumes (CME)?

Micro E-mini equity index futures and options had 4.0 million ADV, representing 45.3% of Equity Index ADV.

Did CME's international volume change in November 2025 and by how much for CME?

Yes; International ADV rose 6% to 9.8 million contracts, with APAC up 13% and Latin America up 16%.

How did CME's Repo trading via BrokerTec perform in November 2025 (CME)?

BrokerTec U.S. Repo ADNV increased 17% to $386 billion, while European Repo ADNV was €304 billion.