CME Group Inc. operates a derivatives marketplace that supports trading and clearing in futures, options, cash and OTC markets. Its exchanges list benchmark products tied to interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals, with trading conducted through CME Globex, fixed income markets through BrokerTec, foreign exchange through EBS and central counterparty services through CME Clearing.
Company news commonly covers quarterly results, clearing and transaction fee revenue, market data revenue, dividends, new futures and options contracts, benchmark administration and regulatory approvals affecting clearing or margin services. Recurring updates also include cryptocurrency and equity index product expansion, U.S. repo and Term SOFR reference-rate activity, and the Purdue University/CME Group Ag Economy Barometer.
CME Group, the leading derivatives marketplace, is set to launch new event contracts on September 19, pending regulatory approval. Tailored for retail traders, these contracts enable individuals to speculate on daily price movements across popular futures markets, including E-mini S&P 500 and crude oil. Each contract has a maximum value of $20, offering simple and clear short-term trading opportunities. This initiative aims to attract retail participation in futures trading and enhance market accessibility.
CME Group announced the addition of two new futures contracts, the CBL N-GEO Trailing and CBL C-GEO Trailing, to its voluntary carbon products, set to launch on August 8, 2022, pending regulatory review. These contracts allow trading of carbon offset credits outside the eligibility window of existing contracts. Participation in CME's carbon markets is growing, with over 135 million carbon offsets traded since launch and record open interest of 22,669 contracts as of June 9, 2022. This expansion aims to meet rising market demand and enhance risk management.
CME Group and Chicago Mayor Lori Lightfoot have awarded 25 scholarships, valued at $5,000 each, to recent graduates from City Colleges of Chicago, recognizing their academic achievements. This initiative, part of the Star Scholarship program, aims to support students pursuing four-year degrees in fields such as finance and economics. Since its inception in 2017, the program has aided more than 12,500 students in obtaining associate degrees debt-free. CME Group's contributions exceed $2.5 million, underscoring its commitment to education and community development.
CME Group reported a significant milestone in its FX Link platform, achieving a record volume of 82,900 contracts on June 16, 2022, valued at over $7.2 billion. This represents a year-on-year increase in average daily volume (ADV) of 193%, with June 2022 ADV surpassing 43,000 contracts. The platform enhances risk management for participants by offering an anonymous FX swaps liquidity pool. Notably, a single-day record of 26,677 contracts in USD/JPY was also achieved. This growth is attributed to the heightened client participation and reduced spreads.
CME Group announced the launch of the first-ever 30-Year Uniform Mortgage-Backed Securities (UMBS) TBA futures contracts on October 3, 2022, pending regulatory approval. This move aims to enhance liquidity and provide a capital-efficient risk management tool for mortgage-backed securities market participants. The UMBS TBA market has seen a daily trading volume of $195 billion recently, constituting 80% of the overall TBA volumes. The contracts will facilitate price discovery and risk transfer, backed by Fannie Mae and Freddie Mac, and will be listed on CME Globex.
CME Group will announce its Q2 2022 earnings on July 27, 2022, before market open. Written highlights will be posted on its website at 6:00 a.m. CT. Following the announcement, the company will host a conference call at 7:30 a.m. CT, allowing analysts to ask questions. A live audio Webcast will be available on their Investor Relations page, with an archived recording afterward. As the leading derivatives marketplace, CME Group provides extensive trading options across various asset classes.
The Purdue University/CME Group Ag Economy Barometer fell to 99 in May, marking its lowest level since April 2020, driven by rising production costs and uncertain input prices. The Index of Current Conditions dropped 26 points to 94, while the Index of Future Expectations dropped 21 points to 101. Producer concerns are escalating, with 38% anticipating worse financial performance in 2022. The Farm Capital Investment Index fell to an all-time low as 78% deemed it a bad time for large investments. Despite concerns, farmland value expectations remain optimistic.
CME Group announced that Terry Duffy, Chairman and CEO, will present at the Piper Sandler Global Exchange and FinTech Conference on June 9, 2022, at 10:30 a.m. (Eastern Time). This presentation will be livestreamed on CME Group's investor website, investor.cmegroup.com, where an audio replay will also be available 24 hours after the event. CME Group is a leading derivatives marketplace offering a range of products across major asset classes including interest rates, equity indexes, and foreign exchange.
CME Group reported record performance in May 2022, achieving the highest-ever average daily volume (ADV) of 24.3 million contracts, an 18% increase year-over-year. The Equity Index ADV saw a remarkable 49% growth, mainly due to record Micro E-mini S&P 500 futures volumes. Additionally, SOFR options and futures reached all-time highs in ADV and open interest (OI). Key figures include Interest Rate ADV of 11.6 million contracts and foreign exchange ADV rising by 25%. Overall, the international market also thrived, with ADV outside the U.S. increasing by 17%.
CME Group and the Mathematical Sciences Research Institute announced Nancy Stokey as the recipient of the 2021 CME Group-MSRI Innovative Quantitative Applications Prize. Recognizing her significant contributions to economics and mathematics, Stokey's work focuses on economic growth and technology's role in middle-income countries. Previous awardees include Nobel laureates. CME's Chairman expressed admiration for Stokey's impact on global economic discussions, emphasizing the prize coincides with the 50th Anniversary of the International Monetary Market.