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 has launched Micro Ether futures, expanding its cryptocurrency derivatives offerings. This product, sized at one-tenth of one Ether, aims to provide a cost-effective way for various market participants, including institutions and individual traders, to hedge Ether price risks. The launch reflects growth in the cryptocurrency market and is expected to attract strong demand. The new futures are cash-settled based on the CME CF Ether-Dollar Reference Rate, offering a transparent and efficient trading option.
CME Group reported a significant milestone in its SOFR futures contracts, achieving over 1.6 million in open interest on November 30, marking a 137% increase year-to-date. The average daily volume for November soared to 304,314 contracts, up over 250% year-on-year. Additionally, cleared SOFR swaps notional volume surpassed $124 billion for the month. SOFR-indexed swaps constituted 32% of total USD swap trades. Overall, SOFR-linked open interest has reached 18.1 million contracts, representing 36% of total short-term interest rate futures at CME.
CME Group reported a 20% increase in average daily volume (ADV) to 23.1 million contracts for November 2021. Noteworthy increases include 12 million contracts in Interest Rate ADV, 5.6 million contracts in Equity Index ADV, and 4.1 million contracts in Options ADV. Key product highlights show options ADV rose by 59%, especially in Equity Index options, which saw a 66% increase. Additionally, foreign exchange ADV climbed by 6%, driving significant overall growth. BrokerTec's average daily notional value reached $127B, up 17%.
CME Group has announced that its Micro E-mini Equity Index futures and options surpassed 1 billion contracts traded on November 12. Launched in May 2019, these products allow clients to manage risk in liquid markets.
Significant milestones include over 214 million contracts traded in the first year and more than 527 million contracts in the second. Daily volume in 2021 averages 2,060,344 contracts, with significant trading occurring outside U.S. hours. This achievement highlights CME Group's role in promoting innovative trading solutions.
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CME Group and Google Cloud have formed a 10-year strategic partnership aimed at moving CME Group's infrastructure to the cloud. This initiative will enhance operational efficiencies, expand market access, and accelerate the development of new products and services for global derivatives markets. Key benefits include real-time data analytics, streamlined operations, and improved cybersecurity. Notably, Google has made a $1 billion equity investment in CME Group as part of this collaboration, highlighting strong confidence in the long-term vision of the partnership.
CME Group has declared a $0.90 per share dividend for the fourth quarter of 2021. This dividend will be payable on December 28, 2021, to shareholders on record as of December 10, 2021. CME Group maintains its position as the leading derivatives marketplace globally, offering a diverse range of trading products across various asset classes, including interest rates, equity indexes, energy, and more. This financial commitment reflects the company's confidence in its operational stability and performance.
In October 2021, the Purdue University/CME Group Ag Economy Barometer indicated a decline in producer sentiment, dropping to 121, part of a three-month downward trend. The Index of Current Conditions fell to 140, while the Index of Future Expectations decreased to 114. Key concerns driving this sentiment include rising input prices, particularly in fertilizers, with over half of producers expecting an 8% or more increase in costs. Despite these challenges, farmland value expectations hit a record high index of 161.
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CME Group reported a significant increase in its October 2021 market statistics, with an average daily volume (ADV) of 20.4 million contracts, a 32% rise year-over-year. Key highlights include a 94% increase in Interest Rate ADV, driven by record SOFR futures, and a 53% rise in Options ADV. Energy ADV grew by 28%, with Micro WTI Crude Oil futures seeing notable activity since their July launch. Overall ADV outside the U.S. rose 36%. The company continues to lead in the derivatives market, offering a diverse range of products.