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 reported strong financial results for the third quarter of 2021, with revenue of $1.1 billion and net income of $927 million, translating to diluted EPS of $2.58. Adjusted net income was $574 million with an EPS of $1.60. Average daily volume grew 14% year-over-year, driven by interest rates, energy, and options products. The company introduced 70 new products in 2021 and progressed on its long-term strategy with the launch of OSTTRA. CME Group has returned approximately $16.3 billion to shareholders since 2012 via dividends.
CME Group announced record trading in SOFR futures, with 396,421 contracts traded on October 18, 2021. This marks an increase from the previous record of 341,922 contracts on June 18, 2021. Open interest also reached a record 1,166,016 contracts on October 19, 2021, up 170% year-over-year. Average daily volume in SOFR futures has surged by 171% compared to 2020, averaging over 212,000 contracts in October. The rise reflects growing adoption as clients manage interest rate risks before key transition deadlines.
CME Group reported a strong performance in Q3 2021, with international average daily volume (ADV) reaching 5 million contracts, a 13% increase year-on-year. Trading in Interest Rate and Energy products drove significant growth, with volumes up 54% and 31%, respectively. Overall, global ADV reached 17.8 million contracts, a 14% increase from Q3 2020. The EMEA region saw a 15% rise in ADV, while Asia Pacific and Latin America reported increases of 8% and 32%, respectively.
The Purdue University/CME Group Ag Economy Barometer dropped 14 points in September to 124, marking the lowest farmer sentiment since July 2020. Both the Index of Current Conditions and Index of Future Expectations also fell. The Farm Financial Performance Index remained at 110, but expectations showed divergence. The Farm Capital Investment Index declined 10 points to 43, with machinery purchase plans dropping. Concerns over input prices surged, with 34% expecting over 12% increases. However, long-term farmland value expectations rose, with the long-term index reaching a record high of 159.
CME Group reported significant growth in its Q3 and September 2021 market statistics, with average daily volume (ADV) rising 14% to 17.8 million contracts in Q3 and 11% to 18.8 million contracts in September. Key highlights include a 53% increase in interest rate ADV, with record SOFR futures ADV up 183%. Bitcoin futures ADV soared 170%, while options ADV increased 45%. Additionally, ADV outside the US grew 13% to 5 million contracts. Overall, CME Group remains a leader in diverse derivatives trading.
CME Group has announced the launch of the derivatives industry's first-ever Sustainable Clearing service, effective September 27, 2021. This service allows market participants to track and report their hedging activities in relation to sustainability goals, covering sustainable products like carbon offsets and battery metals. The initiative responds to clients' increasing focus on sustainability, promoting efficient risk management while adhering to third-party standards. The eligibility criteria will be governed by CME Benchmark Administration Limited to ensure transparency and integrity.
CME Group announced that its SOFR futures contracts achieved a record open interest of 1,004,882 contracts on September 15, 2021. This marks the seventh consecutive day of record open interest. SOFR futures volume jumped 195% year-over-year to 125,000 contracts per day in August. Total SOFR-linked open interest has reached 20.2 million contracts, accounting for 38% of the total short-term interest rate futures and options open interest at CME. The rise in SOFR futures reflects significant market adoption since the introduction of SOFR-based fallbacks in March 2021.
CME Group announced the launch of E-mini Russell 2000 Monday and Wednesday Weekly options, effective October 4, pending regulatory review. This expansion aims to cater to the growing demand for short-dated options, providing clients with enhanced flexibility for hedging around major market events. The new contracts will complement existing options and are designed to simplify risk management in the small-cap market, benefiting around $10.6 trillion in assets managed against the Russell US indexes.
CME Group will release its third-quarter 2021 earnings on October 27, 2021, before market opening. Highlights will be available online at 6:00 a.m. CT. A conference call for investors will follow at 7:30 a.m. CT, where executives will address analyst questions. CME Group is a leader in diverse derivatives trading, offering a variety of products across major asset classes, including interest rates and energy. The live audio webcast will be accessible via the company's investor relations page.
The Purdue University/CME Group Ag Economy Barometer increased to 138 in August 2021, up 4 points from July. The Index of Current Conditions rose 9 points to 152, while the Index of Future Expectations increased 2 points to 132. Farmers expressed improved financial outlooks, with the Farm Financial Performance Index climbing to 110, its highest since May. However, 39% of respondents anticipate input price inflation of 8% or more in the next year. Despite concerns, producers are optimistic about farmland values and rental rates rising in 2022.