International average daily volume (ADV) of derivatives trading reached 6.3 million contracts in the second quarter, up 21 percent over the previous year, according to CME Group, the world’s leading derivatives marketplace.
The higher trading volume was primarily driven by a 43 percent growth in equity Index products, a 28 percent increase in interest rate products, a 24 percent rise in foreign exchange products, and a 44 percent growth in equity options.
“Market conditions in the second quarter of the year continued to create a heightened need for risk management globally as clients worldwide worked to navigate sustained uncertainty and volatility,” said Derek Sammann, senior managing director and global head of commodities, options, and international markets at CME Group. “We saw considerable increases in volumes in Europe and Asia in Q2 and continue to work with clients in these regions and beyond to provide the financial and commodity risk management tools they rely on, around the clock and around the world.”
In Europe, the Middle East, and Africa, ADV hit 4.3 million contracts, up 15 percent from the second quarter of 2021. This was driven by a strong performance in equity index products and interest rate products in the region, up 31 percent and 24 percent, respectively, compared to the same period in 2021.
Further, Asia Pacific ADV reached 1.7 million contracts in the second quarter, up 36 percent year on year. The gains were driven by 70 percent growth in equity index products, 38 percent growth in interest rate products, and 37 percent growth in energy products in the region. Also, Latin America ADV grew to 164,000 contracts in the quarter, up 40 percent from Q1 2021. This was led by a 59 percent growth in equity index products and a 65 percent growth in interest rate products in the region. Finally, Canada ADV grew to 154,000 contracts in the quarter, up 20 percent year on year. This was driven by a strong performance in equity index and interest rate products, up 34 percent and 30 percent, respectively, compared to the same period in 2021.
Globally, CME Group reported ADV of 23.1 million contracts in the second quarter, up 25 percent over the same period in 2021. This increase was largely driven by growth in equity index products, up 57 percent, as well as foreign exchange and interest rate products, both up 24 percent.