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Foreign Exchange

CME FX trading volumes remain buoyant; record set in AUD and CAD

Trading volumes remained healthy on the CME in June as activity remained elevated after eurozone debt tensions resurfaced.

Currency markets sparked back into life in May after the first Greek general election caused widespread concerns over the future of the euro. Those tensions raised volatility and pushed EURUSD out of the tight trading range that had subdued volumes in the first few months of the year.

Tensions remained high in June as Greece returned to the polls, and worries over Spanish and Italian debt mounted.

Daily volumes on the CME averaged 1.1 million contracts in June, corresponding to a notional value of $128 billion. That was up 10.3% from May and 8% higher than June last year.

Meanwhile, record volumes were traded in both CAD and AUD.

 Record AUD volumes at CME

 
 Source: CME Group

Furthermore, CME Group recorded an open interest record in FX futures on June 7 of £277 billion.

Open interest represents the number of contracts bought or sold but left open overnight. It is seen as an indicator of future volume growth.

Year-to-date open interest in EUR is up 49%, 20% higher in JPY, 13% higher in AUD and up 13% in CAD.

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