The Chicago Mercantile Exchange posted total 2004 annual volume of more than 787 million contracts, with growing strength in currency futures.
Overall, fourth quarter trading activity was strong, with an average daily volume of almost 3.1 million contracts, up 33 percent from the same period in 2003. Leading the increase was a 79 percent rise in currency trading, averaging 252,000 contracts per day. It was the first quarter CME currency volume averaged more than 200,000 contracts per day.
The CME December volume of currency products was 6.8 million, compared to 4.7 million in November. For the year, currency product volume reached 51.2 million, compared to 34 million in 2003.
Currency option volume reached 363,053 contracts in December 2004, compared to 250,693 in December 2003. Year-over-year, volume increased to 2.4 million from 2.1 million.
Volume in several currency futures increased dramatically over the past month. The Japanese yen increased to 1 million contracts in December compared to 650,503 in November.
Contracts for the yen increased to 7.4 million in 2004 compared to 6 million in 2003. Australian dollar futures had volume of 377,473 contracts in December, compared to 212,576 in November. The 2004 volume was 2.7 million compared to 1.6 million in 2003.
While the euro didn’t see dramatic month-over-month volume –– 2.6 million December contracts compared to 2.1 in November –– its yearly volume increase was nearly double at 20.4 million in 2004 compared to 11.2 in 2003.
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