Trading in currency futures sustained its strong pace in August, with 13 of the 20 top-volume contracts increasing volume from July, and 17 of 20 increasing from August 2004.
The Chicago Mercantile Exchange’s Euro FX contract holds the top spot by a wide margin, and although its August volume of 2,765,102 contracts was only 1.19 percent more than the number traded in July, this figure was an 82- percent increase from the same month last year. The Merc’s Japanese yen and British pound futures traded more than 100 percent of August 2004’s volume, and the Swiss franc and Aussie dollar futures increased by 90 and 87 percent, respectively.
Volume in the New York Board of Trade’s U.S. dollar index contract increased 63 percent from July and 148 from last August. Trading in the NYBOT’s Euro/Swiss pair increased 81 percent from July to August and more than 600 percent from August 2004. And although volume in the Aussie dollar/Japanese yen, Euro/Norwegian Kroner, and Euro/dollar contracts were between 5,000 and 10,000 contracts in August, their modest figures were nonetheless increases of 220, 398, and 509 percent over last year.
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