CME Group Announces Record Aluminum Futures Volume, Open Interest

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Mar 02, 2023, 03:00 ET

CHICAGO, March 2, 2023 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that participation in Aluminum futures is off to a strong start in 2023, reporting record average daily volume (ADV) in February of 3,161 contracts, up 300% year-over-year, as well as record average daily open interest of 2,549 contracts, up 711% year-over-year and extending through December 2024.

"We are pleased to see that strong momentum in our Aluminum markets has continued into 2023, and we look forward to helping more participants across the base metals supply chain manage their risk effectively," said Jin Chang, Managing Director and Global Head of Metals at CME Group. "In addition to strong volume and open interest growth, we also saw a record 166 unique users in February, which is up 186% over February of last year."

"We applaud CME Group for working quickly and effectively to create a stronger Aluminum market alternative," said Chris Brennan at Jane Street. "As a leading liquidity provider in global markets, we support the CME Group's efforts to improve liquidity and efficiency in commodity markets and are excited to see them expand their base metals presence. We believe CME Group offers the transparency and integrity that many market participants depend on to transact with confidence."

"We have been closely following the substantial progress CME Group has made in growing Aluminum volume and open interest and building a robust alternative marketplace," said Anant Jatia, Founder at Greenland Investment Management. "We are assured by the customer protections and market controls CME Group has in place and are committed to trading and expanding our participation in their Aluminum contracts moving forward, helping support this important market growth."

"We applaud CME Group's growing focus in providing investors with access to key battery metals materials involved in the energy transition, while also growing their global Aluminum markets," said Luke Oliver, Head of Climate Investments at KraneShares. "As a leading ETF provider, we welcome CME Group developing viable alternatives for the base metals industry. We are pleased to be an active participant in CME Group's Aluminum contract and will continue to expand our presence in these important markets."

Aluminum (ALI) futures are listed by and subject to the rules of COMEX. For more information, please visit www.cmegroup.com/aluminum.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

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SOURCE CME Group