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CME Group Reports Record Volume For '07

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Jan 2, 2008 10:01 am US/Central

CME Group Reports Record Volume For '07

2.8 Billion Contracts Traded

CHICAGO (AP) ― Financial exchange giant CME Group reports record volume for 2007 with nearly 2.8 billion contracts traded.

The Chicago-based company was formed last year when Chicago Mercantile Exchange Holdings acquired the Chicago Board of Trade's parent firm.

Based on combined results from the two exchanges, it was the seventh straight year that volume growth exceeded 20 percent. The company also achieved the largest percentage growth year-over-year since 2002 with average daily volume up 28 percent.

Electronic trading grew from 76 percent of all volume in the first quarter of 2007 to a record 81 percent in the fourth quarter.

CME faces a new challenge in 2008 from a group of banks and trading firms that said last month they plan to launch their own futures exchange to try to garner cheaper commissions.

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