Record January Volumes Hit 29.6M Contracts at CME Group; 2025 Revenue Also a Record

January Volumes Break Records at CME Group

CME Group says January sets a new record for average daily volume (ADV), reaching 29.6 million contracts, up 15% year‑over‑year from the prior January record of 25.7 million in 2025. The surge is broad‑based across asset classes, led by interest rates with 13.9 million ADV, equity index with 7.3 million, energy 3.6 million, metals 2.2 million, agriculture 1.6 million, foreign exchange 991,000 and cryptocurrency 408,000 contracts (about $10.8 billion notional). Detailed monthly statistics and product‑level figures are available on the company’s website.

The interest rates complex posts significant gains: U.S. Treasury futures and options total 7.7 million ADV (up 15%), SOFR futures and options reach 5.6 million (up 21%) and 30‑Day Fed Funds futures jump 59% to 504,000. Metals volumes surge 218%, propelled by strong demand in micro products — Micro Silver at a record 438,000 ADV, Micro Gold up 472% to 693,000 and 1‑Ounce Gold at a record 115,000 — underscoring growing retail and micro‑product participation. Equity Index ADV rises 4%, with Micro E‑mini Nasdaq‑100 futures at 1.8 million (up 10%), while energy sees 11% growth led by record Henry Hub natural gas futures (851,000) and options (403,000) and a 26% jump in WTI crude options.

Micro products collectively account for meaningful shares of activity, with Micro E‑mini equity index products totaling 3.2 million ADV (43.9% of Equity Index ADV) and Micro WTI comprising about 2% of Energy ADV. International activity climbs 19% to 9.2 million ADV (EMEA 6.7 million, APAC 2.2 million), and institutional venues see gains: BrokerTec U.S. repo ADNV is $382 billion (up 20%) and EBS spot FX ADNV is $75 billion (up 13%). CME Group emphasizes that the January results reflect its deep global liquidity and ongoing product innovation.

Farmer Sentiment Weakens, May Affect Agricultural Flows

The Purdue University/CME Group Ag Economy Barometer plunges 23 points to 113 in January, with the Current Conditions Index at 109 and Future Expectations at 115, signaling growing financial stress among U.S. producers. Half of surveyed farmers say operations are worse off versus a year ago and 30% expect weaker financial performance over the next 12 months, a backdrop that could influence agricultural hedging and futures demand through 2026.

CME Group Notes Record 2025 Revenue, Strategic Priorities

CME Group says 2025 is its best year ever with record annual revenue of $6.5 billion and market data revenue of $803 million, and annual ADV of 28.1 million contracts. Management signals focus on expanding U.S. Treasury clearing, developing 24/7 cryptocurrency trading and launching prediction markets as strategic priorities following the record volumes.