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.
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("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500
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These trademarks have been licensed for use by Chicago Mercantile
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S&P DJI makes no representation regarding the advisability of
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CME-G
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SOURCE CME Group