Chief Financial Officer Lynne Fitzpatrick Appointed to President and CFO Chief Operating Officer Julie Holzrichter to Step Down and Assume Advisory Role Suzanne Sprague to Succeed Holzrichter CHICAGO, Nov. 7, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that its Board will extend Chairman and Chief Executive Officer Terry Duffy's contract through December 31, 2026.The company also announced Lynne Fitzpatrick will take on the expanded role of President and Chi ...

Indiana University took first place, with the rest of the top five from outside the United States Record participation from nearly 570 teams across 24 countries CHICAGO, Nov. 7, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced the winners of its 21th annual University Trading Challenge, led by Indiana University. 21st Annual CME Group University Trading Challenge Winners Team Position University Name Country First Place Indiana University United State ...

Record October ADV for interest rate, energy, metals and agricultural products Record October ADV across U.S. Treasury and SOFR complexes All-time record monthly ADV in U.S. Treasury options and energy optionsCHICAGO, Nov. 4, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today reported its October 2024 market statistics, with average daily volume (ADV) reaching 24.3 million contracts, the second-highest October volume ever. Market statistics are available in greater detail at ...

CHICAGO, Oct. 29, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced it has received approval from the National Futures Association (NFA) to establish a futures commission merchant (FCM). "We are pleased that the NFA has approved our FCM application," said Terry Duffy, Chairman and Chief Executive Officer, CME Group. "We remain committed to the FCM model and believe in the time-tested risk management benefits it continues to provide. At the same time, as our industr ...

CHICAGO, Oct. 29, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced its new Spodumene CIF China (Fastmarkets) futures have launched and are available for trading. A total of 29 contracts traded on the first day, with participation from a number of firms including JA Commodities (Zhejiang) Ltd, Mitsubishi Corporation RTM International Pte Ltd, Wogen Resources Limited and Wooray Commodities Pte Ltd. The first trade was executed by Freight Investor Services Ltd."We ar ...

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Core Viewpoint - CME Group reported strong third-quarter 2024 results, with adjusted earnings per share of $2.68, exceeding estimates and showing a year-over-year increase of 19.1% [1] Financial Performance - Revenues reached $1.6 billion, marking an 18.4% increase year over year, driven by higher clearing and transaction fees (up 19.5%), market data and information services (up 6.3%), and other revenues (up 28.8%) [2] - Total expenses rose 8.2% year over year to $560.2 million, primarily due to increased compensation, technology costs, and licensing fees, surpassing estimates [2] - Operating income increased by 24.8% to $1 billion, exceeding estimates [2] - Average daily volume (ADV) was 28.2 million contracts, with significant growth in non-U.S. ADV, particularly in EMEA (up 30%) and Asia (up 28%) [2] Financial Update - As of September 30, 2024, CME Group had $2.3 billion in cash and marketable securities, a decrease of 19.5% from the end of 2023 [3] - Long-term debt stood at $2.7 billion, down 21.8% from the end of 2023 [3] - Shareholders' equity was valued at $28.2 billion, reflecting a 5.5% increase from the end of 2023 [3] Capital Deployment - CME Group has paid out $419 billion in dividends, totaling $25.6 billion since the introduction of its variable dividend policy in early 2012 [4] Market Position - CME Group currently holds a Zacks Rank of 2 (Buy), indicating a favorable outlook in the market [5]

Financial Data and Key Metrics Changes - The third quarter average daily volume (ADV) reached 28.3 million contracts, marking a 27% increase year-over-year, the highest quarterly ADV in CME Group's history [5][6] - Quarterly revenue was nearly $1.6 billion, up 18% from Q3 2023, with record net income of $977 million and earnings per share of $2.68, both up 19% year-over-year [9][10] - Adjusted operating margin improved to 69.1%, up 260 basis points from 66.5% in the same period last year [10] Business Line Data and Key Metrics Changes - Financial products volume grew by 28%, while commodity sector volumes increased by 20% [6] - The interest rate complex saw a 36% year-over-year growth, averaging 14.9 million contracts per day, with SOFR futures and treasuries achieving all-time record volumes [6][10] - The international business recorded an ADV of 8.4 million contracts, up 29% year-over-year, with EMEA leading at 6.2 million contracts (up 30%) and APAC at 1.9 million contracts (up 28%) [8] Market Data and Key Metrics Changes - The market data revenue increased by 6% to $178 million, while other revenue rose by 29% to over $109 million [9] - The company achieved record volumes across all six asset classes for the second consecutive quarter, indicating broad-based growth [5][8] Company Strategy and Development Direction - The company continues to focus on product innovation, new customer acquisition, and maintaining deep liquid markets across major asset classes [10] - Management emphasized the importance of risk management in a volatile environment, driven by geopolitical events and economic uncertainties [7][10] - The company is monitoring its capital return policy and potential M&A opportunities, indicating a flexible approach to shareholder value [13] Management's Comments on Operating Environment and Future Outlook - Management noted that the uncertainty around U.S. elections and global geopolitical events is increasing the demand for liquid and efficient markets [7] - The company expects continued growth in interest rate trading despite recent Fed rate cuts, attributing this to ongoing issuance and deficit financing [7][10] - The effective tax rate is expected to decrease due to strong international business growth, with guidance lowered to a range of 22.5% to 23% [10] Other Important Information - Capital expenditures for Q3 were approximately $30 million, with cash reserves at about $2.6 billion [10] - The company reported average cash balances of $72 billion and non-cash collateral of $165 billion for the quarter [60] Q&A Session Summary Question: Thoughts on capital return policy and M&A - Management is continuously monitoring capital return strategies and is open to M&A opportunities if they align with shareholder interests [13] Question: Update on customer efficiencies and savings - The portfolio margining program delivers average daily savings of about $7 billion, with cross-margining programs achieving upwards of $1 billion in savings [15][16] Question: Impact of new customer acquisition on volumes - New institutional client growth is up almost 40% this year, with retail channels welcoming over 176,000 new traders year-to-date [19][21] Question: Competitive landscape in rates and pricing strategies - Management remains focused on maintaining competitive pricing without compromising value, emphasizing the importance of market conditions [37][42] Question: Growth in the energy business and international markets - The energy business has seen record revenues, with significant growth driven by international participation and physical flows of U.S. benchmarks [46][49]

For the quarter ended September 2024, CME Group (CME) reported revenue of $1.58 billion, up 18.4% over the same period last year. EPS came in at $2.68, compared to $2.25 in the year-ago quarter.The reported revenue represents a surprise of +0.66% over the Zacks Consensus Estimate of $1.57 billion. With the consensus EPS estimate being $2.65, the EPS surprise was +1.13%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expe ...

CME Group (CME) came out with quarterly earnings of $2.68 per share, beating the Zacks Consensus Estimate of $2.65 per share. This compares to earnings of $2.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.13%. A quarter ago, it was expected that this parent company of the Chicago Board of Trade and other exchanges would post earnings of $2.51 per share when it actually produced earnings of $2.56, delivering a surprise of ...