Core Insights - CME Group reported record average daily volume (ADV) of 28.1 million contracts for the full year 2025, a 6% increase from 2024 [1] - Q4 2025 ADV reached a record 27.4 million contracts, while December ADV also set a record at 23.5 million contracts [1] Full-Year 2025 Highlights - Record annual ADV was achieved across various asset classes including interest rate, energy, agricultural, metals, and cryptocurrency products [2] - U.S. Treasury and SOFR complexes also saw record annual ADV [2] - International ADV increased by 8% to a record 8.4 million contracts, with notable growth in EMEA and APAC regions [3] Q4 2025 Highlights - Interest Rate ADV increased by 4% to a record 14.2 million contracts [3] - Equity Index ADV rose by 22% to 7.7 million contracts, with Micro E-mini Nasdaq 100 futures ADV increasing by 41% [3] - Energy ADV reached 2.5 million contracts, while Agricultural ADV increased by 2% to 1.8 million contracts [3] December 2025 Highlights - December saw record ADV in Metals at 1.3 million contracts, with Micro Gold futures ADV increasing by 312% to 449,000 contracts [6] - Cryptocurrency ADV reached a record of 339,000 contracts in December, representing a notional value of $9.4 billion [6] - BrokerTec U.S. Repo average daily notional value increased by 14% to $386 billion [6]

Core Insights - CME Group set a new single-day record for cryptocurrency futures and options trading with 794,903 contracts on November 21, surpassing the previous record from August, indicating a surge in demand for regulated crypto derivatives during volatile market conditions [1] Group 1: Trading Activity - The Chicago-based exchange has experienced a continuous increase in activity within its crypto suite throughout 2025, driven by both institutional and retail investors [2] - CME's year-to-date average daily volume (ADV) for crypto now stands at 270,900 contracts, valued at $12 billion in notional terms, reflecting a 132% increase compared to the same period last year [4] - In the fourth quarter of 2025, average daily volume has surged by 106% from the same period in 2024, reaching 403,200 contracts with a notional value of $14.2 billion [5] Group 2: Open Interest - Open interest, which represents the number of outstanding contracts, has risen by 82% year-over-year to 299,700 contracts, totaling $26.6 billion in notional value [4] - For the fourth quarter alone, open interest grew by 117%, totaling 493,700 contracts valued at $35.4 billion [5] Group 3: Market Demand - The increase in trading volume indicates a growing interest among investors for regulated exposure to crypto markets, even amidst ongoing uncertainty [6] - Giovanni Vicioso, CME's global head of cryptocurrency products, noted that the rising demand reflects the need for tools that assist in managing risk in an unpredictable market [2]

Core Insights - CME Group plans to offer 24/7 trading for its cryptocurrency products, including Bitcoin and Ethereum futures and options, starting in early 2026, pending regulatory review [1][2] - The demand for around-the-clock cryptocurrency trading has increased, driven by market participants' need to manage risk daily [2] - CME's cryptocurrency futures and options have reached record volumes this year, with notional open interest hitting $39 billion in mid-September and outstanding contracts increasing by 95% year-over-year [3] Group 1 - CME Group's cryptocurrency futures and options will be tradable 24/7 starting in early 2026, pending regulatory review [1] - The shift to 24/7 trading aligns CME more closely with crypto markets, although it will include a two-hour weekly maintenance period [2] - Client demand for continuous trading has grown, reflecting the evolving needs of market participants [2] Group 2 - CME's cryptocurrency products have seen record volumes this year, indicating a deeper integration of crypto into traditional finance [3] - Notional open interest reached a record $39 billion in mid-September, with outstanding contracts at 335,200 in August, marking a 95% increase year-over-year [3] - CME has been proactive in monitoring trading activities to prevent market manipulation, which is crucial for regulatory approvals [5]