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CME Group's BrokerTec Achieves Unprecedented Trading Volume

In a remarkable feat, CME Group has announced that BrokerTec, its electronic trading platform, achieved a stunning record of $1.05 trillion in average daily notional volume (ADNV) on March 3, 2025. This milestone marks a significant leap from its previous average of $909 billion in February 2025, showcasing the platform’s growing dominance in the marketplace and the heightened activities of its clients amid fluctuating financial conditions.

Context of the Record

The surge in trading volume reflects increased reliance by clients on BrokerTec for its highly liquid marketplace, particularly during turbulent economic times. The record trading day was driven primarily by substantial trading in various products, including U.S. Treasuries, U.S. per Repo, and European Government Bonds. The volumes on March 3 included:

• - U.S. Repo Trading: $407 billion ADNV, marking the second-highest volume day for U.S. Repo history.
• - EU Repo Trading: €350 billion ADNV.
• - U.S. Treasuries: $137 billion ADNV.

These individual product records emphasize BrokerTec's role as a pivotal trading venue for institutional clients.

Insights from the Leadership

John Edwards, Global Head at BrokerTec, elaborated on the record-setting performance, noting, “During periods of market uncertainty, clients depend on BrokerTec's highly liquid benchmark cash Treasuries and Repo markets.” He further explained that the spike in trading was due to activity in their cash Repo dealer-to-dealer central limit order book (CLOB). This distinct feature empowers clients to secure short-term funding, manage their collateral adeptly, and mitigate their risk effectively in a volatile environment. Edwards also highlighted the development of the BrokerTec Quote platform and the growing momentum in the BrokerTec Stream offering as contributors to this record volume.

The Role of CME Group

CME Group, as the leading derivatives marketplace globally, provides opportunities for clients to engage with a broad suite of futures, options, cash, and OTC markets. Its vast array of products encompasses several asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals. The company's commitment to optimizing portfolios and data analysis empowers participants worldwide to control risk while seizing market opportunities.
Automation in transactions and an efficient trading environment through the CME Globex platform enhance CME Group's appeal as a primary venue for market transactions. Furthermore, BrokerTec facilitates fixed-income trading, and foreign exchange activities are catered to through EBS, significantly broadening the marketplace offerings.

Conclusion

CME Group's record-breaking trading volume through BrokerTec is not just a number; it is a testament to the resilience and adaptability of the platform amid the economic landscape's dynamics. As institutional clients look for robust trading options during uncertainty, BrokerTec's continuing evolution signifies a bright future for electronic trading and the derivatives market at large. For more information about BrokerTec and its offerings, visit cmegroup.com/brokertec.