CME Group set a new monthly average daily volume (ADV) record of 37.6 million contracts in February, the exchange said on Tuesday. The figure represents a 14% increase year over year.
The previous monthly ADV record was 35.9 million contracts, set in April 2025. Growth in February was broad-based, with records falling across interest rates, agriculture and international trading.
Rates did the heavy lifting
Interest Rate ADV hit 21.3 million contracts, up 11% year over year and accounting for roughly 57% of total volume. U.S. Treasury futures and options reached a record ADV of 13.7 million contracts.
SOFR futures and options ADV increased 25% to 7.1 million contracts, while 30-Day Fed Funds futures ADV rose 24% to 512,000 contracts as speculators tracked potential shifts in monetary policy.
CME’s BrokerTec venue also hit a record, with overall average daily notional value (ADNV) rising 16% to $1.042 trillion. U.S. Repo ADNV increased 18% to $383 billion.
Metals was the growth outlier
Metals ADV reached 1.5 million contracts, up 88% year over year. Micro Gold futures ADV rose 290% to 573,000 contracts, while Micro Silver futures ADV jumped 865% to 205,000 contracts. Gold prices remained elevated near $4,990/oz during the month, according to CME’s metals options commentary.
Equity Index ADV climbed 16% to 8.4 million contracts. Micro products accounted for 47.3% of overall Equity Index ADV, with Micro E-mini Nasdaq-100 futures up 37% to 2.2 million contracts and Micro E-mini S&P 500 futures up 28% to 1.4 million contracts.
Crypto volumes grew, 24/7 trading ahead
Cryptocurrency ADV increased 45% to 322,000 contracts, or $9.3 billion in daily notional value. The growth comes weeks after CME announced plans to launch 24/7 trading for regulated cryptocurrency futures and options on May 29, pending regulatory review.
“Client demand for risk management in the digital asset market is at an all-time high, driving a record $3 trillion in notional volume across our Cryptocurrency futures and options in 2025,” said Tim McCourt, Global Head of Equities, FX and Alternative Products at CME Group.
International ADV also reached a record at 11.6 million contracts. Europe, Middle East and Africa (EMEA) ADV hit a record 8.7 million contracts, while Asia-Pacific (APAC) ADV rose 16% to 2.4 million contracts.
