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Global futures and options volume in the first half of 2003 gained 38

By Nicole Carpenter,2014-06-27 10:28
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Global futures and options volume in the first half of 2003 gained 38 ...

Volume Up Strongly in First Half of 2003

FOR IMMEDIATE RELEASE

    Washington, D.C. Sept. 12, 2003 At the end of the first half of 2003, global

    exchange-traded derivatives volume was running well ahead of 2002 and appears on the way

    to another record year. Global volume reached 3,825.1 million contracts in the first half of

    2003, up 38.3 percent over 2002 levels*, with global futures volume up 36.2 percent to

    1,436.1 million contracts and global options volume up 40.0 percent to 2,389.0 million

    contracts.

    Domestic futures and options trading increased 17.7 percent, to reach 1,031.0 million

    contracts traded in the first half of 2003. Domestic futures trading increased 28.0 percent, to

    reach 498.3 million contracts traded, and options trading increased 9.5 percent, to a total of

    532.7 million contracts.

    International volume was up 47.8 percent overall, to reach 2,794.1 million contracts

    traded. There was a 41.0 percent increase in futures trading, to a total of 937.8 million

    contracts, and a 51.5 percent increase in options trading, for a total of 1,856.3 million

    contracts traded in the first half of 2003.

    Some highlights of the first half of the year follow:

    ? U.S. equity index futures traded 143.3 million contracts, up 71.7 percent on the year.

    ? U.S. interest rate futures were up by 18.3 percent, to a total of 239.6 million

    contracts traded.

    ? International interest rate futures were up 41.4 percent to reach 554.3 million

    contracts traded.

    ? The Mexican Derivatives Exchange’s TIIE 28-day interest rate contract had the

    greatest absolute increase of any futures contract, up 59.8 million, almost tripling its

    first half 2002 volume.

    ? Global trading in security futures increased 22.6 percent to a total of over 22 million

    contracts traded worldwide in the first half of 2003.

    ? Gold futures gained a third at both the Tokyo Commodity Exchange and NYMEX

    in the first half of the year and now account for half of precious metals trading

    worldwide.

    ? Eurex’s Euro-Bund became the most actively-traded futures contract in the world,

    surpassing the CME’s Eurodollar futures contract.

     All volume data includes options on securities as well as futures and options on futures.

    All options data includes options on individual equities.

*Subtracting the KSE's options on the KOSPI 200, overall global trading volume increased 25.8 percent,

    up 291.7 million contracts over the first half of 2002.

    The FIA is a U.S.-based international association with members from all facets of the futures

    industry, including many international futures and options exchanges. The FIA has been collecting

    and disseminating U.S. volume since 1960 and non-U.S. volume since 1986.

    For further information, please contact Will Acworth (wacworth@futuresindustry.org) or

    Megan DeGrandis (mdegrandis@futuresindustry.org) at 202-466-5460.

    DOMESTIC VOLUME Jan-Jun 03 Jan-Jun 02 % Change TOTAL FUTURES 498,326,177 389,310,505 28.00% TOTAL OPTIONS ON FUTURES 112,449,712 103,438,471 8.71% TOTAL OPTIONS ON SECURITIES 420,244,138 383,246,442 9.65% GRAND TOTAL 1,031,020,027 875,995,418 17.70%

    DOMESTIC FUTURES Jan-Jun 03 Jan-Jun 02 % Change Interest Rate 239,588,704 202,593,303 18.3% Ag Commodities 41,736,639 37,534,801 11.2% Energy Products 46,640,214 45,497,324 2.5% Foreign Currency/Index 16,018,918 11,898,023 34.6% Equity Indexes 143,303,406 83,745,261 71.1% Individual Equities 1,153,846 0 N/A Precious Metals 7,952,529 6,275,566 26.7% NonPrecious Metals 1,604,008 1,381,303 16.1% Other 327,913 384,924 -14.8% TOTAL 498,326,177 389,310,505 28.00%

    DOMESTIC OPTIONS ON FUTURES Jan-Jun 03 Jan-Jun 02 % Change Interest Rate 87,468,351 78,318,834 11.7% Ag Commodities 8,294,980 7,850,870 5.7% Energy Products 10,762,426 12,415,394 -13.3% Foreign Currency/Index 1,189,677 1,127,774 5.5% Equity Indexes 2,820,898 2,412,157 16.9% Precious Metals 1,883,065 1,287,604 46.2% NonPrecious Metals 17,124 16,594 3.2% Other 13,191 9,244 42.7% TOTAL 112,449,712 103,438,471 8.7%

    DOMESTIC OPTIONS ON SECURITIES Jan-Jun 03 Jan-Jun 02 % Change Interest Rate 40,287 16,341 146.5% Foreign Currency/Index 134,904 242,508 -44.4% Equity Indexes 58,333,338 42,436,363 37.5% Individual Equities 361,735,609 340,551,230 6.2% TOTAL 420,244,138 383,246,442 9.7%

    INTERNATIONAL VOLUME Jan-Jun 03 Jan-Jun 02 % Change TOTAL FUTURES 937,831,111 665,025,183 41.0% TOTAL OPTIONS 1,856,282,611 1,224,995,696 51.5% GRAND TOTAL 2,794,113,722 1,890,020,879 47.8%

    INTERNATIONAL FUTURES Jan-Jun 03 Jan-Jun 02 % Change Interest Rate 554,309,282 392,083,583 41.4% Equity Indices 198,712,764 128,065,458 55.2% Ag Commodities 33,675,537 22,483,253 49.8% Energy Products 55,685,999 46,035,552 21.0% Foreign Currency/Index 13,290,509 10,141,721 31.0%

    Precious Metals 22,540,028 18,669,447 20.7% NonPrecious Metals 37,749,500 32,847,653 14.9% Other 780 0 N/A Futures On Individual Equities 21,866,712 14,698,516 48.8% TOTAL 937,831,111 665,025,183 41.0%

    INTERNATIONAL OPTIONS Jan-Jun 03 Jan-Jun 02 % Change Interest Rate 74,961,799 31,548,409 137.6% Equity Indices 1,519,718,774 886,940,047 71.3% Ag Commodities 691,071 537,771 28.5% Energy Products 52,930 120,371 -56.0% Foreign Currency/Index 5,876,692 8,534,901 -31.1% Precious Metals 123,982 103,646 19.6% NonPrecious Metals 1,671,021 1,297,372 28.8% Options on Individual Equities 253,186,342 295,913,179 -14.4% TOTAL 1,856,282,611 1,224,995,696 51.5%

Worldwide Derivatives Exchanges Ranked by Total Volume

    2003 2002

    Rank Rank Exchange Jan-Jun 2003 Jan-Jun 2002 % Change 1 1 KOREA STOCK EXCHANGE 1,405,786,455 777,294,181 80.86% 2 2 EUREX 524,403,336 367,791,231 42.58% 3 3 EURONEXT 352,695,059 352,479,690 0.06% 4 4 CHICAGO MERCANTILE EXCHANGE 315,027,698 259,213,466 21.53% 5 5 CHICAGO BOARD OF TRADE 210,784,599 153,124,464 37.66% 6 6 CHICAGO BOARD OPTIONS EXCHANGE 134,804,463 132,452,058 1.78% 7 8 INTERNATIONAL SECURITIES EXCH. 107,951,215 69,300,430 55.77% 8 14 MEXICAN DERIVATIVES EXCHANGE 101,536,066 35,255,218 188.00% 9 7 AMERICAN STOCK EXCHANGE 89,002,930 96,226,567 -7.51% 10 9 NEW YORK MERCANTILE EXCHANGE 68,813,981 66,865,355 2.91% 11 10 BM&F 52,500,450 57,060,651 -7.99% 12 12 PHILADELPHIA STOCK EXCHANGE 48,317,037 42,483,862 13.73% 13 13 THE TOKYO COMMODITY EXCHANGE 45,811,801 37,683,012 21.57% 14 11 PACIFIC STOCK EXCHANGE 40,168,493 42,783,525 -6.11% 15 16 STOCKHOLMSBÖRSEN 34,189,282 29,158,934 17.25% 16 15 LONDON METAL EXCHANGE 34,077,140 29,429,113 15.79% 17 19 SYDNEY FUTURES EXCHANGE 21,791,353 18,209,957 19.67% 18 17 TEL-AVIV STOCK EXCHANGE 18,775,446 22,164,528 -15.29% 19 21 SINGAPORE EXCHANGE 17,645,280 15,618,223 12.98% 20 20 CENTRAL JAPAN COMMODITY EXCH. 17,520,994 15,940,910 9.91% 21 18 MEFF 17,089,541 21,203,682 -24.07% 22 23 INTERNATIONAL PETROLEUM EXCH. 16,980,784 14,918,169 13.83% 23 33 SHANGHAI FUTURES EXCHANGE 16,869,980 3,864,813 336.50% 24 22 JSE SECURITIES EXCHANGE 15,547,615 15,117,083 2.85% 25 32 NATIONAL STOCK EXCHANGE OF INDIA 13,082,190 5,008,882 161.18% 26 24 NEW YORK BOARD OF TRADE 12,021,586 10,597,608 13.44% 27 25 OSAKA SECURITIES EXCHANGE 11,949,026 9,216,442 29.65% 28 34 TAIWAN FUTURES EXCHANGE 10,248,576 3,017,899 239.59%

    29 27 ITALIAN DERIVATIVES MARKET 9,688,727 8,010,577 20.95% 30 30 BOURSE DE MONTREAL 8,974,362 7,061,469 27.09% 31 28 TOKYO STOCK EXCHANGE 8,031,926 7,258,336 10.66% 32 26 TOKYO GRAIN EXCHANGE 7,538,529 8,400,133 -10.26% 33 29 KOREA FUTURES EXCHANGE 6,742,968 7,161,037 -5.84% 34 31 HONG KONG EXCHANGES & CLEARING 6,499,223 5,067,461 28.25% 35 36 OSAKA MERCANTILE EXCHANGE 3,002,457 2,404,371 24.87% 36 45 BUDAPEST COMMODITY EXCHANGE 2,131,663 725,890 193.66% 37 37 KANSAI COMMODITIES EXCHANGE 1,687,415 1,820,387 -7.30% 38 39 OSLO STOCK EXCHANGE 1,673,367 1,537,096 8.87% 39 41 KANSAS CITY BOARD OF TRADE 1,365,192 1,383,825 -1.35% 40 35 TIFFE 1,312,612 2,702,884 -51.44% 41 50 BUDAPEST STOCK EXCHANGE 1,117,986 393,860 183.85% 42 40 FUKUOKA FUTURES EXCHANGE 1,100,765 1,526,020 -27.87% 43 38 HELSINKI EXCHANGES 1,035,456 1,801,213 -42.51% 44 53 MERCADO A TERMINO DE ROSARIO 1,031,572 15,567 6526.66% 45 43 BROKERTEC FUTURES EXCHANGE 969,259 821,679 17.96% 46 42 WINNIPEG COMMODITY EXCHANGE 947,512 1,148,712 -17.52% 47 47 MALAYSIA DERIVATIVES EXCHANGE 912,407 514,091 77.48% 48 46 YOKOHAMA COMMODITY EXCHANGE 900,824 647,322 39.16% 49 N/A ONECHICAGO 685,333 N/A N/A 50 44 WIENER BÖRSE 632,485 731,703 -13.56% 51 48 MINNEAPOLIS GRAIN EXCHANGE 497,180 495,327 0.37% 52 N/A NQLX 468,763 N/A N/A 53 51 COPENHAGEN STOCK EXCHANGE 376,309 256,299 46.82% 54 49 NEW ZEALAND FUTURES EXCHANGE 274,783 403,833 -31.96% 55 52 MIDAMERICA COMMODITY EXCHANGE 142,298 247,252 -42.45%

Worldwide Exchanges Ranked by Volume in Futures Only

    (Excludes options on futures and options securities)

    2003 2002

    Rank Rank Exchange Jan-Jun 2003 Jan-Jun 2002 % Change 1 1 EUREX 350,544,899 241,474,078 45.2% 2 2 CHICAGO MERCANTILE EXCHANGE 255,558,212 202,076,768 26.5% 3 3 CHICAGO BOARD OF TRADE 173,209,436 122,881,179 41.0% 4 4 EURONEXT 137,612,324 102,932,987 33.7% 5 8 MEXICAN DERIVATIVES EXCHANGE 101,536,066 35,255,218 188.0% 6 6 NEW YORK MERCANTILE EXCHANGE 56,151,366 53,145,763 5.7% 7 5 BM&F 49,808,974 54,411,410 -8.5% 8 7 THE TOKYO COMMODITY EXCHANGE 45,811,801 37,683,012 21.6% 9 10 KOREA STOCK EXCHANGE 33,392,012 17,309,275 92.9% 10 9 LONDON METAL EXCHANGE 32,406,119 28,131,741 15.2% 11 11 SYDNEY FUTURES EXCHANGE 20,374,688 17,137,949 18.9% 12 13 SINGAPORE EXCHANGE 17,531,035 15,474,468 13.3% 13 12 CENTRAL JAPAN COMMODITY EXCH. 17,520,994 15,940,910 9.9% 14 14 INTERNATIONAL PETROLEUM EXCH. 16,927,854 14,797,798 14.4% 15 25 SHANGHAI FUTURES EXCHANGE 16,869,980 3,864,813 336.5% 16 15 OSAKA SECURITIES EXCHANGE 11,949,026 9,216,442 29.6%

    17 16 STOCKHOLMSBÖRSEN 11,492,106 9,177,357 25.2% 18 24 NATIONAL STOCK EXCHANGE OF INDIA 9,941,162 3,901,161 154.8% 19 17 NEW YORK BOARD OF TRADE 9,514,397 8,477,071 12.2% 20 19 MEFF 8,732,503 8,044,816 8.5% 21 18 TOKYO GRAIN EXCHANGE 7,523,015 8,366,783 -10.1% 22 21 TOKYO STOCK EXCHANGE 7,458,199 6,707,589 11.2% 23 20 KOREA FUTURES EXCHANGE 6,741,739 7,149,242 -5.7% 24 22 JSE SECURITIES EXCHANGE 6,714,726 5,053,900 32.9% 25 23 BOURSE DE MONTREAL 5,617,359 3,942,211 42.5% 26 26 ITALIAN DERIVATIVES MARKET 4,194,086 3,224,065 30.1% 27 28 TAIWAN FUTURES EXCHANGE 3,768,818 2,744,035 37.3% 28 27 HONG KONG EXCHANGES & CLEARING 3,599,054 2,931,001 22.8% 29 30 OSAKA MERCANTILE EXCHANGE 3,002,457 2,404,371 24.9% 30 38 BUDAPEST COMMODITY EXCHANGE 1,800,476 560,470 221.2% 31 31 KANSAI COMMODITIES EXCHANGE 1,685,963 1,818,623 -7.3% 32 29 TIFFE 1,312,612 2,702,884 -51.4% 33 34 KANSAS CITY BOARD OF TRADE 1,148,144 1,181,020 -2.8% 34 42 BUDAPEST STOCK EXCHANGE 1,117,986 393,460 184.1% 35 32 FUKUOKA FUTURES EXCHANGE 1,100,765 1,526,020 -27.9% 36 48 MERCADO A TERMINO DE ROSARIO 1,025,470 10,908 9301.1% 37 36 BROKERTEC FUTURES EXCHANGE 969,259 821,679 18.0% 38 35 WINNIPEG COMMODITY EXCHANGE 939,594 1,126,002 -16.6% 39 39 MALAYSIA DERIVATIVES EXCHANGE 912,407 514,091 77.5% 40 37 YOKOHAMA COMMODITY EXCHANGE 900,824 647,322 39.2% 41 33 HELSINKI EXCHANGES 865,191 1,426,791 -39.4% 42 N/A ONECHICAGO 685,333 n/a n/a 43 40 MINNEAPOLIS GRAIN EXCHANGE 478,969 479,870 -0.2% 44 43 OSLO STOCK EXCHANGE 476,803 382,292 24.7% 45 N/A NQLX 468,763 n/a n/a 46 45 COPENHAGEN STOCK EXCHANGE 296,183 206,774 43.2% 47 41 NEW ZEALAND FUTURES EXCHANGE 270,563 394,869 -31.5% 48 44 MIDAMERICA COMMODITY EXCHANGE 142,298 247,155 -42.4% 49 46 WIENER BÖRSE 68,153 98,948 -31.1% 50 47 TEL-AVIV STOCK EXCHANGE 6,283 13,373 -53.0%

Top 20 Exchange-Traded Derivatives

    Contracts Worldwide Contract Exchange Jan-June 2003 Jan-June 2002 % Change KOSPI 200 Options KSE 1,372,386,296 759,944,564 80.59% Euro-Bund Futures Eurex 129,319,856 89,981,676 43.72% Eurodollar Futures CME 100,083,044 106,561,159 -6.08% TIIE 28 Futures MexDer 93,002,327 33,228,838 179.88% E-mini S&P 500 Futures CME 83,441,359 40,379,553 106.64% Euro-Bobl Futures Eurex 78,297,310 53,894,518 45.28% Euribor Futures Euronext 70,118,045 46,833,898 49.72% 10-year T-Note Futures CBOT 66,531,238 39,787,548 67.22% DJ Euro Stoxx 50 Futures Eurex 62,004,160 30,854,263 100.96% Euro-Schatz Futures Eurex 59,605,299 51,361,289 16.05%

    Eurodollar Options CME 55,084,070 53,367,764 3.22% CAC 40 Options Euronext 36,290,586 43,646,917 -16.85% Euribor Options Euronext 33,600,934 11,453,249 193.37% KOSPI 200 Futures KSE 33,392,012 17,309,275 92.91% 5-year T-Notes Futures CBOT 33,204,590 22,367,869 48.45% E-mini Nasdaq 100 Futures CME 32,098,946 24,585,331 30.56% DJ Euro Stoxx 50 Options Eurex 30,910,060 13,009,341 137.60% 30-year T-Bond Futures CBOT 30,452,686 27,205,022 11.94% Interest Rate Futures BM&F 24,075,783 27,345,324 -11.96% Crude Oil Futures NYMEX 22,960,232 22,483,328 2.12%

TOTAL FUTURES AND OPTIONS VOLUME

    (In millions)

    YEAR US Exchanges Non-US Exchanges TOTAL

    Jan-Jun 1999 537.62 634.44 1,172.06

    Year-End 1999 1,100.86 1,304.94 2,405.80

    Jan-Jun 2000 677.48 825.72 1,503.20

    Year-End 2000 1,313.65 1,675.80 2,989.45

    Jan-Jun 2001 802.84 1,169.11 1,971.95

    Year-End 2001 1,578.63 2,803.82 4,382.45

    Jan-Jun 2002 876.00 1,890.02 2,766.02

    Year-End 2002 1,844.89 4,148.81 5,993.70

    Jan-Jun 2003 1,031.02 2,794.11 3,825.13

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