 "CME Group's profit for Q2 rises 11% on futures and options growth")
Exchange operator CME Group's second-quarter profit jumped 11 per cent, helped by growth in futures and options contracts.
Latest economic data showing signs of easing inflation has fueled hopes of a possible rate cut in the current half of the year that has helped markets reach new highs.
"As escalating uncertainties drove an increased need for risk management across all asset classes, CME Group achieved record Q2 volume and generated record revenue, adjusted net income and adjusted earnings per share," Chairman and Chief Executive Officer Terry Duffy said in a statement.
"As escalating uncertainties drove an increased need for risk management across all asset classes, CME Group achieved record Q2 volume and generated record revenue, adjusted net income and adjusted earnings per share," Chairman and Chief Executive Officer Terry Duffy said in a statement.
CME Group's average daily volume (ADV) grew 13.5 per cent year over year to 25.9 million contracts per day.
Clearing and transaction fees, from which CME makes the most of its revenue, was up nearly 12 per cent to $1.25 billion. Its total revenue rose nearly 13 per cent to $1.53 billion.
On an adjusted basis, net income rose to $932.2 million, or $2.56 per share, in the quarter, from $836.4 million, or $2.30 per share, a year earlier.
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