CME Group posts record October trading volume as U.S. rates products drive 15% growth

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CME October trading record

Highlights

CME Group's October 2026 average daily volume rises 15% year over year to a record level, led by 14.8 million interest rate contracts.
U.S. Treasury futures and options average daily volume jumps 48% to 9.2 million contracts, with benchmark tenors up between 50% and 58%.
BrokerTec posts an 18% increase in average daily notional to $1.127 trillion, including record $419.5 billion in U.S. repo, while EBS Spot FX rises 9% to $62.3 billion.

October volume growth across key asset classes

As reported by CME Group, the exchange operator's average daily volume rises 15% year over year in October 2026, surpassing the previous October record of 26.3 million contracts set in 2025. Interest rate products account for 14.8 million contracts, followed by equity index at 8.8 million, energy at 2.7 million, agricultural products at 2.1 million, foreign exchange at 985,000, metals at 805,000 and cryptocurrency at 145,000 contracts, equal to $7.85 billion in notional value.

Within rates, U.S. Treasury futures and options average daily volume climbs 48% to 9.2 million contracts. Trading in benchmark contracts also expands sharply, including 10-Year U.S. Treasury Note futures, up 58% to 2.7 million contracts, 5-Year notes, up 50% to 1.8 million, 2-Year notes, up 51% to 1.1 million, and 30-Year U.S. Treasury Bond futures, up 52% to 625,000 contracts.

Equity index volume increases 15%, helped by a 74% jump in Micro E-Mini Nasdaq-100 futures to 2.9 million contracts, while E-Mini Nasdaq-100 options rise 32% to 131,000 contracts. Energy volume edges up 1%, with Micro WTI Crude Oil futures surging 221% to 190,000 contracts, and agricultural trading advances 7%, supported by a 21% increase in corn futures to 478,000 contracts and a 7% rise in soybean meal futures to 198,000 contracts.

Regional and platform activity adds to momentum

International average daily volume grows 9% to 9 million contracts, with EMEA up 7% to 6.3 million and APAC up 15% to 2.3 million. CME Group also says micro products remain a significant part of activity, with Micro E-mini Equity Index futures and options representing 50% of total equity index volume, while Micro Energy futures account for 7.4% of overall energy volume and Micro Metals futures make up 51% of metals volume.

Activity in related trading platforms also strengthens. BrokerTec's overall average daily notional value increases 18% to $1.127 trillion, including a record $419.5 billion in U.S. repo, a 19% rise in European repo to €358 billion, and a 50% increase in U.S. Treasury average daily notional value to $120 billion. EBS Spot FX average daily notional value climbs 9% to $62.3 billion.

The figures point to broad-based participation across rates, equities, commodities and foreign exchange as market users manage risk and liquidity through listed derivatives and electronic cash trading platforms. CME Group adds that customer average collateral balances for the rolling three months ending September 2026 stand at $147 billion for cash collateral and $166.9 billion for non-cash collateral.

In our earlier article on surging long-term U.S. Treasury yields and the widening fiscal deficit, we explained how borrowing costs above 5% are filtering through to mortgage rates, federal interest expenses, and broader financing conditions. We also outlined how expectations of sustained heavy Treasury issuance, combined with political gridlock that limits near-term deficit reduction, are keeping pressure on long-dated yields and tightening liquidity across markets.

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