CME Group’s International Volumes Hit Record High as Global Hedging Demand Accelerates
CME Group has reported a record-breaking year for international trading activity, with average daily volume (ADV) outside the United States reaching 8.4 million contracts in 2025, an 8% increase year-on-year. The milestone underscores the growing importance of CME’s global benchmarks as market participants across regions intensify their use of derivatives to manage risk amid persistent macroeconomic and geopolitical uncertainty.
The performance reflects broad-based growth across all major asset classes, led by sharp increases in Metals and Equity Index products, and highlights strong regional momentum in Europe, Asia Pacific, and Canada. It also reinforces CME Group’s position as the dominant global venue for institutional risk management across time zones.
According to CME Group, the international ADV figure captures all trading activity reported outside the U.S., offering a clear view of how global clients are increasingly engaging with its products as volatility, rate uncertainty, and reshape hedging strategies.
Regional Growth Highlights the Globalisation of Risk Management
In 2025, CME Group achieved all-time high international ADV records across Europe, the Middle East and Africa (EMEA), Asia Pacific (APAC), and Canada, reflecting the increasingly global nature of derivatives trading.
EMEA was the largest contributor, with climbing to a record 6.1 million contracts, up 6% from 2024. Growth was strongest in Equity Index products, which rose 25% year-on-year, followed closely by Metals at 23%. Agricultural products increased 8%, Energy rose 7%, and Interest Rate products edged up 1%, showing steady engagement even as rate markets remained structurally elevated.
Asia Pacific delivered the quickest growth among major regions, with ADV reaching 1.9 million contracts, up 13% year-on-year. The region saw particularly strong demand for Metals, where volumes surged 66%, alongside Energy at 32%, Agricultural products at 14%, and Interest Rates at 8%. This reflects heightened sensitivity to and currency-linked exposures across Asian economies.
Asset-Class Momentum Signals Shifting Hedging Priorities
Across international markets, the strongest came from Metals products, with ADV rising 37% compared to 2024. This surge mirrors ongoing volatility in industrial and precious metals driven by energy transition demand, supply chain realignments, and geopolitical risks affecting mining and refining capacity.
Equity Index products also recorded significant expansion, with international ADV up 20%. As uneven growth expectations, elevated valuations, and regional divergence, global investors increasingly turned to index futures and options to manage exposure efficiently across borders.
Energy products saw an 11% increase in international ADV, reflecting ongoing uncertainty in oil and gas markets linked to geopolitical tensions, supply discipline, and demand shifts. Agricultural products rose 9%, supported by weather-related risks, supply disruptions, and continued volatility in global food markets. Interest Rate products grew 2% internationally, a modest but notable increase given already high base volumes and the lingering impact of aggressive central bank tightening cycles.
At a global level, CME Group reported record overall ADV of 28.1 million contracts in 2025, up 6% from 2024. Interest Rate products remained the single largest driver, with ADV reaching a record 14.2 million contracts, up 4%. Metals ADV rose 34% globally, while Agricultural and Energy products each grew 8%.
Structural Demand Reinforces CME’s Global Strategy
CME Group’s international performance reflects more than short-term volatility; it signals a structural shift in how institutions approach global risk management. With trading activity increasingly distributed across regions and time zones, demand for deep, liquid, and transparent benchmarks has intensified.
Julie Winkler, Senior Managing Director and Chief Commercial Officer at CME Group, noted that clients outside the U.S. relied on the platform’s “global benchmarks and deep, around-the-clock liquidity” throughout 2025. This around-the-clock access has become critical as geopolitical developments and macro data releases increasingly occur outside traditional U.S. trading hours.
Canada also posted a record year, with ADV reaching 180,000 contracts, up 10% year-on-year. Equity Index volumes rose 23%, Interest Rates increased 6%, Agricultural products grew 3%, and Energy edged up 1%, reflecting diversified growth across asset classes. Latin America volumes were flat at 173,000 contracts, but the region still recorded strong gains in specific segments, including Foreign platform up 42% and Metals up 29%.
Looking ahead to 2026, CME Group expects risk management demand to remain elevated as markets contend with ongoing inflation dynamics, geopolitical fragmentation, and structural shifts in commodities and rates. The record international ADV achieved in 2025 positions CME to capture continued growth as global participants increasingly viewk scalable, regulated derivatives infrastructure to navigate uncertainty.
