CME Group Reports Robust Q3 2024 Results: Record Revenue and ADV

CME Group, the world's leading derivatives marketplace, reported financial results for the third quarter of 2024 (Q3 2024) on Wednesday, with a revenue of $1.6 billion and an operating income of $1.0 billion generated. 

Net income stood at $913 million and diluted earnings per common share were $2.50. On an adjusted basis, net income was $977 million, with diluted earnings per common share at $2.68.

Third-quarter 2024 saw a record Average Daily Volume (ADV) of 28.3 million contracts, including record non-U.S. ADV, with EMEA rising 30% and Asia 28% compared to the same period last year.

Revenue from clearing and transaction fees for Q3 2024 totaled $1.3 billion, with a total average rate per contract of $0.666. Market data revenue reached $178 million for the quarter.

"Q3 2024 was the best quarter in CME Group history, with records across volume, revenue, adjusted operating income, adjusted net income, and adjusted earnings per share," said Terry Duffy, Chairman and Chief Executive Officer, CME Group. "This marks the second consecutive quarter of volume and open interest increases across every asset class. Our financial product volumes rose 28%, reflecting a 36% jump in interest rates to a record ADV of 14.9 million contracts. This was driven by a 35% rise in SOFR futures to a record ADV of 4.1 million contracts and 31% growth in Treasuries to a record ADV of 8.4 million contracts. In addition, our commodities volume was up 20%, options increased 27% and international ADV was a record 8.4 million contracts."

As of September 30, 2024, CME Group reported approximately $2.6 billion in cash (including $250 million deposited with Fixed Income Clearing Corporation, which is included in other current assets) and $3.4 billion in debt. The company paid out dividends of approximately $419 million during Q3 2024 and has returned about $25.6 billion to shareholders through dividends since implementing its variable dividend policy in early 2012.