CME Group Inc (NASDAQ:CME) Reports 300% Increase In Coal Futures Trading
CME Group Inc (NASDAQ:CME), the $24.9 billion market capped operator of both “exchange-traded and over-the-counter derivatives” announced today that the past year 2013 has transpired to be a record year for its coal futures. It recorded a 300 percent increase in coal futures trading in the past calendar year in comparison to 2012 trading volume.
Releasing the data for the past year’s performance, CME Group Inc (NASDAQ:CME) has highlighted that, “Our volumes have continued to grow in line with demand for coal as the fuel of choice in global energy markets. This international coal volume comes from non-US CME Group coal products as follows: Coal (API2) CIF ARA (ARGUS-McCloskey) Futures, Coal (API4) FOB Richards Bay (ARGUS-McCloskey) Futures, Coal (API 5) fob Newcastle (Argus/McCloskey), Indonesian Coal (McCloskey sub-bituminous), and Coal (API 8) cfr South China (Argus/McCloskey) Futures”.
Some of the highlights from today’s announcement are being furnished here for readers benefit.
- The record last year for the highest number of coal contracts in a single day was 13,935 contracts which were recorded on 3 September. Similarly, the monthly record was set in October of last year during which 171,988 contracts were traded. Even more impressive was the increase that the annual open interest for coal, recorded in the past 12 months. It recorded 118,448 contracts last year, compared to 47,215 contracts which were signed off in 2012.
- In the just concluded calendar year 2013, total volume of U.S coal futures was 2,69,688 which is well above the 2,29,919 contracts that had been achieved in 2012.
Reverses Stock Market Weakness
On the back of these positive numbers being reported CME Group Inc (NASDAQ:CME) stock has gained 0.54 percent during trading in the first hour of trading today. This uptake in the stock valuation reverses the month long weakness the stock has been exhibiting at the browsers.