CME Group named Exchange of the Year in 2018 Risk and FOW Awards
OREANDA-NEWS. CME Group, the world's leading and most diverse derivatives marketplace, today announced the company was named 'Exchange of the Year' at the 2018 Risk Awards. In addition, CME Group was named 'US and Canada Exchange of the Year' and 'Trade Repository of the Year' by FOW in its annual international awards. Both sets of awards seek to showcase the work of firms and individuals in the derivatives markets and risk management and are widely recognised as being the most prestigious in the industry.
"We are honored to be selected for these awards, particularly as they reflect feedback from our clients and cement our position as a leader in the global derivatives marketplace," said Terry Duffy, CME Group Chairman and Chief Executive Officer. "This recognition demonstrates that we are delivering on our commitment to provide clients with the risk management solutions they need to navigate volatile market conditions and the ability to react to international events around the clock."
The Risk Awards recognised CME Group for its approach in seeking to include all clients in discussions around risk management, product design and price discovery. Equally noteworthy were the successful launches of several new products including Wednesday Weekly Treasury Options which offer greater precision for trading and hedging mid-week during major events. Volumes are growing for the short-dated, weekly options across all asset classes. Average daily volume is 596,503 contracts up 48% compare to the whole of 2016 and they account for 17% of total options volume which is up from 13% the previous year.
Among other achievements, FOW's judges flagged the record levels of open interest across the franchise as well as the performance of global benchmarks such as WTI which hit an average daily volume of 1.5 million contracts during the judging period. The exchange also saw the return of the Russell 2000 futures with 91% of open interest switching to the market since its launch in July 2017. CME Global Repository Services (GRS) was rewarded for its impressive period of growth and innovation. GRS distinguished itself in 2017 with its focus on the simplicity and certainty of its commercial policies that help the industry as they cope with a steady stream of regulatory change and escalating costs.
Entries for the Risk Awards are judged by the editorial team, with the assistance of external industry experts and supplemented by feedback from clients. The FOW International Awards are judged by a panel of industry experts drawn from across the market across a range of disciplines.
As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. Around the world, CME Group brings buyers and sellers together through its CME Globex® electronic trading platform. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing, which offer clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth.