New York 03/04/2012 - CME Group metals volume averaged 385,000 contracts per day in the first quarter, a two-percent increase on the first three months of 2011 but a sizeable 22-percent uptick from the fourth quarter of last year, it said.

But metals remain only a small slice of CME's total cross-product volume. Average daily volume (ADV) for all products - interest rates, equities, forex, energy, agricultural commodities and metals - for the quarter came in at 12.3 million contracts, up five percent from the fourth quarter of 2011 but down 11 percent from first quarter of last year, CME said.

ADV in March was 12.5 million contracts, down 13 percent from March 2011. Total volume for the month was more than 275 million contracts, of which 84 percent was traded electronically, it added.

Open interest at the end of March 2012 reached 89.7 million contracts, up 15 percent from the end of 2011 with year-to-date growth especially strong in agricultural commodities at 28 percent, interest rates at 20 percent and equity indices at 19 percent, it added.

CME trades copper, gold and silver through its Comex metals division. It also bought the New York Mercantile Exchange (Nymex) in August 2008, where contracts include platinum and palladium.

It also trades hot-rolled coil (HRC) and iron ore swaps on CME ClearPort and has announced plans to roll out over-the-counter metals contracts in Europe.


(Editing by Mark Shaw)

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