CHICAGO, Feb. 15, 2017 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced Copper futures open interest surpassed 300,000 contracts for the first time on Monday, February 13, 2017. Copper ended the trading session with a total of 300,996 contracts open interest, surpassing the previous record of 297,830 set on February 1, 2017.
"Copper and other industrial metals have continued to experience heightened levels of volatility and uncertainty," said Young-Jin Chang, CME Group Global Head of Metals. "Increasingly market participants are using our deep, liquid COMEX Copper futures to hedge their price risk as evidenced by multiple open interest records and volume growth year to date."
Since the start of 2017, Copper futures have clocked 14 open interest records, including 11 consecutive record days. Copper futures are listed by and subject to the rules of COMEX.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. Through its exchanges, CME Group offers 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. CME Group provides electronic trading globally on its CME Globex platform. The company also offers clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives through its clearinghouses CME Clearing and CME Clearing Europe. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth.
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SOURCE CME Group