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CME Group Inc
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Latest analysis
Updated Oct 23, 2026
CME Group Q3 2026: 16% volume surge across all asset classes drives 13% revenue growth as geopolitical volatility and Fed rate hike fuel record trading activity
CME Group delivered Q3 2026 total revenue of $1.74 billion, up 13% year-over-year, driven by a 16% increase in aggregate average daily volume to 29.4 million contracts — the broadest-based volume expansion in recent quarters, with every product line posting double-digit gains. The Federal Reserve's first rate hike in over three years catalyzed Treasury complex volumes (10-Year futures +27% ADV), while AI spending skepticism drove E-mini Nasdaq-100 futures +73% in Q3. Operating margin expanded 240 basis points to 65.7%, as revenue growth outpaced a 5% expense increase, with technology costs rising 13% to support the ongoing Google Cloud transformation.
Tone: bullishRevenue
$6.5B
CME 10-K · FY 2025
Employees
3,875
Revenue FY2024
$6.1B
Headquarters
Chicago, Illinois
Profile
CME 10-K Item 1 · Feb 26, 2026CME Group Inc. operates the world's largest derivatives marketplace, offering futures, options, cash and OTC products across interest rates, equity indexes, FX, agricultural commodities, energy, metals and cryptocurrencies. The company also provides central counterparty clearing, cash fixed income and spot FX trading via BrokerTec and EBS, and a growing data services business. Its platforms serve professional traders, financial institutions, corporations, governments and central banks globally.
Read filing description ↓ Collapse description ↑
CME Group enables clients to trade futures, options, cash and over-the-counter (OTC) products, optimize portfolios and analyze data - empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group provides primary price discovery and referential pricing information through its market data in a variety of formats, including real-time, historical and derived data for customers in both listed and cash products. CME Group also offers industry-leading research and analytics tools to provide customers with market education resources. In addition, it operates one of the world's leading central counterparty clearing providers. CME Group exchanges offer the widest range of global benchmark products across interest rates, equity indexes, foreign exchange (FX), and agricultural, energy and metals commodities. We also offer cash and repo fixed income trading via BrokerTec, and spot and OTC FX trading via EBS. Our broad set of products offered on our derivatives exchanges (CME, CBOT, NYMEX and COMEX) are important risk management tools for our clients around the globe. We believe our customers value the diversity of our products, liquidity, price transparency and technological capabilities. Through our derivatives clearing house, we provide clearing and settlement services for a broad range of exchange-traded futures and options on futures contracts, exchange-traded swaps and OTC derivatives. In December 2025, our subsidiary, CME Securities Clearing Inc. (CMESC) received approval from the U.S. Securities and Exchange Commission (SEC) to become a securities clearing agency.
Primary products
- Interest Rate futures and options (SOFR, U.S. Treasury, Federal Funds)
- Equity Index futures and options (E-mini S&P 500, E-mini Nasdaq 100, E-mini Russell 2000)
- Foreign Exchange futures and options (Euro, Japanese yen, British pound, Australian dollar)
- Agricultural Commodities futures and options (corn, soybean, wheat, livestock)
- Energy futures and options (WTI crude oil, natural gas, refined products)
- Metals futures and options (gold, copper, silver)
Business segments
End markets
Geographies
Named customers
One firm represented 12% of our clearing and transaction fees revenue for 2025.
Named competitors
“We compete in a large and expanding financial services trading, clearing and settlement marketplace globally. Our competitors include, among other entities, exchanges such as Intercontinental Exchange, Inc. (ICE), Cboe Global Markets (Cboe), Euronext N.V., the Hong Kong Exchanges and Clearing Limited (HKEX), and Deutsche Borse AG.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues grew from $6,130.1 million in 2024 to $6,520.6 million in 2025, driven by growth in clearing and transaction fees and market data and information services.
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