The recent regional banking failures along with the U.S. Federal Reserve’s continued rate hike cycle has roiled markets, pushing demand for hedging tools in an increasingly uncertain macroeconomic environment as investors try to dump risky assets.
“As global market participants sought to manage risk across asset classes, we saw a flight to futures,” Terry Duffy, CME Group’s (NASDAQ:CME) chief executive officer, said.
CME’s clearing and transaction revenue in the quarter ended March 31 rose 5.5% to $1.2 billion.
The exchange operator’s average daily volumes in the first quarter were 26.9 million contracts.
On an adjusted basis, net income for the quarter was $882 million, or $2.42 per share, compared with $766 million, or $2.11 per share, a year earlier.
Source: Economy - investing.com
