CME Group, a derivatives marketplace, has announced that open interest in its deeply liquid SOFR complex set a new record of 60,435,467 contracts on December 12, including 48.3 million options contracts and 12.1 million futures contracts.
Average daily volume (ADV) in SOFR futures and options this year also reached a record 5.1 million contracts
SOFR futures and options have broad participation from global banks, hedge funds, asset managers, principal trading firms and other types of traders. These contracts are also eligible for portfolio margining against other cleared interest rate swaps and futures.
CME Group launched SOFR futures in May 2018 and SOFR options in January 2020.
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