CME Group Profit Rises as Trading Volume Grows

CME Group Inc. said its earnings rose 23% as trading volume picked up in the third quarter.

The company's profit exceeded expectations.

CME Group, which is the largest futures exchange operator in the world in terms of contracts traded, posted a 12% increase in trading volume during the period, reflecting an average of about 13.5 million contracts a day. CME said interest rate volume rose 23% to a daily average of 7.2 million contracts.

The company said it enjoyed record overall options volume and record volume from outside the U.S., which also accounted for 60% of quarterly volume growth.

"In addition, the momentum has continued, and October is on track to have the highest monthly volume in our history," Executive Chairman Terry Duffy said, adding that there has been "significant client demand during a more volatile period."

Overall, CME Group posted earnings of $290 million, or 86 cents a share, up from $236.7 million, or 71 cents a share, in the prior-year period. Excluding items, the company's per-share earnings were 84 cents.

Revenue rose 6.7% to $762.4 million.

Analysts had expected 83 cents a share in earnings to go along with $765 million in revenue.

Revenue from clearing and transaction fees improved 7.3% to $641.8 million. Market data and information-services revenue rose 12% to $87.7 million.

Write to Michael Calia at [e-mail]

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