(Reuters) – CME Group (NASDAQ: ) reported a rise in third-quarter profits on Wednesday, as uncertainty over the path to U.S. monetary policy led investors to reshuffle their portfolios, boosting exchange rates.
Investors are turning to CME's hedging products to manage risks arising from increased uncertainty, including that from escalating regional conflicts in the Middle East, which has fueled double-digit growth across all CME asset classes.
CME's average daily volume (ADV) interest rose 36% to a quarterly record of 14.9 million contracts from a year ago.
The company's total ADV touched a record quarter of 28.3 million contracts, up 27% from last year.
Clearing and transaction fees, CME's biggest source of revenue, jumped 19.5% to $1.30 billion in the quarter.
Net income attributable to CME Group common shareholders rose to $901.3 million, or $2.50 per share, in the three months ended Sept. 30, from $740.8 million, or $2.06 per share, a year earlier.
