CME Group has announced a milestone with open interest in its highly liquid U.S. Treasury futures reaching a new peak of 21,428,757 contracts. These U.S. Treasury futures, benefiting from margin offsets against CME Group's existing Interest Rate products, adhere to the rules of CBOT and are listed accordingly. This significant achievement marks a major development in the financial markets.

Before we delve into the details of this record-breaking event, it's important to understand how CME Group operates within this financial framework. CME Group provides the electronic central limit order book for all U.S. Treasury futures tenors, coexisting on the CME Globex platform with BrokerTec cash securities. In the current year, the notional value of open interest in CME Group U.S. Treasury futures expanded to $2.57 trillion, marking a 50% year-over-year surge, while the average daily volume (ADV) reached an unprecedented 5.5 million contracts, according to a press release by CME Group.

Moving on from numbers alone, let us consider some words shared by one of CME Group's key personnel about these impressive figures. "Throughout 2023, we have seen record volume and open interest in our U.S. Treasury futures, which offer market participants the most efficient and liquid products to hedge risk across the yield curve," said Agha Mirza, CME Group Global Head of Rates and OTC Products. "We are particularly pleased with the breadth of our market's liquidity profile and overall participation, as measured by large open interest holders in the CFTC's commitment of traders report. Amid our third consecutive year of record ADV, this indicates the market will remain deeply liquid while it continues to enable record risk transfer."

Lastly, let's explore the specific services and benefits offered by CME Group in relation to U.S. Treasury Futures and Options. CME Group offers U.S. Treasury Futures and Options across various tenors, including the 2-year, 5-year, 10-year, and 30-year options. These standardized contracts represent U.S. government notes or bonds, providing a range of strategies for managing or taking on risk associated with interest rate market exposure. CME Group also offers its Enhanced Cross Margin Program for Fixed Income Clearing Corporation (FICC), facilitating margin offsets between its suite of Interest Rate futures, particularly the highly liquid Treasury futures pool, and cash Treasuries cleared at DTCC’s Fixed Income Clearing Corporation (FICC), according to the U.S. Treasury Futures and Options webpage provided by CME Group.