Exchange Volumes Update Week of June 19 - June 25: Slowdown in Volumes this Week Around Juneteenth with 2Q26 Trends Mixed; Derivatives’ Volumes Lower, OI Higher

Research evidence excerpt

Exchange Volumes Update Week of June 19 - June 25: Slowdown in Volumes this Week Around Juneteenth with 2Q26 Trends Mixed; Derivatives’ Volumes Lower, OI Higher

J P M O R G A N North America Equity Research

26 June 2026

Exchange Volumes Update

Week of June 19 - June 25: Slowdown in Volumes this

Week Around Juneteenth with 2Q26 Trends Mixed;

Derivatives’ Volumes Lower, OI Higher

Daily industry volumes for the week of June 19 through June 25 were mostly lower, Brokers, Asset Managers &

with Friday June 19 being a U.S. federal holiday, Juneteenth, when some markets Exchanges

were closed. As we near the end of calendar 2Q26, QTD ADVs are mixed across Kenneth B. Worthington, CFA AC

different exchanges and asset classes. The derivatives exchanges’ — ICE and CME— (1-212) 622-6613

ADVs are tracking lower, down 30% and 19% sequentially, but open interest remains kenneth.b.worthington@jpmorgan.com

robust, up 20% and 11% y/y, respectively. Industry options’ ADV are tracking 6% Madeline Daleiden

higher q/q, but cash equities volumes are flat q/q 2Q26TD. See Table 1 below for more (1-212) 622-4911

details on these trends. madeline.daleiden@jpmchase.com

Michael Cho

(1-212) 622-3619• CME trading volumes ended the week lower with volumes down 7.5%

WoW, dragged by lower Equities volumes. CME QTD volumes are down 1.5% michael.cho@jpmchase.com

vs. full quarter 2Q25, dragged by 12.5% decline in Energy and 10.1% in J.P. Morgan Securities LLC

Foreign Exchange. CME OI is up 10.9% on a YoY basis, led by 31.7% increase

in Agricultural Commodities and 23.1% in Foreign Exchange.

• ICE F&O volumes were lower this week, with volumes down 9.0% WoW,

dragged by lower Financials volumes. ICE QTD volumes are up 0.2% on a YoY

basis, led by 36.2% increase in Agriculture and Metals. ICE OI is up 20.0% on