Derivatives Exchanges FMX Aug 4 Total Daily Volume of 89,720 with OI of 154,750

Research evidence excerpt

J P M O R G A N

North America Equity Research

05 August 2026

Derivatives Exchanges

FMX Aug 4 Total Daily Volume of 89,720 with OI of

154,750

We observed 89,720 total futures contracts traded on August 4 at the FMX Futures

Exchange, with 154,750 contracts of open interest (OI) at session-end. The closing

level of OI on August 4 jumped 3.9% from the previous trading session (148,970).

FMX U.S. Treasury futures had 8,322 contracts of OI outstanding as of August 4

with 56,324 UST contracts traded yesterday—a new record high, but note this total

now includes the 10yr, 10yr Ultra, 30yr, and 30yr Ultra contracts. We reiterate that

the focus continues to be on onboarding more FCM activity, which, in turn, may

attract greater buy-side involvement.

Brokers, Asset Managers &

Exchanges

(1-212) 622-3619

J.P. Morgan Securities LLC

More products along the UST curve seem to have launched this week.

Recall, yesterday we noticed that, for the first time ever, there were 10yr, 10yr

Ultra, 30yr, and 30yr Ultra contracts’ volumes in the FMX daily volume report

on Monday August 3, suggesting to us that FMX has launched more tenors

along the UST curve. While FMX launched its Treasury franchise with just 2yr

and 5yr contracts in ~ May 2025—starting with just shorter dated tenors for

liquidity and speed-to-market reasons—we have known that FMX maintained

ambitions to eventually support the whole Treasury curve in the pursuit of

maximum capital efficiency. Recall, the 10yr contract is CME’s largest in its

Treasury futures franchise with a 2026TD ADV of ~2.5mn contracts (vs. CME

3mo SOFR ADV of ~4.3mn contracts).

(1-212) 622-6613

Madeline Daleiden

(1-212) 622-4911

Michael Cho

See other FMX-related research:

Derivatives Exchanges: FMX UST Futures’

Contract Specs Now Available; May 15

Daily Volume of 2,524 with OI Reaching

Record High

Derivatives Exchanges: FMX First

Contracts Begin Trading with a Whisper

Rather than a Bang (September 24, 2024)

Figure 1: Monthly Summary of Total Activity at FMX Futures Exchange

250,000

Kenneth B. Worthington, CFA AC

# of contracts

Total Ending OI

Total ADV

CME Group, Inc: FMX a Credible New

Entrant to US Rates Futures Trading –

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