CHICAGO - CME Group (market cap: $83.79 billion), a major derivatives marketplace with robust 13% revenue growth over the last twelve months, announced today that it will observe an early closure of its markets on Thursday, January 9, 2025, in honor of the National Day of Mourning for former President Jimmy Carter. According to InvestingPro analysis, the company maintains strong financial health with a "GOOD" overall rating. The decision affects agricultural, equity, and interest rate markets, with U.S. equity markets set to close at 8:30 a.m. CT. Equity options that would expire on January 9 are rescheduled to expire the previous day, January 8.
Interest rate and agricultural markets will also see an early end to trading at 12:15 p.m. CT on the same day. BrokerTec U.S. Repo and Treasury products are slated for an early closure at 2:30 p.m. CT and 1:30 p.m. CT, respectively.
However, CME Group's (NASDAQ:CME) cryptocurrency, energy, foreign exchange, and metals markets, as well as products traded on the EBS platform, will not be affected by this change and will operate under normal trading hours.
Following the early closure, all products trading on the CME Globex electronic trading platform will resume at their regularly scheduled times on January 9 for the trade date of January 10.
CME Group is known for offering a wide range of global benchmark products across various asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals. The company provides futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec, and foreign exchange trading on the EBS platform. With a notable 4.45% dividend yield and a 22-year track record of consistent dividend payments, CME Group demonstrates strong shareholder returns. Discover more insights about CME Group's performance metrics and 7 additional ProTips with an InvestingPro subscription, including access to comprehensive Pro Research Reports covering 1,400+ top stocks.
This schedule change is a mark of respect for the late President Carter, and traders are advised to plan accordingly. The full trading schedule for January 9 is available for those interested in the details of the early closure. This information is based on a press release statement from CME Group.
In other recent news, CME Group has made several significant announcements. The company reported a record-setting third quarter with an adjusted EPS of $2.68 and revenue of nearly $1.6 billion, an 18% rise from the same quarter in 2023, driven by a 27% increase in average daily volume and a 36% rise in interest rate trading volume. Following these results, Oppenheimer maintained an Outperform rating on CME Group shares, increasing the price target to $258, while BofA Securities maintained an Underperform rating, adjusting its price target to $181.
CME Group also announced changes to its collateral fee schedule and pricing for clients, a routine aspect of its operations reflecting ongoing efforts to align charges with market dynamics and the cost of managing risk. Additionally, the company plans to launch a 1-Ounce Gold futures contract in 2025, pending regulatory approval, to cater to the growing retail interest in gold investments.
CME Group has received approval from the National Futures Association to establish its own futures commission merchant, a strategic move aimed at adapting to evolving client needs. Furthermore, the company reported a significant trading volume for October 2024, with an average daily volume of 24.3 million contracts, marking the second-highest October ADV in the company's history. These recent developments highlight CME Group's continuous efforts to enhance its service offerings and maintain its position as a leader in the global derivatives market.
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