US Futures Market Review: Q4-2018

2018 turned out to be a banner year for the futures industry. US market volume grew 17% to top 4 billion contracts for the first time. Options-on-futures volume also was strong, growing 12% and topping 1 billion contracts in 2018. In the US the Interest Rate complex led the way, while volume globally was a bit more diversified, with more emphasis on equity and FX futures trading. Over the course of the year, the number of FCMs in the US dropped to 62, but the downward trend in the number of firms seems to have subsided. The total number of FCMs ticked back up to 63 by the end of the year, and FCM customer assets finished the year above $170 billion, a number not seen since early 2017.

TABB Group’s Futures Market Review analyzes quarterly trends in the futures and options-on-futures markets in the US and offers a brief global overview. In addition, we provide details on swap and volatility futures contracts, as well as a comprehensive ranking of the top 25 FCMs as determined by customer segregated balances held on their books.