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CME Group profit rises as market volatility drives hedging demand
CME Group (CME.O), reported a rise in first-quarter profit on Wednesday, as the derivatives exchange operator benefited from heightened market volatility encouraging more investors to hedge their positions. Average daily volumes (ADV) touched a record high in the quarter with 36.2 million contracts, up 22% from the year-ago period, powered by the company's interest rate and equity index products. CME Group kicked off first-quarter earnings season for major U.S. exchanges, which are expected to report a largely stronger quarter on heightened geopolitical and economic uncertainty. Nasdaq (NDAQ.O), is set to ... (full story)