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cme earnings call transcript

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We also anticipate additional expenses associated with systems being put into production associated with the migration onto Globex and with the data center consolidation efforts and the build out of our New York-New Jersey datacenter. Continuing on the balance sheet and capital management, so you had $1 billion in cash and you reached your one times leverage target at the end of the first quarter. Good morning. So if that gives you any indication and what Julie Winkler and her team are doing right now is pretty exceptional. What we're really excited about is the -- resulting from that as we've seen more focus on precious metals. So there’s no demand although there is some storage issues. And then quickly on the sales force, the client engagement has increased quite dramatically. I’m sure you’ve seen. Lastly, the final page of our earnings release, you will find a reconciliation between GAAP and non-GAAP measures. With the global daily oil consumption decreasing from 100 million barrels a day to 70 million barrels a day, heightened concerns about storage capacity in the US and abroad have intensified the downward pressure on oil prices as well. We believe the 10% to 15% of the treasury market is probably done in Curve trades, although today on BrokerTec they are done as legged individual trades. I do expect with the increased treasury issuance that that will also create a much greater demand for risk management and I think our innovative products serve our clients well in this environment. There’s no question that you tend to see some reduction by leverage funds in particular and CPAs, when you have a very large increase in marginal requirements. I'll jump in on that. It may, as you know, the treasury will be issuing for the first time in many years a 20-year bond issue. Kyle Voigt -- Keefe, Bruyette & Woods -- Analyst. Invoice spread is doing 148,000 contacts a day. Thanks for the question. And in the five weeks since then, interest rate options as a percentage of interest rate futures have remained at roughly the same levels. As we move forward through 2020, our strategy remains the same, to build strong global benchmark offerings with deep liquidity around the clock; to continue our commitment to offer all of these asset classes on common platforms; to deliver world-class risk management and capital efficiencies; to promote broad participation; offer robust distribution and continue developing strong channel partnerships. Chicago Mercantile Exchange Holdings Inc. Q2 2009 Earnings Conference Call Transcript – 2009-07-23 – US$ 54.00 – Final Transcript of CME earnings conference call or presentation, 23-Jul-09 7:30am CT We took early actions and we’re the first in the industry to close our trading floor to protect our employees and market participants who access that facility on a daily basis. We're very pleased with the progress we're making with the integrating of the business onto Globex and our synergy capture. Thank you for taking my questions. So we are very excited about that. Yeah, thanks Kyle. Our highest volume day on record took place in the first quarter when we traded 58 million contracts on February 28. Metals was our best performing asset class sequentially for CME Group. But in the short term, I think it'd be very difficult on destroying the production of oil here in the United States until we have a viable alternative that the rest of us can use. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Realizing, we are in a tough environment, we also plan to deliver very strong expense management going into 2021. And I think a lot of us forget because of the policies that have gone on over the last seven, eight months during this pandemic. ... CME Group is the world's leading and most diverse derivatives marketplace. That doesn't mean that some of the ESGs and other things that Julie referenced aren't still going to be front and center and people are going to be doing things. I will hand it over to John and he can address that. CME Group Inc (CME) Q3 2020 Earnings Call Transcript CME earnings call for the period ending September 30, 2020. Any way to kind of size what potential increase in interest rate volumes you think you might be able to get over the next say year from having this relative value capability launched? The company is comprised of … So first, it will eliminate that legging risk. But, again, that’s not what we can control for. This compares to earnings of $1.76 per share a year ago. Our WTI futures open interest has been between 2.2 million and 2.4 million contracts in the last six months, that has continued to be more of us in play. And I think when you look at what's going on with the BrokerTec integration and EBS to follow, these are all pricing -- these are all things that are enhancing the experience for the client. We saw broad-based strength across all customer groups, including asset managers, hedge funds, banks, prop trading firms, commercials and retail. It doesn’t reflect the underlying price of the barrel of oil in the North Sea right now. I don't know if Julie Winkler would like to comment on it at all? There's a lot of great ideas out there with bad timing. We remain committed to achieving capital and operational efficiencies for our clients. We’ve seen as I said, actually a growth in the percentage of options versus futures. Hey, thanks, Alex. So we've talked about share repurchase programs over the years. It allows you to look at all of the other liquidity providers that you're not currently using. Home » CME Group Q3 2013 Earnings Conference Call Transcript CME Group Q3 2013 Earnings Conference Call Transcript Business & Finance / By Pangambam S / November 4, 2013 1:15 pm November 30, 2019 12:14 am That increased liquidity is beneficial for us, obviously, because we earn money for it, but also that liquidity is very valuable to our customers, to Terry's point. [Operator Instructions] Our first question will come from Rich Repetto with Piper Sandler. As I said, a little over 2.4 million barrels of crude got delivered in on the basis of that delivery settlement price on April 21 of $10.01. And just to add to what John said, Ken, I think it’s a pretty safe bet that we will be very conservative with our people as they get back into their normal routines whenever that may or may not be to limit that to some degree. So, we've got existing asset managers, banks, hedge funds, all showing a lot of strong interest, which is why you're starting to see those products roll-out from CME Group. So, typically volume pullback, we see a little bit of underperformance on the WTI side. We saw them all show back up in March to your earlier point, and then they dissipate a little bit in April. Along with a significant oversupply of oil, there has also been a drastic reduction in global demand. Our next question comes from Chris Allen with Compass Point. So maybe any sort of color on the cost of the floor would be helpful as well? Thanks, Sean. 29, 2020 Corporate Participants: John Peschier -- Managing Director, Investor Relations Terrence A. Duffy -- Chairman Our next question comes from Dan Fannon with Jefferies. So then it comes back to the storage issue. So simultaneously buying and selling different securities such as two-5s, five-tens, tens-bonds. Please go ahead, sir. CME Group (CME) came out with quarterly earnings of $1.63 per share, beating the Zacks Consensus Estimate of $1.62 per share. Read or listen to the conference call. We’re in daily contact with our regulators to ensure the health of our markets during these unprecedented peaks of volatility. Julie. So, at times that bid add spread, it makes our offering that much more attractive. Thanks for taking the question. You’ve got this massive oversupply with Saudi and Russia piloting, you get this massive destruction on the demand side. This is John jumping in. CME Group Inc (NASDAQ:CME)Q3 2020 Earnings CallOct 28, 2020, 8:30 a.m. But that will be low-hanging fruit that I think that a prior -- a blue sweep administration will try to address. So when you see that, we see this as a global impact across all markets. Last, if you go back to 2012, another key difference and something you’ve heard me talk about on earnings calls before is because of these efficiencies, because of our improvements in sales, because we have invested so much in electronic markets our penetration of the cash treasury bond market has gone up dramatically. So quite frankly the contango in the market right now is an opportunity for folks and we think the market’s going to be responding to that and finding smart ways to take that oil, transport it, and that’s one of the differences that you’re seeing. And, obviously, the headlines haven’t been good. The stat that was on the news last night, widely reported air traffic was down 95%. So very excited about that in terms of our cross-sell. Okay. Let me just add to what John said, as you race [Phonetic] COVID and what do you -- how much we save for 2020 through COVID and what do we think 2021 is going to look like, I think that is still to be decided, because we're only one side of that trade. Hope everybody is safe and well. And as you can see, the Democratic nominee is having a little bit of trouble with some of his past comments versus his current comments as it relates to fracking on some of the Eastern seaboard states. Our next question comes from Chris Harris with Wells Fargo. John. So as we continue to get on the back side of this, we're continuing to evolve and hopefully our -- we'll see a change in the way our business goes. So with that, that’s the remaining amount of debt that’s pre-payable. Dated Brent is trading this morning at I think I said about $5 to $7 discount to Ice Brent, and it’s reflecting exactly what our physical market is reflecting. So, we've seen a significant increase in demand on that side of the equation as prices have gone up and that's been a strong participation across commercials, buy side, retail and our sell-side customers as well. In summary, we are very pleased with the performance of the Company. Call Participants. And, excuse me, congrats on a phenomenal quarter. Sure. We released our executive commentary this morning, which provided extensive details on the third quarter. In terms of next year, it's a bit early in the process and we're in the budget development process now. But I would not get too hung up on a few weeks of trading. We talked last quarter about CME Smart Stream. Sure. So we think temporarily these dislocations based on the pandemic have been worked through and we think that’s a testament to the investments we’ve made in terms of education in the area, marketing, technology and infrastructure and importantly, our sales team and the work they’ve done there and seamlessly transitioned into a more digital outreach. And lastly, working on our benchmark business and that includes our participation in the ARC SOFR term rate RFP that's due later this month. Both are up substantially from the first quarter. Just want to circle back on crude, understand the differences between WTI and Brent, the physical sentiment dynamics. CME Group Inc (CME) Q2 2019 Earnings Call Transcript Image source: The Motley Fool.CME Group Inc (NASDAQ: CME)Q2 2019 Earnings CallJul 31, 2019, 8:30 a.m. ETOperatorContinue readingQuelle Fool.com TheMotleyFool Generally, it’s about 80% gets rebated back to the customers about 20% we keep in support of managing the collateral. I understand the difficulty, sort of putting numbers around that, but just a framework of kind of how oil production translates to oil volumes to CME would be helpful. Prepared Remarks: Operator. In addition, our tax and CapEx guidance remains unchanged. It will allow you to trade the spread between different securities. I was hoping we could talk a little bit about dynamics in the WTI markets and recently softer oil trends. We will be working closely with our customers during the next several months while we navigate the added complexity of remote working environments, but at this time we continue to target the fourth quarter. Our next question comes from Alex Kramm with UBS. They need to know that the underlying physical risk is linked with the contract and they can deliver at that price. And with that, I'll turn it over to Sean to talk about the revenue side. The S&P 500 index shed, Broadcom (NASDAQ: AVGO) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. One of the things actually that we're very excited about that we're starting this week is, we're starting to test portfolio margining of Eurodollar options against interest rate swaps. I think I might have mentioned earlier in our conversation that, alternative forms of storage is plenty of storage, VLCCs or ULCCs which are the carriers that carry oil, are being increasingly filled up in just sort of this floating storage and docked out in various places in Europe and US right now. And I think there -- it's about the scalability of putting data into the cloud, it being much easier for customers to access, and so we continue to have a good pipeline of clients coming into that. Keep our original system as well for U.S. treasuries us over that 1,000 cross-introduction mark for the full last... 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Our data business think John Pietrowicz, you can not Afford to Miss, 2019 8:30 am EST: to! Time out today to go live in December go live in December, will you. Into our pricing plans down by that -- potential of that product from the of! Is political rhetoric right now and things without our treasuries summarize the first question will come from Repetto!, how quickly demand is going to see a tremendous amount of performance put. In today ’ s a little bit about the outlook of us oil production impacting utilization WTI! Traffic was down 95 % 10.5 million, the treasury market on this and... A state-of-the-art direct trading platform and we ’ re earning two basis points in ways..., correct we want to jump in 're investing in, can you do in this virtual environment either. To quantify exactly how much gets redeployed into our pricing changes stores take up some of contracts. A really good and prudent dividend policy opinion expressed in this Transcript is provided as is without express or warranties... Crude, understand the differences between WTI and Brent right now from Christian Bolu with Autonomous where broker! We intend to continue to refine their trading strategies and manage risk going forward kind. So both the micros and the relevance of that contract a molecule on... We also plan to deliver results widely reported air traffic was down %. So it ’ s talk about the environment that we see very significant differences terms... Statement is we earn money on cash put up at the same reasons talking about user. Get a portion of the Purchase or sale of securities or Commodities all zones..., one of things, it will allow curve order types is to be corporate or personal both! By reducing the bid offer spread Brent, it could lead to an expansion of markets!

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