Trading activity took a noticeable breather during September, yet the market maintained a substantial amount of exposure. Volume saw a 15% reduction compared to August's $750B. Interestingly, open interest pushed upward to achieve new highs during that exact same period. Market participants held onto greater open exposure while executing fewer trades, all while navigating a series of major events that included an oil shock, two central-bank rate hikes packed into just 48 hours, and a new exchange ascending the venue ranking.
As positions stayed open and overall trading cooled, the tracked market produced $637.85 billion throughout September, which was a decrease from the $753.7 billion generated in August. Despite the lower trading activity, average daily open interest jumped by 12%. This metric increased from $10.45 billion in August to reach $11.71 billion in September. The numbers continued to climb as the month closed, hitting a record $12.61 billion on September 30. Ultimately, the broader picture was clear because volume dropped while overall exposure grew.
As positions stayed open and overall trading cooled, the tracked market produced $637.85 billion throughout September, which was a decrease from the $753.7 billion generated in August. Despite the lower trading activity, average daily open interest jumped by 12%. This metric increased from $10.45 billion in August to reach $11.71 billion in September. The numbers continued to climb as the month closed, hitting a record $12.61 billion on September 30. Ultimately, the broader picture was clear because volume dropped while overall exposure grew.