CME

CME Group is preparing to expand its 24/7 trading hours to include the 100-ounce silver futures contract, pending regulatory approval, following the recent launch of its around-the-clock one-ounce gold futures contract. Jin Hennig, CME Group Managing Director and Global Head of Metals, explained that strong retail demand and significant weekend trading volumes in gold futures, exceeding $200 million in notional value over recent weekends, have driven the decision to extend 24/7 trading to silver.

CME Group operates as the world's leading derivatives marketplace, serving as essential infrastructure for stock and fixed income markets. CME benefits from interest rate volatility, proprietary benchmark products, and a high-margin, recurring revenue model with 33 consecutive quarters of market data growth. Shares trade at a forward P/E of 21.8, a 9% discount to a $290 fair value estimate; consensus expects 7.5% annual EPS growth through 2028.

CME Group leads Coinbase on valuation, price gains and near-term growth, even as both expand across crypto and global trading markets.

BitMEX, the exchange that launched crypto's first perpetual futures contract, will close on September 23 after 11 years. BitMart, another crypto exchange, plans to wind down by January, according to Jean-Marie Mognetti, CoinShares co-founder, president and CEO.

Zacks Securities and Exchanges industry players like CME, ICE, NDAQ and CBOE gain from rising crypto adoption, a higher non-trading revenue base and tech investments. However, competition remains a drag.

CME Group has underperformed the S&P 500, declining nearly 12% over the past 11 months. CME delivered solid Q2 2026 results, with EPS of $2.99 and revenue of $1.71B, both of which beat analysts' expectations. Market Data revenue surged more than 20% compared to the same period a year ago.

CME Group is rated Buy, supported by record results and a resilient, defensible futures franchise. CME's moat is anchored in open interest and margin efficiencies, not just market share, insulating it from FMX's cash bond competition. Three underappreciated growth drivers: Treasury clearing, retail expansion, and crypto, are poised to fuel future compounding.

CME Group maintains strong core performance, posting record Q2 revenue and robust margins, yet the stock remains range-bound and fully valued. Q2 2026 highlights include $2.99 non-GAAP EPS, $1.71B revenue, 69.5% adjusted operating margin, and resilient trading volumes across key product lines. Capital return remains aggressive with $1.2B distributed via dividends and buybacks, backed by a strong balance sheet and disciplined expense management.

CME Group Inc. (CME) Q2 2026 Earnings Call Transcript

CME Group beats Q2 estimates as record market data revenues and resilient trading activity lift results, while expanding its product lineup.