Philip Stafford in London and Richard Henderson in New York 8 HOURS AGO
Trading volumes on stock and futures exchanges surged in February after fears over the impact of the spreading coronavirus sent important asset classes reeling.
Data from bourses showed that trading flows jumped sharply last week, when the US benchmark S&P 500 stock index tumbled more than 10 per cent from a recent peak to record its fastest correction since the 1930s.
Intercontinental Exchange, which owns the New York Stock Exchange and other platforms, said it handled a daily average of 7.6m futures and options contracts in February — a new monthly record. Deutsche Börse, the German exchange group, said Friday had been the heaviest day for share trading since 2008. Its monthly trading volume rose 60 per cent compared over 2019, to €183bn.
CME Group, the world’s largest futures exchange, said it had its second busiest day on record the previous week. “We saw a flight to quality,” said Derek Sammann, global head of commodities and options products at the CME. “People were getting out of equities and into fixed income.”
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