The firm has seen significant demand for its crypto products since November despite the bear market, according to the CEO.
in November, and a string of bankruptcies in a contagion that followed suit, many critics would have thought that institutional interest in crypto assets would dwindle significantly.products has surged since November.“It’s really been interesting what’s going on with Bitcoin after we saw what happened at the end of last year with some of the issues going on in the industry.
Duffy opined that clients’ trust in CME may have also helped drive sales. Due to the lack of regulatory clarity in the crypto industry and its entities, clients may opt for regulated markets like CME. “I think people are looking at the regulated market, especially the institution thing. You know, if we’re gonna trade this stuff, we’re gonna trade it on a regulated exchange like CME. So, we’ve actually seen an uptick in our crypto products so we’re quite pleased by that,” he added.during its Q4 2022 Earnings Conference Call on February 8 that last year was the best in the company’s history, as it recorded significant growth.
The firm’s financial products were responsible for the growth, with a 5.27% increase in revenue from 2021 to $1.21 billion and earnings per share record of $1.92.
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