Weak volumes hit CME Group

CME Group yesterday said its fourth-quarter profit fell sharply from a year ago as trading sagged, a decline Wall Street had anticipated given muted market volatility and the US Federal Reserve’s renewed commitment to low US interest rates. The Chicago-based exchange operator said its net income tumbled to $167m (£106m) from $745.9m a year earlier. Revenue fell to $660.9m from $736.5m. CME said it stands to win business from an expected shift from swaps to futures.