I disagree. What you're seeing here is LIBOR transition.
We'll see $CME at $200 when rates open interest improves (or when the market expects it to improve soon).
Rates OI correlates to the yield curve, so the stock will perk up when interest rate expectations go up (ie inflation). https://twitter.com/negativeyield/status/1329834074442240003 …pic.twitter.com/ZtHNJriLOs
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To me the LIBOR switch means CME’s Eurodollar product would shrink but SOFR would grow, both within the Rates bucket. Are u saying LIBOR transition is causing CME to lose share?
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