CME Group reported that open interest in its U.S. Treasury futures and options climbed to a record 36,328,151 contracts on February 19 2026, surpassing the previous high of 35,120,066 contracts set in November 2025. The new figure represents the highest level ever recorded for the exchange’s interest‑rate complex.
The record reflects growing demand for Treasury products amid uncertainty over monetary policy, government spending and inflationary pressures. "With open interest surpassing 36 million contracts, clients are continuing to turn to our U.S. Treasury markets in record numbers as uncertainty grows around monetary policy, government spending and other inflationary pressures," said Agha Mirza, CME Group’s Global Head of Rates and OTC Products.
The record includes all U.S. Treasury futures and options across maturities, with significant growth in the 2‑year, 5‑year, 10‑year and 30‑year contracts. The broad participation across these maturities underscores the depth of the market and the wide range of hedging needs being met.
CME’s clearing infrastructure delivers deep liquidity and capital efficiency, with over $25 billion in daily margin savings. "By combining record liquidity on CME Globex with over $25 billion in daily margin savings, our interest rate complex offers the unparalleled execution and capital efficiencies that clients need in this volatile environment," Mirza added.
The milestone reinforces CME Group’s position as the world’s leading interest‑rate market and signals robust participation from institutional and corporate hedgers seeking to manage risk in a volatile environment. The record open interest demonstrates the exchange’s ability to attract and retain large volumes of trading activity, supporting its long‑term competitive advantage in the derivatives market.
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