CME Group profit rises on trading strength

(Reuters) - CME Group reported a rise in third-quarter profit on Wednesday, as uncertainty around the U.S. monetary policy path led investors to rejig their portfolio, bolstering trading volumes for the derivatives exchange.

Investors turned to CME's hedging products to manage the risks arising from escalating uncertainties, including those from mounting geopolitical tensions in the Middle East, which drove double-digit growth across all CME asset classes.

CME's interest rate average daily volume (ADV) jumped 36% to a quarterly record of 14.9 million contracts from a year earlier.

The company's total ADV touched a quarterly record of 28.3 million contracts, rising 27% from a year earlier.

Clearing and transaction fees, CME's chief source of revenue, jumped 19.5% to $1.30 billion in the quarter.

Net income attributable to common shareholders of CME Group rose to $901.3 million, or $2.50 per share, in the three months ended Sept. 30, from $740.8 million, or $2.06 per share, a year earlier.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shinjini Ganguli)