Trends in commodity derivatives
In this article, we analyse the trends in commodity options and futures contracts traded observed over the past five years. The data is available on the WFE Statistics Portal, while the indicators are defined in our Definitions Manual. For questions or feedback about this article, please contact the WFE Statistics Team at [email protected]
The number of commodity options and futures contracts traded in 2025 amounted to 12.49 billion, which represented a 17.5 % rise from 2024. This was due to options and futures volumes going up 48% and 10%, respectively. Regionally, volumes in the Americas increased 10.4%, in APAC 19.3% and in EMEA region 11.4%.
Options account for 25% of the commodity derivatives contracts traded, while futures account for 75%. Regionally, commodity derivatives are mostly traded in APAC (79% share), while the Americas and EMEA regions account for 12% and 9% share, respectively. Zhengzhou Commodity Exchange, Dalian Commodity Exchange and Shanghai Futures Exchange are some of the largest markets for commodity derivatives trading.
Commodity derivatives are commonly classified into agricultural products, energy, index commodity derivatives, precious and non-precious metals and other commodities (which cannot be included in any of the above categories). Agricultural products, energy and other commodities account for 30%, 26% and 29%, respectively, of all commodity derivatives volumes, with precious and non-precious metals accounting for 8% and 7%, respectively. Index commodity derivatives account for near-zero proportion.
In 2025 only index commodity derivatives declined compared to 2024. Agriculture and non-precious metals increased, with energy, precious metals and other commodities witnessing double-digit rises.
Large markets for agricultural products are Dalian Commodity Exchange, Zhengzhou Commodity Exchange and CME Group, while energy commodities are traded mostly on Multi Commodity Exchange of India, CME Group and Dalian Commodity Exchange.
Precious metals are traded mostly on Multi Commodity Exchange of India, CME Group and Borsa Istanbul, while the largest venues for non-precious metals are Zhengzhou Commodity Exchange, London Metal Exchange and Dalian Commodity Exchange.
Index commodity derivatives are traded on Deutsche Boerse AG and Multi Commodity Exchange of India.
For more information about granular commodity derivatives, please check our website for the upcoming Market Highlights report.
Figure 1: Number of commodity options contracts traded between 2021 and 2025
Figure 2: Number of commodity futures contracts traded between 2021 and 2025
Figures 3 – 5 show the commodity options and futures contracts traded by region.
Figure 3: Number of commodity derivatives contracts traded in the Americas region between 2021 and 2025
Figure 4: Number of commodity derivatives contracts traded in the APAC region between 2021 and 2025
Figure 5: Number of commodity derivatives contracts traded in the EMEA region between 2021 and 2025
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