The major derivatives exchanges benefited strongly from the surge in uncertainty that hit the markets last month, with the Chicago Board of Trade (CBOT) recording its highest ever monthly volumes.

Although volumes were up across the board, it was the exchanges with strong suites of long term interest rate products that attracted the highest increases in trading volumes. Over 45 million contracts were traded on CBOT in July, up 35.4% from the amount traded in July last year. A new exchange daily volume record was also set by the CBOT on July 31 when 3.3 million contracts were traded. The bulk of CBOT's volume increases came from the exchange's family of bond contracts.