CME Group and COVID-19 (coronavirus pandemic)
Industry-relevant revenue only increased 0.3% in 2020 despite increased trading volumes due to economic uncertainty surrounding the spread of COVID-19 (coronavirus). However, as the company processed a higher volume of trades in 2020, this contributed to industry-relevant profit increasing to $2.3 billion. While industry-relevant revenue for CME increased in 2020, it increased at less compared to the industry. In 2020, revenue for the industry increase 24.0%. The company performed significantly worse in 2020 despite being set up for large revenue gains in that year.
COVIDIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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