CME Group, the derivatives marketplace that operates New York Mercantile Exchange (Nymex) Henry Hub natural gas futures, said its new micro trading platform for gas got off to a strong start this month.

Micro Henry Hub futures launched Nov. 6 and, in the initial days, surpassed 50,000 contracts. These are one-tenth the size of the company’s benchmark Henry Hub contracts, are cash-settled and are listed on the Nymex. CME also is offering micro natural gas options.

When CME announced it would launch the new offerings in late September, it said average daily volume (ADV) in the full-sized Henry Hub futures contract was up 14% from 2022, driven in part by global trading. Volume originating outside the United States had grown 3% through the first nine months of 2023 to about 21% of...