** Derivatives exchange major CME Group's CME.O shares jump 7% to $254.05

** CME Q2 profit tops Wall Street expectations as market data revenue hit a record $238 million

** First half of 2026 was the strongest in CME Group's history - CEO Terry Duffy

** Strong business performance has been overshadowed by discussions surrounding perpetual futures, CME exec told analyst, adding it doesn't substitute for institutional hedging tools

** Exchange stocks have struggled from a combination of a shift in regulatory posture and the perceived threat of perpetual futures, analysts have said

** "We believe the bear case related to perpetual futures will prove to be a non-event for CME, but in the meantime it has created an attractive entry point for CME's shares," Raymond James analyst Patrick O'Shaughnessy says

** "We think the recent lull in trading volumes will prove temporary, higher for longer interest rates is a positive for both interest rate futures trading volumes and interest income"

** As of last close, CME shares down 13% YTD