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April 22 (Reuters) - CME Group CME.O reported a rise in first-quarter profit on Wednesday, as heightened market volatility drove investors to the derivatives exchange to hedge their positions against economic uncertainty.

The Chicago-based exchange operator benefited from increased trading volumes in its interest rate and equity index products, as market participants navigated shifting expectations for global interest rates and geopolitical tensions.

The company sees increased demand for its futures products when businesses seek to lock in prices amid rapid market swings. This acts as a tailwind for CME's top-line growth, reflecting a broader corporate pivot toward defensive positioning in a turbulent macroeconomic environment.

A volatile and uncertain market helps CME's business model by increasing average daily volumes (ADV) for its product line, which boosts its clearing and transaction fees and demand for analytical tools.

Adjusted profit attributable to the common shareholders of the company came in at $1.22 billion, or $3.36 per share, for the three months ended March 31, compared with $1 billion, or $2.80 per share, in the year-ago period.