ICE Reports Record Open Interest Across Global Commodity and Energy Markets with Record Traded Volumes in Options During October

Rhea-AI Summary

Intercontinental Exchange, Inc. (NYSE:ICE) announced record open interest (OI) and volume across its global commodity and energy futures and options markets. The company hit record OI of 56.3 million contracts across commodities futures and options, including record OI of 51.5 million contracts in energy futures and options. Meanwhile, ICE reached record volume in commodity and energy options during October with approximately 16 million commodity options traded, including a record 14.3 million energy options. ICE also saw significant growth in volumes and open interest in its global oil and natural gas futures markets. Brent crude options are the most liquid crude oil options contract globally and traded a record 5.7 million contracts during the month with record average daily volume of 257,000 contracts, up 85% y/y.

Positive

• Record open interest and volume demonstrate strong market activity and customer engagement.
• Significant growth in volumes and open interest in global oil and natural gas futures markets.
• Brent crude options are the most liquid crude oil options contract globally with record trading volume and average daily volume.

Negative

• None.

LONDON & NEW YORK & AMSTERDAM--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced record open interest (OI) across its global commodity and energy futures and options markets, as well as record volume across commodity and energy options.

On October 25, 2023, ICE hit record OI of 56.3 million contracts across commodities futures and options, including record OI of 51.5 million contracts in energy futures and options. Meanwhile, ICE reached record volume in commodity and energy options during October with approximately 16 million commodity options traded, including a record 14.3 million energy options.

ICE offers customers the most liquid markets to trade energy derivatives and is home to Brent crude, which is used to price over three quarters of the world’s internationally traded crude oil and is the most liquid futures and options markets in the world. Volumes across ICE’s global oil options markets hit a record of approximately 6.8 million contracts in October, with volumes up 93% year-over-year (y/y). Brent crude options are the most liquid crude oil options contract globally and traded a record 5.7 million contracts during the month with record average daily volume of 257,000 contracts, up 85% y/y.

Open Interest across ICE’s global natural gas futures markets reached a record 19.8 million contracts on October 26, 2023, while volumes in ICE’s TTF futures market, the global benchmark for natural gas, hit a record 6.4 million contracts during October, with volumes up 127% y/y.

“Many years ago, ICE recognized the importance of creating a truly global energy platform to serve the needs of a growing and evolving commercial customer base,” said Trabue Bland, SVP, Futures Markets at ICE. “As energy dynamics become increasingly complex, customers are seeking liquidity and products that provide more precise hedging. The record growth in volumes and open interest shows the benefits our customers are finding in the contracts we provide, which span deeply liquid global benchmarks and many hundreds of more precise locational, product and refining spreads.”

ICE offers customers the broadest range of benchmarks to support the liberalization of natural gas, as well as the most liquid global environmental markets, which help corporates and market participants meet commitments to reduce carbon emissions. As of the third quarter 2023, ICE’s natural gas and environmental markets combined form over 40% of ICE’s energy complex, growing 17% on average over the past five years.

Meanwhile, OI across ICE’s agricultural portfolio, which includes benchmark Sugar, Cocoa, Coffee, Cotton, Canola and Frozen Concentrated Orange Juice markets, has hit consistent records through the year reaching a record 4.95 million contracts on November 2, 2023.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.

Category: EXCHANGES

ICE- CORP

Source: Intercontinental Exchange

View source version on businesswire.com: https://www.businesswire.com/news/home/20231108462708/en/

ICE Media Contact:

Jess Tatham

jess.tatham@ice.com

+44 7377 947136

ICE Investor Contact:

Katia Gonzalez

katia.gonzalez@ice.com

(678) 981-3882

Source: Intercontinental Exchange

What is the significance of ICE's record open interest and volume in commodity and energy markets?

The record open interest and volume demonstrate strong market activity and customer engagement, indicating a high level of interest and participation in ICE's commodity and energy markets.

What are the key highlights of ICE's performance in its global oil and natural gas futures markets?

ICE saw significant growth in volumes and open interest in its global oil and natural gas futures markets, with Brent crude options trading a record 5.7 million contracts during the month, indicating strong market activity and customer engagement.

How has ICE's performance in its agricultural portfolio been?

ICE's agricultural portfolio, which includes benchmark Sugar, Cocoa, Coffee, Cotton, Canola, and Frozen Concentrated Orange Juice markets, has reached consistent records through the year, reaching a record 4.95 million contracts on November 2, 2023.