ICE Reports Record Trading Activity Across Total Futures and Options with Record Volumes Across Global Energy Markets

Published 2 months ago via Business Wire

Brent and Gasoil Reach New Volume Highs

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced that its total futures and options markets reached record trading activity during Q3 2024 with 517 million contracts traded during the quarter, including a record 276 million energy futures and options.

“The development of ICE’s commodity and energy markets began over 20 years ago, allowing us to offer customers a truly global and interconnected platform of markets and data across asset classes, all designed with liquidity, precision and flexibility for managing and identifying risk,” said Trabue Bland, SVP of Futures Markets at ICE.

Record trading during Q3 2024 includes a record 173.3 million oil futures and options, the highest volume traded since Q1 2020. ICE Brent traded at record quantities during the quarter with a record 93.4 million futures and options traded, hitting record average daily volume (ADV) of 1.5 million during Q3 2024. In addition, Brent options hit record open interest of 3.77 million on October 11, 2024. Open interest across Brent futures and options is up 20% year-over-year (y/y) at 6 million contracts.

Meanwhile, ICE Gasoil, which sits at the center of middle distillates trading as the global benchmark for refined oil products, saw record trading in options during Q3 2024 with approximately 344,000 contracts traded. Gasoil futures and options hit record open interest of 1.3 million contracts on October 3, 2024, up over 60% y/y.

ICE is home to over 800 oil futures and options contracts underpinned by the global benchmarks Brent and Gasoil. Other ICE oil benchmarks which hit record highs during the third quarter include ICE WTI futures and options with 23.7 million contracts traded, ICE Midland WTI (HOU) futures which traded a record 1.6 million and ICE Murban futures which traded a record 1.9 million contracts.

ICE’s energy markets include the broadest range of natural gas benchmarks to support globalization of the fuel. These include the global benchmark TTF, U.S. benchmark Henry Hub, Canadian benchmark AECO, U.K. benchmark NBP, and the benchmark for North-East Asia, ICE JKM LNG (Platts). Open interest across the complex is up 24% y/y, with TTF futures and options hitting record ADV of over 400,000 contracts during September 2024, up 30% y/y.

Sitting alongside ICE’s energy markets are the most liquid markets to trade environmental products, including EU Carbon Allowance (EUA) futures and options, the world’s most liquid carbon market, with volumes up over 40% y/y. Meanwhile, in Q3 2024, ICE’s North American environmental complex saw record trading of 1.47 million contracts. Trading activity across global environmental markets is up 42% year-to-date and open interest is up 35% y/y.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates 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, 2023, as filed with the SEC on February 8, 2024.

Category: EXCHANGES

ICE-CORP

Source: Intercontinental Exchange

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