ICE Reaches Record Open Interest Across Global Energy Benchmark Brent Crude Futures and Options

Published 2 months ago via Business Wire

Plus, Record Open Interest across Gasoil Futures and Options and Total Oil Options

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced that ICE Brent, the largest crude oil futures and options market in the world and the global benchmark price for crude, reached record open interest of 6.4 million contracts on October 18, 2024, surpassing the record previously set in April 2020. Brent open interest is up 20% year-over-year (y/y) across futures and options.

In addition, ICE’s total oil options markets reached record open interest of approximately 6.4 million contracts on October 18, 2024. While ICE Low Sulphur Gasoil futures and options reached record open interest of 1.3 million contracts, up 67% y/y. ICE Gasoil sits at the center of middle distillates trading as the global benchmark for refined oil products. Average daily volume (ADV) in Gasoil is up 24% y/y.

“We know our customers are navigating extremely challenging market conditions this year and we appreciate their continued support and trust in our markets,” said Jeff Barbuto, Global Head of Oil Markets at ICE. “The oil markets on ICE were designed and developed by working closely with our customers to create contracts that fit their trading, risk management and liquidity needs through complex political and geopolitical landscapes, severe weather events and global security concerns. We’re proud to offer the biggest and most liquid oil markets in the world.”

Brent crude is the price barometer for three quarters of the world’s internationally traded crude oil. On October 15, 2024, total oil options hit record traded volume of over 593,800 contracts. On the same day, Brent options hit a trading record of nearly 542,000 contracts. ADV in ICE oil options is up 34% year-to-date (YTD) with Brent options ADV up 37% YTD.

ICE’s energy complex includes the most liquid markets to trade global benchmarks across oil, natural gas and environmentals. Open interest across ICE’s global energy complex is up 21% y/y at 61.2 million contracts with average daily trading activity up 27% YTD.

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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