FX volume down at ICE, but total turnover crosses 7 million milestone

abdelaziz Fathi

Atlanta-headquartered futures exchange, Intercontinental Exchange, which also operates clearing houses and serves OTC markets, on Wednesday disclosed weak metrics across its FX and credit volumes for October, which averaged 37,000 contracts per day.

Intercontinental Exchange

The figure reflected an 18 percent decrease month-over-month from the number of FX contracts in September 2021. However, the exchange operator registered a mild rise in volumes when compared to October 2020, having risen by 6 percent year-on-year from 35,000.

The overall financial products, which also include interest rates and equity indices, shot higher by 76 percent year-on-year after revealing 3.25 million contracts per day compared to 1.85 million in October 2020. Further, the figure rose by 12 percent over a monthly basis.

Turnover from ICE’s flagship energy contracts cooled off its fresh highs in October, according to data released today, as the volatility eased.

For the month ending October 2021, the owner of the New York Stock Exchange saw its energy volume average 3.43 million contracts per day, which represents a fall by 1 percent month-on-month compared with 3.48 million contracts in September 2021. Across a yearly interval, however, the latest figures showed a 27 increase from 2.69 million contracts per day in October 2020.

In terms of ICE’s total commodities volume, the figure was also mixed in its overall performance, amounting to an average of 3.79 million contracts per day in October 2021, which is down 2 percent vs. 3.87 million for the month prior. The group’s commodities activity was skewed to upside year-on-year when weighed against 3.06 million contracts reported back in October 2020.

Overall, ICE’s aggregated volumes were characterized by positive results across both the monthly and yearly intervals while volumes were broadly up in October across most business segments.

During the reported month, ICE’s October average daily volume (ADV) for futures and options business had crossed the 7 million contracts per day, which corresponded to a change of 4 percent month-over-month from 6.77 million per day in September 2021. In addition, this latest figure marks a 43 percent advance over October 2020 which came at 4.91 million contracts per day.

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