ICE reports record volumes in Brent, WTI, TTF, and agricultural markets in 2023

Rick Steves

“ICE’s commodity and energy complex reached volume and open interest records throughout the year, with our Brent, WTI, TTF, and agricultural markets each trading at record levels in 2023, reflecting the core role ICE’s derivative markets play in helping our global customer base manage their risk in the face of ever more complex supply chain dynamics.”

Intercontinental Exchange, Inc. has released its trading volume and revenue statistics for December, Q4, and FY 2023, revealing that total open interest (OI) increased by 18% year-over-year (y/y), reaching a record OI of 86.5 million lots on December 14.

Average daily volume (ADV) rose by 39% y/y in December, 26% y/y in 4Q23, and 10% y/y in 2023, according to the report.

Energy ADV up by 38% YoY

ICE also revealed that Energy OI surged by 21% y/y, achieving a record OI of 53.7 million lots on December 22. ADV increased by 38% y/y in December, 35% y/y in 4Q23, and set a record for 2023, rising by 18% y/y.

Total Oil OI rose by 28% y/y, with ADV increasing by 31% y/y in December, 32% y/y in 4Q23, and setting a record for 2023, up by 19% y/y.

Notable increases were observed in specific markets, such as Brent (13% OI growth, 20% ADV increase in December), WTI (53% OI growth, 49% ADV increase in December), and Gasoil (38% OI growth, 33% ADV increase in December). Total natural gas OI increased by 23% y/y, reaching a record futures OI of 20.6 million lots on December 22. ADV rose by 48% y/y in December, 41% y/y in 4Q23, and 17% y/y in 2023.

Other highlights include North American gas (19% OI growth, 40% ADV increase in December), TTF gas (89% OI growth, 97% ADV increase in December), and Asia gas (20% OI growth, 65% ADV increase in December).

Sugar ADV explodes by 96%

Environmentals ADV increased by 29% y/y in December, 20% y/y in 4Q23, and 2% y/y in 2023.
Ags & Metals saw a 25% y/y increase in total OI and a 59% y/y ADV increase in December. Notable performances were observed in Sugar (17% OI growth, 96% ADV increase in December), Cocoa (74% OI growth, 23% ADV increase in December), and Coffee (13% OI growth, 53% ADV increase in December).

Total Financials OI increased by 10% y/y, with ADV rising by 39% y/y in December and 17% y/y in 4Q23. Specific segments, including interest rates and equity options, also demonstrated positive trends. NYSE equity options ADV increased by 14% y/y in December, 3% y/y in 4Q23, and 4% y/y in 2023. Additionally, NYSE cash equities ADV rose by 19% y/y in December.

These statistics underscore ICE’s robust performance, reflecting its pivotal role in global derivative markets and its effectiveness in assisting clients in navigating complex supply chain dynamics.

ICE’s mission: To help manage risk in the face of ever more complex supply chain dynamics

Ben Jackson, President of ICE, highlighted the company’s strategic investment in globalizing commodity markets over decades.“ICE began investing in the globalization of commodity markets decades ago, and our record performance through 2023 shows the value customers find in our global platform underpinned by deeply liquid benchmarks across asset classes.

“ICE’s commodity and energy complex reached volume and open interest records throughout the year, with our Brent, WTI, TTF, and agricultural markets each trading at record levels in 2023, reflecting the core role ICE’s derivative markets play in helping our global customer base manage their risk in the face of ever more complex supply chain dynamics.”

ICE added crypto options data to ICE Consolidated Feed

In December 2023, ICE expanded its partnership with Blockstream to add cryptocurrency options data to their Cryptocurrency Data Feed available via the ICE Consolidated Feed.

The Cryptocurrency Data Feed, a joint venture initiated by ICE and Blockstream in 2018, delivers real-time information on cryptocurrencies. It encompasses data on over 100 cryptocurrencies sourced from more than 30 venues and exchanges worldwide. Under ICE’s exclusive agreement with Blockstream, this feed provides extensive coverage of prices and order book data for various cryptocurrencies by exchange.

This Data Feed, curated by ICE in close association with Blockstream, amalgamates cryptocurrency data from numerous sources into an accessible and rich feed. It is tailored to meet the needs of ICE Data Services’ customers, offering a streaming feed with detailed cryptocurrency information, catering to a global audience.

The ICE Consolidated Feed is a comprehensive solution that consolidates content from over 600 data streams into a normalized format. This feed is utilized by various financial institutions, including Tier 1, 2, and 3 banks, asset managers, hedge funds, Independent Software Vendors (ISVs), and redistributors.

It offers a cost-effective way to access a wide range of global financial information, covering multiple asset classes such as equities, derivatives, fixed income, foreign exchange, money markets, commodities, energy, and ETFs.

  • Read this next

    Institutional FX

    Intercontinental Exchange reinvents voice trading with ICE Voice

    “For the first time, ICE’s users will have a single, integrated platform for chat and voice that matches both traders’ need for always-on, instantaneous connectivity with other traders, and firms’ desire for easy-to-access and use records that help them meet their record retention requirements.”

    Fintech

    Duco launches EMIR-compliant transaction reporting eligibility validator

    “With Duco’s transaction reporting eligibility validator, customers can run independent checks whenever they want, get results in minutes, and access a clear audit trail. The solution provides insights at a field-by-field level so clients can see specific issues, discuss, and show ESMA they are considering discrepancies at a deep level.”

    Digital Assets

    Bybit’s trading volume near all-time high ahead of Bitcoin halving

    “Now, we’re seeing large inflows and smart money is moving fast. With the Bitcoin halving just around the corner, Bitcoin is proving itself as an institutional asset, a hedge against economic uncertainty, and a vote for financial freedom.”

    Digital Assets

    Morgan Stanley to add spot bitcoin ETFs

    Morgan Stanley is reportedly considering adding spot bitcoin ETF products to its brokerage platform. This move comes after the Securities and Exchange Commission (SEC) approved the investment vehicle in January.

    Digital Assets

    Hong Kong ends license applications for crypto exchanges

    Hong Kong has officially ceased accepting license applications from cryptocurrency exchanges as of February 29, signaling a stringent regulatory shift.

    Fintech

    Volt secures EMI license, expands payment solutions in UK

    Volt has successfully obtained an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA).

    Retail FX

    ASIC bankrupts finfluencer Tyson Scholz over stock tips

    The Australian Securities and Investments Commission (ASIC) has effectively bankrupted Tyson Robert Scholz, the figure behind “Black Wolf Pit.” The action marks a significant crackdown on so-called ‘finfluencers’ and individuals providing unlicensed financial services.

    Digital Assets

    Green Bitcoin Presale Raises $1M as Bitcoin Approaches its ATH

    The eco-friendly crypto project Green Bitcoin has seen its limited-time presale phase cross $1 million in funding. With an innovative gamified staking model and energy-efficient foundation, Green Bitcoin offers token holders a way to stake their tokens and generate yield.

    Web3

    Introducing QuickNode Streams: Elevating Blockchain Data Management

    Discover QuickNode’s Latest Innovation: Streamlining Blockchain Data Streaming for Enhanced Efficiency and Accessibility. Explore the Future of Blockchain Technology with Streams.

    <