ICE reports strong FX volumes for May but other segments disappoint

abdelaziz Fathi

Intercontinental Exchange, which also operates clearing houses and serves OTC markets, disclosed strong metrics across its FX and credit volumes for May, which averaged 40,000 contracts per day.

Intercontinental Exchange ICE

The figure reflected an 8 percent increase month-over-month from the number of FX contracts in April 2022. Additionally, the Atlanta-headquartered futures exchange operator registered a similar increase in volumes when compared to May 2021, having risen year-on-year from 37,000.

The overall financial products, which also include interest rates and equity indices, rose 7 percent month-on-month after revealing 2.33 million contracts per day compared to 2.16 million in April. However, the figure was virtually unchanged over a yearly basis.

Data shows weakness in energy volumes

Turnover from ICE’s flagship energy contracts weakened to fresh lows in May, according to data released today, as the volatility eased.

For the month ending May 2022, the owner of the New York Stock Exchange saw its energy volume average 2.79 million contracts per day, which represents a decrease of 7 percent month-on-month compared with 3.01 million contracts in April 2022. Across a yearly interval, the latest figures were also lower from 2.82 million contracts per day in May 2021.

In terms of ICE’s total commodities volume, the figure was also downbeat in its overall performance, amounting to an average of 3.14 million contracts per day in May 2022, which is down 9 percent vs. 3.45 million for the month prior. The group’s commodities activity was also skewed to downside year-on-year when weighed against 3.17 million contracts reported back in May 2021.

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

During the reported month, ICE’s May average daily volume (ADV) for futures and options business was reported at 5.47 million contracts per day, which corresponded to a change of -3 percent month-over-month from 5.62 million per day in April 2022. In addition, this latest figure marks a 1 percent drop over May 2021 which came at 5.5 million contracts per day.

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