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.

Read this next

Retail FX

eToro valuation halved as SPAC merger deadline expires

The deadline for the completion of the SPAC merger of eToro had passed yesterday, June 30, and the Israeli broker apparently canceled the deal with Betsy Cohen-backed blank-check firm.

Institutional FX

FXSpotStream reports second best figure for monthly volumes

Trading volumes on institutional FX platforms surged in June after fears over the impact of Russia’s military invasion of Ukraine sent speculative asset classes reeling.

Retail FX

Vantage expands MT5 offering with access to new stocks

ASIC-regulated foreign exchange brokerage Vantage has expanded its service offering and trading products by incorporating new markets, namely 14 exchange-based stocks on MetaTrader 5.

Digital Assets

CFTC charges $1.7 billion Bitcoin scam, largest to date

Mirror Trading accepted at least 29,421 Bitcoin from approximately 23,000 investors from the United States and even more throughout the world.

Retail FX

Spotware Systems upgrades cTrader Desktop to version 4.3

Spotware Systems, a technology provider for the electronic trading industry, has launched an updated version of its cTrader Desktop, which adds new functionality to join a roster of advanced trading capabilities.

Digital Assets

OKX launches Block Trading for tighter pricing

With Block Trading, users can integrate spot and derivatives trades on the same platform and trade multiple currencies in a single trade. The service supports trading of perpetual swap, futures, and option contracts with popular altcoins as the underlying.

Industry News

Interactive Brokers pays $1 million to settle with CFTC

Interactive Brokers overcharged its customers a total of $710,828.14.

Metaverse Gaming NFT

DappRadar launches cross-chain token staking

The launch of the cross-chain token staking mechanism by DappRadar comes under a partnership with LayerZero protocol, which enables smart contracts to communicate across different chains.

Digital Assets

Polkadot releases one-stop marketplace for Substrate pallets

Proof-of-stake blockchain Polkadot has achieved a significant feat in its development, as it rolls out Substrate Marketplace, a one-stop shop for exploring the many Substrate pallets currently available.