ICE’s FX daily volume drops below 50K contracts mark

abdelaziz Fathi

Intercontinental Exchange, which also operates clearing houses and serves OTC markets, disclosed weak metrics across its FX and credit volumes for December, which averaged 48,000 contracts per day.

UEZ Vice President

The figure reflected an 11 percent drop month-over-month from the number of FX contracts in November 2022, which was reported at 54,000. However, the Atlanta-headquartered futures exchange operator registered a 37 percent increase in volumes when compared to December 2021, having risen year-on-year from 35,000.

The overall financial products, which also include interest rates and equity indices, rose three percent month-on-month after revealing 2.19 million contracts per day compared to 2.13 million in November. In addition, the figure was higher by 26 percent over a yearly basis.

Data shows weakness in energy volumes

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

For the month ending December 2022, the owner of the New York Stock Exchange saw its energy volume average 2.46 million contracts per day, which represents a -14 change month-on-month. Across a yearly interval, the latest figure was virtually unchanged from 2.62 million contracts per day in December 2021.

In terms of ICE’s total commodities volume, the figure was also mixed in its overall performance, amounting to an average of 2.96 million contracts per day in December 2022, which is down 17 percent vs. 3.55 million for the month prior. The group’s commodities activity was skewed to upside year-on-year when weighed against 2.89 million contracts reported back in December 2021.

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

During the reported month, ICE’s December average daily volume (ADV) for futures and options business was reported at 5.15 million contracts per day, which corresponded to a change of -9 percent month-over-month from 5.68 million per day in November 2022. However, this latest figure marks an 11 percent increase over December 2021 which came at 4.46 million contracts per day.

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