Intercontinental Exchange reports 18% drop in monthly FX volume

abdelaziz Fathi

Intercontinental Exchange, which also operates clearing houses and serves OTC markets, disclosed weak metrics across its FX and credit volumes for October, which averaged 58,000 contracts per day.

Intercontinental Exchange ICE

The figure reflected an 18 percent drop month-over-month from the number of FX contracts in September 2022, which was reported at 71,000. However, the Atlanta-headquartered futures exchange operator registered a 57 percent increase in volumes when compared to October 2021, having risen year-on-year from 37,000.

The overall financial products, which also include interest rates and equity indices, fell 31 percent month-on-month after revealing 2.35 million contracts per day compared to 3.4 million in September. In addition, the figure was lower by 28 percent over a yearly basis.

Data shows weakness in energy volumes

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

For the month ending October 2022, the owner of the New York Stock Exchange saw its energy volume average 2.85 million contracts per day, which represents a negative change month-on-month. Across a yearly interval, the latest figures were lower by 17 percent from 3.14 million contracts per day in October 2021.

In terms of ICE’s total commodities volume, the figure was also mixed in its overall performance, amounting to an average of 3.2 million contracts per day in October 2022, which is down 2 percent vs. 3.35 million for the month prior. The group’s commodities activity was skewed to downside year-on-year as well when weighed against 3.79 million contracts reported back in October 2021.

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

During the reported month, ICE’s October average daily volume (ADV) for futures and options business was reported at 5.64 million contracts per day, which corresponded to a change of -17 percent month-over-month from 6.7 million per day in September 2022. In addition, this latest figure marks a 20 percent decraese over October 2021 which came at 7.05 million contracts per day.

Read this next

Institutional FX

Tradeweb’s trading volume hits $23.2 trillion in November

Tradeweb Markets, the operator of electronic marketplaces for rates, credit, equities and money markets, has just reported its aggregated trading volumes for November 2022.

Executive Moves hires Vikas Lakhwani to join MENA business

Multi-licensed broker has appointed Vikas Lakhwani as its general manager for the Gulf Cooperation Council (GCC) region.

Retail FX

Swissquote secures CySEC licence as crypto business grows

Swissquote Group, Switzerland’s provider of online trading services, has received approval from CySEC to operate as a market-making Cyprus investment firm.

Institutional FX

Moscow Exchange still enjoys solid market making volumes

The Moscow Exchange, Russia’s largest exchange group, released its monthly batch of trading volumes and metrics for November 2022 – the latest readings showed flat performance across the board for multiple segments.

Inside View

The Year-End FX Turn: To Everything There is a Season

By Paul Houston, Global Head of FX Products, CME Group

Crypto Insider

A Wrapup of zkSync x Bitrue’s “Ask Me Anything” Session

In another edition of Bitrue’s AMA on Twitter Space, Bitrue invited a special guest from the company behind the creation of zkSync, Matter Labs. Marco Cora, Head of Business Development from Matter Labs, joined the session to give listeners a rundown on what’s up with zkSync.


New Features, Upgrades, and Improvements: B2Broker Launches Big Update of Its Flagship CRM System B2Core

In a massive update for its flagship product, B2Core, B2Broker, one of the leading providers of liquidity and technology solutions for brokers and exchanges, has released new features. Enhancements in the update include the following to provide clients with more features, flexibility, and security:

Industry News

Will SEC v Ripple end come too late for crypto industry in the United States?

SEC v. Ripple Labs has entertained the digital asset industry ever since being filed in 22 December 2020. Nearly two years in, both parties have addressed the court to pursue a summary judgment in order to avoid going to trial.

Inside View

Outsourcing: The Key to Improving Your ROI

Gen Z, the second generation of digital natives, has already set out on its path to wealth creation, participating in the financial markets and inspiring Generation Alpha to follow suit. The current and upcoming generations of investors are increasingly looking for cutting-edge technology to aid their decision-making process. As investor demographics change and the markets become increasingly global, brokers need to evolve their ecosystem to stay a step ahead. This is the only way to survive the rapidly changing markets.