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.

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