Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced record open interest (OI) across its global commodity and energy futures and options markets.
On July 25, 2023, ICE hit record OI of 55.4 million contracts across commodities futures and options, up 14% year-over-year (y/y), with record OI of 50.9 million in energy futures and options, also up 14% y/y. OI across ICE’s commodity options portfolio continues to perform strongly, up 25% y/y at 20.6 million, with ADV up 27%, while energy options OI is up 26% y/y at 18.5 million, with ADV up 28% y/y.
ICE offers the most liquid markets to trade energy. Across ICE’s global oil markets, OI is up 17% y/y at 12.3 million, with OI in Brent futures and options up 14% y/y at 5 million. Brent is used to price over three quarters of the world’s internationally traded crude oil and is the most liquid crude oil futures and options market in the world.
Other oil benchmarks performing strongly include Gasoil where OI is up 49% y/y at 788,500; ICE Dubai (Platts) where OI is up 56% y/y at a record 899,931 contracts; Murban where OI is up 39% y/y at 56,200; and Midland WTI (HOU) which hit record OI of 33,520 this month. HOU is delivering 5 million barrels each month of Midland WTI quality crude, which is deliverable into the Brent basket.
“Customers are drawn to the breadth of ICE’s global benchmarks across oil, natural gas, environmentals and soft commodities, utilizing the liquidity and transparency of our markets to hedge their risk, while using the real time price signals to make decisions, including on where to send commodities around the world, where to invest, and what products to produce,” said Trabue Bland, SVP, Futures Markets at ICE.
Across ICE's global natural gas portfolio, OI is up 16% y/y at 33.3 million contracts, with OI across North American natural gas futures and options, which includes Henry Hub and U.S. Basis Markets contracts, up 14% at 29.7 million. OI in ICE TTF natural gas is up 39% y/y at 2.9 million, the highest levels since December 2021, with record market participation in TTF futures and options through the first half of 2023.
In ICE’s global environmental portfolio, which alongside ICE’s energy markets provide price signals and liquidity to help companies transition to alternative forms of energy and make decisions on how to invest in renewable energy projects, OI is at 1.87 million contracts.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.
Source: Intercontinental Exchange