ICE Announces Record Environmental Market Trading in 2024

Equivalent to over $1 Trillion in Notional Value for the Fourth Consecutive Year

AMSTERDAM & LONDON & NEW YORK--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced that a record number of environmental contracts traded on ICE in 2024, equivalent to over $1 trillion in notional value for the fourth consecutive year.

A record 20.4 million environmental futures and options contracts traded on ICE in 2024, up approximately 40% year-over-year (y/y) along with record average daily volume and participation.

ICE’s EU Carbon Allowance (EUA) futures and options, which represents the world’s most liquid carbon derivatives market, and U.K. Carbon Allowance (UKA) futures and options each reached record participation in 2024 and physically delivered carbon allowances worth $40 billion.

Across ICE’s North American environmental markets, a record 5.6 million futures and options traded in 2024, with a record $12.3 billion physically delivered. ICE’s California Carbon Allowance (CCA) market hit record traded volume in 2024 of 3.9 million contracts, up 68% y/y.

“For the last twenty years, ICE has worked to create a truly interconnected global network of energy and environmental markets to allow customers to meet their emissions obligations and environmental price risk on a single platform,” said Gordon Bennett, Managing Director, Utility Markets at ICE. “At ICE we are working hard to develop scalable carbon credit markets, including CORSIA, the first global market-based carbon credit program targeted at reducing emissions from international aviation.”

Reflecting how many carbon markets are expanding their scope and coverage, the European Union has created a new emissions trading scheme named ETS 2 to cover carbon dioxide emissions from fuel combustion in buildings and road transport. To help the market manage carbon price risk in these new sectors, ICE plans to launch EUA 2 futures on May 6, 2025, subject to regulatory approval.

Since launch, 166 billion carbon allowances, 6 billion carbon credits, 588 million renewable energy certificates, and the equivalent of 21.2 billion Renewable Identification Numbers (RINs) have traded across ICE’s global environmental portfolio.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

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, 2023, as filed with the SEC on February 8, 2024.

Category: EXCHANGES

ICE-CORP

Source: Intercontinental Exchange

View source version on businesswire.com: https://www.businesswire.com/news/home/20250124458141/en/

ICE Media:

Jess Tatham

jess.tatham@ice.com

+44 7377 947136

ICE Investor:

Katia Gonzalez

katia.gonzalez@ice.com

(678) 981-3882

Source: Intercontinental Exchange

FAQ

What was ICE's environmental trading volume in 2024?

ICE recorded 20.4 million environmental futures and options contracts in 2024, representing a 40% increase year-over-year and exceeding $1 trillion in notional value.

How much was physically delivered in ICE's North American environmental markets in 2024?

ICE's North American environmental markets achieved record physical deliveries worth $12.3 billion in 2024.

When will ICE launch its EUA 2 futures for the new EU emissions trading scheme?

ICE plans to launch EUA 2 futures on May 6, 2025, subject to regulatory approval, supporting the new EU ETS 2 scheme for buildings and road transport sectors.

How did ICE's California Carbon Allowance (CCA) market perform in 2024?

ICE's California Carbon Allowance market reached record trading volume of 3.9 million contracts in 2024, representing a 68% increase year-over-year.

What was the value of physically delivered carbon allowances in ICE's EU and UK markets?

ICE's EU and UK Carbon Allowance markets physically delivered carbon allowances worth $40 billion in 2024.