ICE Announces That a Record 20,124 Murban Crude Oil Futures Contracts Traded on July 6
Intercontinental Exchange (NYSE: ICE) announced a record trading volume of 20,124 ICE Murban Crude Oil Futures on July 6, the highest since the contract's launch on March 29. Since inception, 503,567 contracts have traded, equating to 0.5 billion barrels of Murban crude oil. The August Murban futures contract expired with 6,923 contracts delivered, marking a 14% increase from the previous month. Open interest stands at 51,068 contracts, with an average daily volume of 6,886 contracts since launch, indicating strong market interest and liquidity.
- Record trading volume of 20,124 contracts on July 6, indicating strong market interest.
- Total of 503,567 contracts traded since launch, representing significant market activity.
- 14% increase in August Murban futures contracts delivered compared to the previous month.
- Average daily volume of 6,886 contracts since launch shows continued liquidity.
- None.
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that a record 20,124 ICE Murban Crude Oil Futures traded on ICE Futures Abu Dhabi (“IFAD”) on July 6, marking its highest volume day since the contracts launched on March 29.
Alongside ICE Murban Crude Oil Futures, IFAD launched trading in 18 Murban-related cash settled derivatives and inter-commodity spreads, offering the market the broadest range of ways to trade and hedge Murban crude oil.
A total of 503,567 contracts have traded on IFAD since launch, equivalent to 0.5 billion barrels of Murban Crude oil. This includes 495,782 ICE Murban Crude Oil futures contracts and 7,785 Murban-related cash settled derivatives, with 63 firms having traded on IFAD. Open interest on IFAD is 51,068 contracts. Average daily volume in ICE Murban Crude Oil futures since launch is 6,886 contracts.
“The growing volumes and open interest in Murban futures are building the depth of liquidity on ICE Futures Abu Dhabi as the market uses Murban futures to hedge forward price risk and contribute to the price formation process of Murban crude oil,” said Jamal Oulhadj, President of ICE Futures Abu Dhabi.
On June 30, the August Murban futures contract went to expiry with 6,923 contracts going to delivery, a
IFAD has 32 Exchange Members and 23 Clearing Members, who are listed in full on IFAD’s Membership page.
For more information on how to clear or trade IFAD markets please contact Membership-AbuDhabi@ice.com or to arrange education sessions on IFAD please contact education@ice.com.
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, 2020, as filed with the SEC on February 4, 2021.
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Source: Intercontinental Exchange
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