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ICE’s Global Commodity and Energy Markets Reach Record Open Interest Across Futures and Options
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Rhea-AI Summary
Intercontinental Exchange (NYSE:ICE) reported record open interest in its global commodities and energy futures markets as of February 22, 2023, reaching 50.7 million contracts. This surpassed the previous record from October 2021. Notably, open interest in energy futures was 46.8 million contracts, beyond the April 2022 record. Total open interest has grown by 13% since the start of 2023, with commodities up 9% and energy up 10%. Brent futures increased by 24%, while natural gas futures rose by 8%. The growth reflects increased market activity and liquidity in response to evolving supply and demand dynamics.
Positive
Record open interest of 50.7 million contracts achieved on February 22, 2023.
13% growth in total open interest since the start of 2023.
Brent futures open interest increased by 24%, indicating strong market demand.
Natural gas futures open interest up 8%, showcasing stability in the market.
Negative
None.
LONDON, NEW YORK & AMSTERDAM--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced record open interest across its global commodities and energy futures and options markets.
On February 22, 2023, open interest hit a record 50.7 million contracts across commodity futures and options, surpassing the previous record set in October 2021. ICE also hit record open interest that day of 46.8 million contracts across its global energy futures and options markets, beating the previous record set in April 2022.
These records have contributed to 13% growth in total open interest on ICE since the start of 2023 at 75.7 million contracts, with open interest in commodities up 9% and up 10% in energy. Open interest in Brent futures and options is up 24% since the start of the year at 4.8 million contracts, and up 16% across ICE’s global oil complex at 11.2 million contracts.
“The build in liquidity across ICE’s markets reflects how customers have started the year by actively taking on positions to respond to supply and demand dynamics across commodities, utilizing the liquidity and price signals of ICE’s benchmarks, and the transparency of price discovery to manage their risk,” said Trabue Bland, SVP, Futures Exchanges at ICE.
Open interest across ICE's global natural gas futures and options portfolio is up 8% since the start of the year at 30.3 million, with open interest across North American natural gas futures and options, which includes Henry Hub and U.S. Basis Markets contracts, up 7% at 27.6 million. Open interest in Henry Hub options is at 10.99 million contracts, the highest since March 2014. Across TTF natural gas futures and options, open interest is up 31% since the start of the year at 2.1 million contracts with positions now out to 2030.
Across ICE’s global environmental complex, open interest is up 15% since the start of the year. The price signals and liquidity provided by ICE’s energy and environmental markets are at the heart of helping companies transition to alternative forms of energy by providing the tools to allocate capital and manage the associated price risk.
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.
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, 2022, as filed with the SEC on February 2, 2023.
