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ICE’s Global Energy Markets Reach Record Open Interest
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
On April 25, Intercontinental Exchange (NYSE:ICE) announced record open interest in its Total Energy futures and options markets, reaching 46.7 million contracts, an 11% increase since the beginning of the year. Open interest in North American natural gas futures and options saw a 26% rise to approximately 26 million contracts, with specific growth of 34% in Henry Hub futures. ICE's energy options markets also grew by 35% this year, reflecting the demand for risk management amid uncertainty in commodity pricing.
Positive
Record open interest at 46.7 million contracts in Total Energy futures.
Open interest in North American natural gas futures rose 26% to about 26 million contracts.
Henry Hub futures open interest increased by 34%.
Energy options markets saw a growth of 35% year-to-date.
Negative
None.
NEW YORK & LONDON & AMSTERDAM--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it reached record open interest in its Total Energy futures and options markets of 46.7 million contracts on April 25, and is up 11% since the start of the year.
As participants manage uncertainty in U.S. natural gas markets, open interest across ICE's North American natural gas futures and options, which includes Henry Hub and natural gas basis markets, is up 26% since the start of the year at roughly 26 million contracts. Open interest in Henry Hub futures and options is up 34% over the period, while open interest in North American natural gas futures hit a record 16.85 million contracts on April 26.
“Customers use our deeply liquid energy markets to manage their exposure and price commodities on which millions of people rely upon,” said Trabue Bland, President of ICE Futures U.S. “Our customers are navigating commodity and inflation risks on a scale that many have never experienced and are using all the tools at their disposal through futures and options to do this.”
Reflecting how the market typically reacts to high levels of uncertainty, ICE’s energy options markets have seen particular growth since the start of the year, with open interest in Total Energy options up 35%.
Open interest is the number of contracts that remain open each day and reflects how customers are adding to their positions for a period of time. Open interest in longer-dated positions tends to be held by commercial customers hedging their exposure to 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, 2021, as filed with the SEC on February 3, 2022.
