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ICE SONIA Futures and Options Reach Record Volume as Investors Return to U.K. Markets
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Rhea-AI Summary
Intercontinental Exchange (NYSE: ICE) reported record trading volumes in SONIA futures and options, with 1.147 million contracts traded on February 2, 2023. This includes a peak of 979,561 SONIA futures, marking a 19% increase over the previous record. Year-to-date, open interest in SONIA has surged by 33% to 2.758 million contracts. The increased trading activity reflects renewed investor confidence in the U.K. interest rate markets, bolstered by liquidity measures taken last year. Additionally, open interest in Euribor futures has risen by 23% year-over-year, along with a 42% increase in average daily volume, highlighting a robust performance in ICE's rate markets.
Positive
Record trading volume of 1.147 million SONIA futures and options on February 2, 2023.
979,561 SONIA futures traded, a 19% increase over the previous record.
Open interest in SONIA futures and options rose by 33% since the start of 2023.
Euribor futures open interest increased by 23% year-over-year.
Negative
None.
LONDON--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, today announced record volume in SONIA futures and options as investors return to U.K. interest rate futures markets.
A record 1.147 million SONIA futures and options traded on February 2, 2023, including a record 979,561 in SONIA futures, a 19% increase on the previous record. Open Interest in SONIA futures and options is up by a third since the start of 2023 at 2.758 million contracts.
“The record trading in SONIA reflects a return of confidence by investors to U.K. interest rate markets following the impact of the mini-budget in 2022,” said Chris Rhodes, President of ICE Futures Europe. “As the benchmark for pricing and risk managing UK interest rate risk, SONIA futures and options markets are benefiting from the measures taken last year to bolster liquidity. The record volumes, together with the growth in Euribor volumes over the past year, are creating an exciting European rates environment for traders.”
ICE offers customers the most liquid European interest rate futures and options markets, including the global benchmark Euribor which is used to manage Euro-denominated interest rate risk. As investors respond to the European Central Bank rates environment, open interest in Euribor futures and options is up 23% year-over-year (y/y) at 16.274 million contracts, with average daily volume up 42% at 1.55 million contracts y/y.
The total traded across ICE’s short term interest rate (STIR) futures and options portfolio was 4.7 million contracts on February 2, 2023, of which approximately 3.5 million was in Euribor futures and options.
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.
