ICE December Data Shows Strong Rebound in FX Volumes

Turnover from ICE’s flagship energy contracts dropped last month, according to data released today.

Georgia-based Intercontinental Exchange, or ICE, on Monday disclosed positive metrics across its FX and credit volumes, which averaged 32,000 contracts per day.

The figure reflected a 45 percent increase month-over-month from just 22,000 contracts in November 2019. However, the exchange operator registered a nine percent fall in volumes when compared to the number of contracts in December 2018.

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The overall financial products, which also include interest rates and equity indices, orchestrated a gain of 12 percent month-on-month after revealing 2.19 million contracts per day compared to 1.95 million in November. In addition, the figure is also lower by nearly 20 percent over a yearly basis.

Turnover from ICE’s flagship energy contracts dropped last month, according to data released today, though it’s expected to rise again to fresh highs in January as the recent rally in prices heightened interest from retail and speculative investors.

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For the month ending December 2019, the owner of the New York Stock Exchange saw its energy volume average 2.38 million contracts per day, which represents a drop of 11 percent month-on-month compared with 2.68 million contracts in November 2019. Across a yearly interval, the latest figures showed a three percent gain from 2.31 million contracts per day in December 2018.

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Volatility consolidated last month on a typical calm in the year-end season, though roiling global markets, with turbulence remaining elevated through the end of December, benefiting some exchange operators.

Overall, ICE’s aggregated volumes were characterized by mixed results across both the monthly and yearly intervals, while volumes were broadly flat to lower in December across most business segments.

During the reported month, ICE’s December average daily volume (ADV) for futures and options business was reported at 4.97 million contracts per day, which corresponded to a change of two percent month-over-month from 5.10 million per day in the month prior. In addition, this latest figure marks a seven percent drop over December 2018 which came at 5.34 million contracts per day.

In terms of ICE’s total commodities volume, the figure was downbeat in its overall performance, amounting to average 2.78 million contracts per day in December 2019, down 11 percent vs. 3.14 million the month prior. The group’s commodities activity was however higher by seven percent year-on-year when weighed against 2.60 million contracts reported back in the year ago.

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