ICE’ FX Volumes Drop 27% in October 2018

ICE disclosed mixed metrics across its foreign exchange and credit volumes, which averaged 26,000 contracts per day.

Intercontinental Exchange (NYSE:ICE), a global network of exchanges and clearing houses, has reported its latest aggregated volumes for the month ending October 2018, which were characterized by mixed results across its FX business.

During the reported month, ICE’s October average daily volume (ADV) for futures and options business was reported at 5.59 million contracts per day, which corresponded to a gain of ‎three ‎percent month-over-month from ‎6.41 million per day in September 2018. In addition, this latest figure marks a 32 percent advance over October 2017 which came in at 4.98 million contracts per day.

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For the month ending October 2018, ICE saw its energy volume average at 2.98 million contracts per day, which represents an increase of three percent month-on-month compared with 2.89 million contracts in September 2018. Across a yearly interval, the latest figure also reported a 14 advance from 2.62 million contracts per day in October 2017.

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In terms of ICE’s total commodities volume, the figure was strong in its overall performance, amounting to an average of 3.43 million contracts per day in October 2018, up 2.5 percent vs. 3.35 million in the month prior. The group’s commodities activity was also higher by 17 percent year-on-year when weighed against 2.92 million contracts reported back in October 2017.

Meanwhile, ICE disclosed mixed metrics across its foreign exchange and credit volumes, which averaged 26,000 contracts per day. The figure reversed the narrative because while the firm posted a 27 percent drop month-over-month from 36,000 contracts the previous month, the exchange registered a nine percent progress when compared to 24,000 contracts a year ago.

Finally, the overall financial products, which also include interest rates and equity indices, ticked up 53 percent year-on-year after revealing 3.15 million contracts per day compared to 2.06 million in October 2017.

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