ICE FX Volumes Rebound in June, But Down YoY

Turnover in ICE’s flagship energy contracts dropped further to fresh lows in June.

As ups and down on foreign exchange markets intensified in volatile trade in recent weeks, exchange operators also continue to reap some benefits.

Intercontinental Exchange (NYSE:ICE) today disclosed mixed metrics across its FX and credit volumes, which averaged 34,000 contracts per day. The figure reflected a 10.0 percent increase month-over-month from just 31,000 contracts in May 2018, which saw a 28 percent drop relative to the prior month. However, the exchange operator registered a 6 percent loss in volumes when compared to 36,000 contracts in June 2017.

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The overall financial results, which also include interest rates and equity indices, orchestrated a decline of 16.9 percent year-on-year after revealing only 3.11 million contracts per day compared to 3.74 million in June 2017.

Turnover in ICE’s flagship energy contracts dropped further to fresh lows in June, according to data released today, as rangebound moves in prices reduced interest from retail and speculative investors.

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For the month ending June 2018, ICE saw its energy volume average 2.7 million contracts per day, which represents a drop of 5.0 percent month-on-month compared with 2.83 million contracts in May 2018. Across a yearly interval, the latest figure also reported a 7.6 fall from 2.88 million contracts per day in June 2017.

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

During the reported month, ICE’s June average daily volume (ADV) for futures and options business was reported at 6.3 million contracts per day, which corresponded to a decrease of 3.6 percent MoM from 6.5 million per day in May 2018. In addition, this latest figure marks a 12 loss over June’ 2017 which came at 7.09 million contracts per day.

In terms of ICE’s total commodities volume, the figure was downbeat in its overall performance, amounting to average 3.19 million contracts per day in June 2018, down 1.5 percent vs. 3.24 million in the month prior. The group’s commodities activity was also lower by 4.5 percent year-on-year when weighed against 3.34 million contracts reported back in June 2017.

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