ICE Reports Sluggish FX Volumes for January 2019

ICE disclosed weak metrics across its foreign exchange and credit volumes, which averaged 29,000 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 January 2019, which were characterized by mixed results across its FX business.

During the reported month, ICE’s January average daily volume (ADV) for futures and options business was reported at 5.53 million contracts per day, which corresponded to a gain of ‎four ‎percent month-over-month from ‎5.34 million per day in December 2018. However, this latest figure marks an 11 percent drop over January 2018 which came in at 6.22 million contracts per day.

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Turnover from ICE’s flagship energy contracts rose further to fresh highs in January, according to data released today, as the recent volatility in prices heightened interest from retail and speculative investors.

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Specifically, the owner of the New York Stock Exchange saw its energy volume average of 2.71 million contracts per day, which represents a rise of 17 percent month-on-month compared with 2.31 million contracts in December 2018. Across a yearly interval, the turnover slumped -10 percent from 3.02 million contracts per day a year ago.

Weak FX metrics

In terms of ICE’s total commodities volume, the figure was strong in its overall performance, amounting to an average of 3.13 million contracts per day in January 2019, up 20 percent vs. 2.6 million in the month prior. The group’s commodities activity was also lower by nine percent year-on-year when weighed against 3.44 million contracts reported back in January 2018.

Meanwhile, ICE disclosed mixed metrics across its foreign exchange and credit volumes, which averaged 29,000 contracts per day. The figure reversed the narrative because as the firm posted a 17 percent drop month-over-month from 35,000 contracts the previous month, and also registered a six percent fall when compared to 31,000 contracts a year ago.

Finally, the overall financial products, which also include interest rates and equity indices, slumped 14 percent year-on-year after revealing 2.39 million contracts per day compared to 2.68 million in January 2018.

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