ICE’s FX, Futures Volumes Pointed Higher in March

Volumes were mixed in March, though ultimately finished positively thanks to the futures, FX, and equities segments.

Intercontinental Exchange (NYSE: ICE), an international network of exchanges and clearing houses, has reported its latest aggregated volumes for the month ending March 2017, which was characterized by a third consecutive monthly gain in terms of its futures and options business.

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During March 2017, ICE’s futures and options business, as reflected by its average daily volume (ADV), was reported at 6.6 million per day, which corresponded to a growth of 13.8 percent month-over-month from 5.8 million contracts per day in February 2017. This latest figure marks the exchange’s third consecutive monthly growth this year, having climbed in every month in 2017.

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March featured a higher degree of market activity, sparked by action from the US Federal Reserve’s rates. As such, March’s 2017 volumes were broadly higher across most business segments on a month-over-month basis. Over a yearly timetable however, March 2017’s ADV was also noticeably higher by a factor of 29.4 percent year-over-year from 5.1 million per day in March 2016.

Commodities Volumes Growth Stalls

ICE was however unable to hold onto its recent gains in commodities volume, with ADV falling to 3.1 million contracts per day in March 2017, down -13.9 percent month-over-month from 3.6 million contracts per day in February 2017. During March 2017, commodities ADV did rise 10.7 percent year-over-year from 2.8 million contracts per day during March 2016.

Looking at the group’s equity indices ADV, March 2017 saw a reading of 712,000 contracts per day, soaring 96.1 percent month-over-month from just 363,000 contracts per day in February 2017.

FX ADV Climbs

By extension, ICE’s foreign exchange (FX) and credit volumes during March 2017 managed to score an ADV of 46,000 contracts per day, overtaking 40,000 in February 2017. These volumes registered a growth of 15.0 percent month-over-month, as well as 31.4 percent year-over-year from 35,000 contracts per day in March 2016.

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