Intercontinental Exchange Sees a Surge in Open Interest for Q2 2021

Total open interest on a year-over-year basis was up 11%.

Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, released its trading volume and related revenue statistics report for June and the second quarter of 2021. According to the stats, the total average daily volume (ADV) was up 12% year-over-year, and the total open interest (OI) was up 11% on a year-over-year reading, including a record OI of 85.8 million lots on June 10, 2021.

For the total energy ADV, the exchange noted that it was up 7% year-over-year, with record energy futures OI of 33 million lots on June 25. Specifically, total oil ADV was positive, which was up 4% on a year-over-year basis, with WTI and Brent ADVs up 8% and 10% year-over-year, respectively. “Total natural gas ADV up 13% y/y; OI up 4% y/y including record futures OI of 19.2M lots on June 25; North American gas ADV up 13% y/y; OI up 3% y/y including record OI of 22.8M lots on June 24; TTF gas ADV up 26% y/y; OI up 8% y/y including record OI of 3.3M lots on June 24,” the report stated.

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Records in OI

Furthermore, coffee ADV was also bullish, which was up 11% in a year-over-year reading, with an OI up 8% y/y. “The second quarter has seen record open interest reached across many of our asset classes, with particularly high activity in commodities and interest rates. ICE connects customers to some of the largest and most liquid markets available, helping them to invest and manage risk efficiently, transparently and with greater certainty,” Ben Jackson, President of Intercontinental Exchange, commented.

Recently, in April, Intercontinental Exchange sold 1.4 percent of Coinbase shares for $1.2 billion. ICE CFO Scott Hill highlighted that the group gained $900 million in net profit from that single trade in the cryptocurrency exchange shares. ICE’s investment in the crypto exchange was made under its subsidiary NYSE, which participated in Coinbase’s $75 million Series C funding round closed in January 2015.

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