Intercontinental Exchange’s October Metrics Mixed, Equities and FX Fall

Volumes were largely mixed with equities and FX leading a MoM decline despite overall futures growth.

Intercontinental Exchange (NYSE: ICE), an international network of exchanges and clearing houses, has reported its latest aggregated volumes for the month ending October 2016, which was characterized by a consecutive monthly gain, following recent 2016 lows back in August, according to an ICE statement.

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During October 2016, ICE’s futures and options business, as reflected by its average daily volume (ADV), was reported at 5.5 million per day, which corresponded to a growth of 5.8% MoM from 5.2 million contracts per day in September 2016 – this latest figure marks the exchange’s first consecutive monthly growth this year.

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Despite the absence of any specific market drivers or an uptick in volatility, October 2016 was broadly higher across most business segments MoM. Over a yearly timetable, October 2016’s ADV was also noticeably higher by a factor of 17.0% YoY from 4.7 million per day in October 2015.

Commodities Volumes Growth Stalls

ICE also held onto most of its recent gains in commodities volume, with ADV stagnating to 3.0 million contracts per day in October 2016, virtually unchanged MoM from 3.0 million contracts per day in September 2016. During October 2016, commodities ADV also rose 7.1% YoY from 2.8 million contracts per day during October 2015.

The one exception to the month was across the group’s equity indices ADV, which came in at just 338,000 contracts per day in October 2016, paring the majority if last month’s recent gains. Relative to last month, the figure also plunged by -49.1% MoM from 664,000 in September 2016, which had been its higher value in 2016.

FX ADV Pulls Back

Another area that saw a weak performance in term of volumes in October was ICE’s foreign exchange (FX) and credit volumes, which also dropped to an ADV of just 28,000 contracts per day in October 2016, failing to overtake a 36,000 in September 2016. The volumes registered a decline of -22.2% MoM though were down -15.2% YoY from 33,000 contracts per day in October 2015.

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