NYSE-Owner ICE Reports Rise in May FX Volumes

The overall financial products, which also include interest rates and equity indices, however dropped 10 percent year-on-year.

Georgia-based Intercontinental Exchange, or ICE, on Wednesday disclosed positive metrics across its FX and credit volumes, which averaged 27,000 contracts per day.

The figure reflected a four percent increase month-over-month from just 25,000 contracts in April 2020. In addition, the exchange operator registered a stronger advance in volumes when compared to the number of contracts in May 2019, having jumped by over 40 percent year-on-year from 19,000.

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The overall financial products, which also include interest rates and equity indices, however dropped 10 percent year-on-year after revealing 1.9 million contracts per day compared to 2.12 million in May 2019. In addition, the figure also dropped by nearly nine percent over a monthly basis.

Turnover from ICE’s flagship energy contracts dropped further off record highs in May, according to data released today, as the volatility eased following the free-fall in prices in March which heightened interest from retail and speculative investors.

For the month ending May 2020, the owner of the New York Stock Exchange saw its energy volume average 2.85 million contracts per day, which represents a fall of 23 percent month-on-month compared with 3.7 million contracts in April 2020. Across a yearly interval, the latest figures showed a three percent gain from 2.77 million contracts per day in May 2019.

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Volatility consolidated last month ahead of a typical calm in summer, though roiling global markets, with turbulence remaining elevated through the end of May, benefiting some exchange operators.

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

During the reported month, ICE’s May average daily volume (ADV) for futures and options business was reported at 5.11 million contracts per day, which corresponded to a change of -18 percent month-over-month from 6.24 million per day in April 2020. In addition, this latest figure marks a four percent drop over May 2019 which came at 5.31 million contracts per day.

In terms of ICE’s total commodities volume, the figure was downbeat in its overall performance, amounting to average 3.20 million contracts per day in May 2020, down 22 percent vs. 4.13 million the month prior. The group’s commodities activity was almost unchanged year-on-year when weighed against 3.19 million contracts reported back in May 2019.

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