NYSE-Owner ICE Reveals Mixed Volumes for FX Business in August

Turnover from ICE’s flagship energy contracts dropped further to fresh lows in August.

Intercontinental Exchange (NYSE:ICE), owner of the New York Stock Exchange, today disclosed mixed metrics across its FX and credit volumes, which averaged 24,000 contracts per day.

The figure reflected a 4.3 percent increase month-over-month from just 23,000 contracts in July 2018. However, the exchange operator registered a 14 percent loss in volumes when compared to 28,000 contracts in August 2017.

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The overall financial results, which also include interest rates and equity indices, orchestrated a gain of 21.5 percent year-on-year after revealing 2.2 million contracts per day compared to 1.8 million in August 2017. The figure is also higher by a similar percentage over a monthly basis.

Turnover from ICE’s flagship energy contracts dropped further to fresh lows in August, according to data released today, as range-bound moves in prices reduced interest from retail and speculative investors.

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For the month ending August 2018, ICE saw its energy volume average 2.2 million contracts per day, which represents a drop of 4.8 percent month-on-month compared with 2.3 million contracts in July 2018. Across a yearly interval, the latest figures also show a 12 percent fall from 2.5 million contracts per day in August 2017.

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Volatility surged last month after a typical calm in summer, roiling global markets, with turbulence remaining elevated through the end of August, benefiting 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 August across most business segments.

During the reported month, ICE’s August average daily volume (ADV) for futures and options business was reported at 4.81 million contracts per day, which corresponded to an increase of 7.6 percent month-over-month from 4.47 million per day in July 2018. In addition, this latest figure marks a 3.5 advance over August’ 2017 which came at 4.65 million contracts per day.

In terms of ICE’s total commodities volume, the figure was downbeat in its overall performance, amounting to average 2.61 million contracts per day in August 2018, down 1.2 percent vs. 2.65 million the month prior. The group’s commodities activity was also lower by 8 percent year-on-year when weighed against 2.84 million contracts reported back in August 2017.

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