ICE‎ Reveals Mixed Metrics for November, FX Volumes Down 50% YoY

ICE disclosed weak metrics across its FX and credit volumes, ‎which averaged 23,000 contracts per day‎.

Intercontinental Exchange (NYSE:ICE), a global network of exchanges and clearing houses, has reported its latest aggregated volumes for the month ending November 2017, which were characterized by mixed results across both the monthly and yearly intervals, according to an ICE statement.

The absence of major market drivers or an uptick in volatility last month, as reflected by flat volumes reported across major ECNs, has caused ICE’s overall performance to be mixed in November across most business segments.

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During the reported month, ICE’s November average daily volume (ADV) for futures and options business was reported at 5.36 million contracts per day, which corresponded to growth of 7.9 percent MoM from 4.96 million per day in October 2017. However, this latest figure marks a 6.18 percent loss over November’s 2016 which came at 5.71 million contracts per day.

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For the month ending November 2017, ICE saw its energy volume average 2.83 million contracts per day, which represents a jump of 9.0 percent month-on-month compared with 2.6 million contracts in October 2017. Across a yearly interval, however, the latest figure reported a 3.6 decrease from 2.93 million contracts per day in November 2016.

In terms of ICE’s total commodities volume, the figure was upbeat in its overall performance, managing to average 3.21 million contracts per day in November 2017, which was good for a month-on-month advance of 10.7 percent vs. 2.90 million in the month prior. However, the group’s commodities activity was lower by 3.25 percent year-on-year when weighed against 3.32 million contracts reported back in November 2016.

Meanwhile, ICE disclosed weak metrics across its foreign exchange and credit volumes, which averaged 23,000 contracts per day. The figure reflects a 50.0 percent drop year-on-year from 46,000 contracts a year ago, whilst the exchange registered a 4.17 percent drop when compared to 24,000 contracts in October 2017.

Finally, the overall financial results, which also include interest rates and equity indices, featured a decline of 10.26 percent year-on-year after revealing only 2.14 million contracts per day compared to 2.38 million in November 2016.

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