NEW YORK - Intercontinental Exchange, Inc. (NYSE:ICE), a prominent global provider of financial market data and infrastructure, has reported a significant increase in February 2024 trading volumes across various commodities, with records set in agricultural and metal average daily volumes (ADVs) and open interest (OI).
The company, which operates key exchanges including the New York Stock Exchange, saw its total average daily volume rise by 19% year-over-year, with open interest increasing by 21%. Notably, on February 23, record open interest of 92.3 million lots was achieved.
In the energy sector, ADVs surged by 31% compared to the previous year, with open interest up by 24%, marking record figures. The oil segment also experienced robust growth, with total oil ADVs up 24% year-over-year and open interest growing by 22%. West Texas Intermediate (WTI) crude saw particularly strong performance, with a 62% increase in ADV and a 32% rise in open interest.
Natural gas trading volumes showed impressive gains, with total natural gas ADVs up 42% and open interest up 29% year-over-year, including a record open interest of 39.6 million lots on February 23. Record trading volumes were also reported in the Title Transfer Facility (TTF) gas and Asia gas markets.
Environmental markets saw a 26% increase in ADVs, while open interest grew by 6%. In agricultural and metal commodities, record ADVs were up 19%, and open interest was up 16% year-over-year. Cocoa, in particular, stood out with a 75% increase in ADV and a 48% rise in open interest, including record options open interest of 1.3 million lots on February 28.
Financial markets also experienced growth, with total financials ADVs up 5% and open interest up 15% year-over-year. Interest rate products, including the Sterling Overnight Index Average (SONIA), saw record ADVs and significant increases in open interest.
Equity markets operated by ICE, including the NYSE, reported a 6% increase in equity options ADVs and a 5% rise in cash equities ADVs year-over-year.
This data reflects the robust activity across Intercontinental Exchange's global platforms, offering insights into trading trends and market liquidity. The company continues to play a pivotal role in providing technology and data services that facilitate transparency and efficiency in financial markets.
The information in this article is based on a press release statement from Intercontinental Exchange.
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