Intercontinental Exchange Reports ICE and NYSE Volume for February 2015; Record Daily Oil Volume, up 59% over Prior February 

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Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today reported February exchange traded volume.

ICE’s February 2015 futures and options average daily volume (ADV) declined 6% compared to February 2014.

  • Commodity ADV increased 11% led by Brent, Gasoil and Other Oil up 61%, 38% and 74%, respectively, from the prior February.
  • ADV records were set in Brent, Gasoil, Total Oil futures, WTI options as well as UK Natural Gas futures and TTF Natural Gas futures and options. Open interest records were set in Brent futures and options, WTI options and UK Natural Gas futures and options.
  • Financials ADV declined 25% from the previous February primarily due to continued low volatility in Continental European short-term interest rates.

ADV for NYSE’s U.S. cash equities increased 5%, while U.S. equity options ADV declined 32% over the prior February. NYSE’s U.S. cash equities market share was 23.8% and NYSE’s U.S. options market share was 18.8%.

ICE Futures & Options ADV (contracts in 000s)
ADV Feb ADV Feb Change
2015 2014 y/y
COMMODITIES
Energy
Brent 969 601 61%
Gasoil 319 231 38%
Other Oil (1) 437 250 74%
TOTAL OIL 1,724 1,083 59%
Natural Gas (2) 1,128 1,335 -16%
Power (3) 127 132 -4%
Emissions & Other (4) 42 59 -28%
TOTAL ENERGY 3,022 2,609 16%
Agricultural
Sugar (5) 222 263 -16%
Other Ags & Metals (6) 235 254 -8%
TOTAL AGRICULTURAL & METALS 457 518 -12%
TOTAL COMMODITIES 3,478 3,126 11%
FINANCIALS
Interest Rates
Short-term Interest Rates (7) 1,278 1,851 -31%
Medium & Long-term Interest Rates (8) 249 235 6%
TOTAL INTEREST RATES 1,526 2,086 -27%
Equity Indices (9) 306 414 -26%
Single Stock Equities (10) 287 366 -21%
TOTAL EQUITY DERIVATIVES 594 780 -24%
TOTAL FX (11) 39 23 69%
TOTAL FINANCIALS 2,159 2,889 -25%
TOTAL FUTURES & OPTIONS 5,637 6,015 -6%
Note: Figures may not foot due to rounding.

 

(1) “Other Oil” includes futurized oil, WTI, Heating Oil, RBOB Gasoline and Middle East Sour Crude. Excludes Daily Brent Bullet contracts.
(2) “Natural Gas” includes North American, UK and European Natural Gas.
(3) “Power” includes North American, UK and European Power.
(4) “Emissions & Other” includes all emissions contracts, freight, coal, iron ore and uranium.
(5) “Sugar” includes Sugar No. 11, Sugar No. 16 and White Sugar.
(6) “Other Ags & Metals” includes Cocoa ($), Cocoa (£),Coffee “C”, Robusta Coffee, Cotton No. 2, Orange Juice, Corn, Feed Wheat, Soybeans, Barley, Canola, Mini Gold and Mini Silver contracts.
(7) “Short-term Interest Rates” includes Euribor, Sterling, Swiss, Eonia, Eurodollar, Short Gilt, European Government Bonds and DTCC GCF Repo Index® contracts.
(8) “Medium & Long-Term Rates” includes Gilt, Swapnotes, Japanese Government Bonds, European Government Bonds, Treasuries and U.S. Government Bonds and Ultrabond contracts.
(9) “Equity Indices” includes FTSE 100®, FTSE 100 Dividend®, price return and net total return versions of MSCI EAFE®, MSCI Emerging Markets®, MSCI Europe®, and MSCI World®, Russell 2000®, Russell 1000®.
(10) “Single Stock Equities” includes equities domiciled in 25 countries that trade in the UK.
(11) “TOTAL FX” includes futures and options for the U.S. Dollar Index and foreign exchange.

 

ICE Futures & Options Rolling Three-Month Average Rate per Contract (RPC)
Three Months Three Months Three Months
Futures & Options Ending Ending Ending
Products Feb 2015 Jan 2015 Dec 2014
Energy $1.33 $1.31 $1.31
Agricultural & Metals $2.40 $2.37 $2.36
Total Commodities $1.45 $1.41 $1.41
Interest Rates $0.61 $0.63 $0.67
Total Financials $0.64 $0.66 $0.67

RPC is calculated by dividing transaction revenues by contract volume, and may vary based on pricing, customer and product mix. RPC is subject to revision based on final numbers.

ICE Futures & Options Open Interest (contracts in 000s)
Feb 27, 2015 Dec 31, 2014
Energy 40,253 38,436
Agricultural & Metals 3,194 3,308
Total Commodities 43,447 41,744
Interest Rates 16,391 13,042
Total Financials 30,763 26,385

 

U.S. Equity Options (contracts in 000s)
ADV Feb ADV Feb Change
2015 2014 y/y
NYSE Equity Options(1) 2,726 4,001 -32%
Total U.S. Options Volume 14,488 16,168 -10%
NYSE Share of Group Total 18.8% 24.7% -5.9pts

(1) “NYSE Equity Options” includes NYSE Amex Options and NYSE Arca Options trading in U.S. equity options contracts.

NYSE U.S. Equity Options Rolling Three-Month Average Rate per Contract (RPC)
Three Months Three Months Three Months
Ending Ending Ending
Feb 2015 Jan 2015 Dec 2014
NYSE US Equity Options $0.18 $0.17 $0.16

 

NYSE U.S. Cash Products (shares in millions)
ADV Feb ADV Feb Change
2015 2014 y/y
NYSE Listed (Tape A) Issues
Handled Volume (1) 1,145 1,101 4%
Matched Volume(2) 1,124 1,073 5%
Total NYSE Listed Consolidated Volume 3,639 3,701 -2%
Share of Total Matched Consolidated Volume 30.9% 29.0% 1.9pts
NYSE Arca, MKT and Regional (Tape B) Listed Issues
Handled Volume (1) 307 269 14%
Matched Volume(2) 291 254 15%
Total NYSE Arca and MKT Listed Consolidated Volume 1,271 1,225 4%
Share of Total Matched Consolidated Volume 22.9% 20.7% 2.2pts
Nasdaq Listed (Tape C) Issues
Handled Volume (1) 216 217 0%
Matched Volume(2) 202 197 3%
Total Nasdaq Listed Consolidated Volume 1,888 2,108 -10%
Share of Total Matched Consolidated Volume 10.7% 9.3% 1.4pts
TOTAL U.S. Cash Market Share Matched 23.8% 21.7% 2.1pts
TOTAL ADV U.S. Cash Shares Handled 1,668 1,587 5%

 

(1) “Handled Volume” represents the total number of shares of equity securities, exchange traded funds (ETFs) and crossing session activity internally matched on NYSE Group’s exchanges or routed to and executed on an external market center.
(2) “Matched Volume” represents the total number of shares of equity securities, ETFs and crossing session activity executed on NYSE Group’s exchanges.
NYSE U.S. Cash Rolling Three-Month Revenue Capture
(per 100 shares)
Three Months Three Months Three Months
Ending Ending Ending
Feb 2015 Jan 2015 Dec 2014
U.S. Cash Products $0.052 $0.052 $0.051

Credit Default Swaps (CDS) Transaction and Clearing

  • Through February 27, ICE has cleared $63 trillion in gross notional value of CDS on a cumulative basis across 2.2 million trades with open interest of $1.5 trillion. Cumulative buy-side clearing of CDS totaled $11.9 trillion since the launch of client clearing. ICE lists over 500 CDS instruments for clearing. A complete summary can be found at: https://www.theice.com/clear-credit.

Business & Reporting Updates

  • Due to the April 3 market holiday, ICE’s March volume release will be issued on Monday, April 6.
  • Volume and open interest records for futures and options are provided in ICE’s Report Center.

Trading days in February 2015:

  • Interest Rates, Single Stock Equity Derivatives: 20
  • Commodities, Other Financials: 19
  • US Cash Equities, US Equity Options: 19

Source: Intercontinental Exchange 

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