Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced record open interest (OI) across its global natural gas futures and options markets as well as record trading activity in global natural gas options.
On March 22, 2024, ICE’s global natural gas futures and options hit record OI of 40.2 million contracts, up 29% year-over-year (y/y). In North America, OI across ICE’s Henry Hub futures and options is up 33% y/y. These markets offer market participants the most liquid contracts to hedge long term exposure to U.S. natural gas prices. Meanwhile, ICE’s U.S. financial gas markets hit record OI of over 11 million futures and options contracts on April 1, 2024. ICE’s U.S. financial gas markets cover 70 hubs across North America allowing customers to manage regional supply and demand dynamics.
TTF, the global benchmark for natural gas, hit record OI of 4.3 million across futures and options contracts on March 25, 2024, up 90% y/y. ICE’s TTF markets finished 2023 with record OI, record volume and record participation and in Q1 2024 continued to hit further volume and average daily volume (ADV) highs.
ICE offers customers the most liquid contracts to manage longer term exposure to natural gas prices with liquidity in ICE Henry Hub stretching out to October 2033 and in TTF out to December 2032.
“For over 20 years, ICE has been building a global energy network which includes the broadest range of liquid benchmarks to support natural gas markets globally,” said Trabue Bland, SVP, Futures Markets at ICE. “Our network provides our customers with the liquidity, transparency and margin offsets they need to manage their price risk and respond to the changing supply and demand dynamics impacting natural gas through the year.”
In addition, ICE’s global natural gas options market hit record traded volume in Q1 2024 of almost 38 million contracts, beating the previous record set in Q1 2012. Traded volume in ICE’s North American natural gas options hit a record of 30.6 million contracts during the quarter, as Henry Hub options also hit record volume of 30.4 million contracts, surpassing the last record in Q1 2012. TTF options continue to perform strongly, hitting record volume and record ADV in Q1 2024 and on March 25, 2024, hit record OI of 2.3 million contracts, up 122% y/y.
ICE is home to the broadest range of natural gas benchmarks including the global benchmark TTF, U.S. benchmark Henry Hub, Canadian benchmark AECO, UK benchmark NBP, and ICE JKM LNG (Platts) the benchmark for natural gas for North-East Asia. ICE’s global natural gas portfolio is one part of its global energy markets which are the most liquid in the world to trade energy derivatives.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 2, 2024.
Category: EXCHANGES
ICE- CORP
Source: Intercontinental Exchange
View source version on businesswire.com: https://www.businesswire.com/news/home/20240411360080/en/
Contacts
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+44 7377 947136
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