ICE Announces Record Activity in Gilts and Sterling Rates Complex
March 04 2021 - 7:10AM
Business Wire
Gilts reach record Single Day Volume of
1.91M and record ADV of more than 459,000 contracts
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator
of global exchanges and clearing houses and provider of mortgage
technology, data and listings services, announced record activity
across its benchmark Gilts and Sterling rates complex as the market
manages Sterling-related risk.
ICE Gilt futures and options, the highly liquid market
benchmarks for UK Government Bonds, reached a Single Day Volume
record of more than 1.91 million contracts and record Average Daily
Volume (ADV) of more than 459,000 contracts during February.
Available in a range of maturities out to 30 years, ICE Gilt
futures and options provide trading opportunities for market
participants looking to hedge or gain exposure to interest rates
around anticipated central bank rate changes, with the benchmark
ICE Long Gilt futures used by the market to manage the intermediate
term of the UK government bond yield curve.
Short Sterling futures and options, the benchmark for managing
UK interest rate risk, reached record open interest of more than
20.1 million contracts on March 1, 2021. SONIA Futures and Options,
the RFR-equivalent benchmark for Short Sterling, reached record ADV
of more than 144,000 contracts, and sits at a record for Open
Interest of more than 216,000 contracts. On February 25, SONIA had
a record day for volume with more than 390,000 contracts
traded.
“The growth in our GBP rates complex reflects both the depth of
liquidity we offer, as well the extent of activity taking place as
the market manages its exposure to Gilts and Sterling-related
risk”, said Steve Hamilton, Global Head of Financial Derivatives at
ICE. “ICE has seen multiple, sustained records across its GBP
complex. We have continued to innovate to support the needs of our
customers through LIBOR-transition, recently launching ERIS
Interest Rate Futures and Three Month SARON Index Futures.”
As one of the leading venues for interest rate derivatives, ICE
offers a comprehensive range of benchmark products alongside its
Sterling rates complex including Euribor futures and options, SOFR
futures and €STR futures.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500
company and provider of marketplace infrastructure, data services
and technology solutions to a broad range of customers including
financial institutions, corporations and government entities. We
operate regulated marketplaces, including the New York
Stock Exchange, for the listing, trading and clearing of
a broad array of derivatives contracts and financial securities
across major asset classes. Our comprehensive data services
offering supports the trading, investment, risk management and
connectivity needs of customers around the world and across asset
classes. As a leading technology provider for the U.S. residential
mortgage industry, ICE Mortgage Technology provides the
technology and infrastructure to transform and digitize U.S.
residential mortgages, from application and loan origination
through to final settlement.
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, 2020, as
filed with the SEC on February 4, 2021.
ICE-CORP
Source: Intercontinental Exchange
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version on businesswire.com: https://www.businesswire.com/news/home/20210304005568/en/
ICE Media Contact Rebecca Mitchell +44 7951 057351
rebecca.mitchell@theice.com
ICE Investor Contact: Warren Gardiner 770-835-0114
Warren.Gardiner@theice.com
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