ICE Reports Record Open Interest Across its Global Natural Gas Markets with Record Trading Activity in Natural Gas Options
April 11 2024 - 8:00AM
Business Wire
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
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version on businesswire.com: https://www.businesswire.com/news/home/20240411360080/en/
ICE Media Contact: Jess Tatham jess.tatham@ice.com
+44 7377 947136
ICE Investor Contact: Katia Gonzalez
katia.gonzalez@ice.com (678) 981-3882
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