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Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today that ICE Futures Europe achieved consecutive daily volume records in trade for ICE Low Sulphur Gasoil futures. The new total daily volume records for ICE Low Sulphur Gasoil futures across ‘G’ and ‘ULS’ code contracts was set on January 5 and 6, 2015 with 190,385 lots and 254,674 lots traded, respectively. Prior to these records, the previous total daily volume record of 138,590 lots was set December 16, 2014.
The ICE Low Sulphur specification Gasoil futures contracts now represent more than 93% of total open interest for Gasoil Futures at ICE Futures Europe, with open interest currently standing at 431,358 contracts.
On January 12, the ICE Gasoil futures (G) contract will complete its transition to a 10ppm low sulphur gasoil specification with the expiry of the January 2015 contract, and it will be renamed ICE Low Sulphur Gasoil futures (G). The open interest in the previous ULS contracts from February 2015 onwards has been transitioned to the new G equivalent contract. The transition reflects increased market demand for a lower sulphur grade contract.
