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Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that the Dutch TTF Gas futures contract achieved record volume in futures for October, and hit a new record for Open Interest (OI).
In October, a total of 749 TWh, equating to 1,029,021 lots of TTF Futures, were traded during the month, an increase of 17% compared to the previous record of September 2018 where 642 TWh traded (877,477 lots). The previous TTF OI record of 753,018 lots set on 19 June 2018 was beaten by a new record of 754,669 lots on 26 October. ICE reports OI net in line with standard industry practice.
TTF is the most liquid natural gas trading hub in Europe alongside UK NBP. This record volume reflects Europe’s role as the balancing market for LNG and TTF’s growing importance as a global gas benchmark. As spot shipping rates increased, LNG cargoes headed for Europe and the spread between TTF and JKM tightened.
In Europe, ICE is the most liquid on-exchange marketplace for trading and hedging through the NBP and TTF futures contracts. These are part of ICE’s global natural gas complex, which includes the North American natural gas basis markets, Henry Hub futures and ICE JKM LNG (PLATTS), which has become the benchmark for natural gas in the Asian region. ICE offers the broadest range of natural gas benchmarks across the US, Canada, Europe and Asia.
