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Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today reported December exchange traded volume.
ICE’s December 2015 futures and options average daily volume (ADV) increased 17% compared to December 2014.
- Commodity ADV increased 8% led by Brent, gasoil, other oil, natural gas and sugar ADV up 9%, 44%, 4%, 1% and 25%, respectively, year to year.
- Financials ADV increased 30% year to year primarily due to higher volatility in the European short-term interest rate markets.
NYSE’s cash equities ADV increased 2%, while NYSE’s equity options ADV decreased 15% in December 2015 compared to the prior December. NYSE’s cash equities market share was 24.3% and NYSE’s options market share was 19.5% for December 2015.
For the fourth quarter, ICE’s futures and options ADV increased 8% and NYSE’s cash equities ADV increased 1%, while NYSE’s equity options ADV declined 17% over the prior fourth quarter.
|
ICE Futures & Options ADV (contracts in 000s) |
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| ADV Dec | ADV Dec | Change | ADV | ADV | Change | |||||||||
| 2015 | 2014 | y/y | 4Q15 | 4Q14 | y/y | |||||||||
| COMMODITIES | ||||||||||||||
| Energy | ||||||||||||||
| Brent (1) | 731 | 671 | 9% | 739 | 754 | -2% | ||||||||
| Gasoil (2) | 239 | 165 | 44% | 259 | 208 | 25% | ||||||||
| Other Oil (3) | 297 | 286 | 4% | 321 | 298 | 8% | ||||||||
| TOTAL OIL | 1,266 | 1,123 | 13% | 1,319 | 1,260 | 5% | ||||||||
| Natural Gas (4) | 952 | 939 | 1% | 964 | 1,052 | -8% | ||||||||
| Power (5) | 108 | 115 | -6% | 112 | 108 | 3% | ||||||||
| Emissions & Other (6) | 42 | 34 | 23% | 38 | 37 | 3% | ||||||||
| TOTAL ENERGY | 2,368 | 2,212 | 7% | 2,432 | 2,457 | -1% | ||||||||
| Agricultural | ||||||||||||||
| Sugar (7) | 104 | 83 | 25% | 142 | 93 | 52% | ||||||||
| Other Ags & Metals (8) | 145 | 126 | 15% | 187 | 159 | 17% | ||||||||
| TOTAL AGRICULTURAL & METALS | 249 | 210 | 19% | 329 | 252 | 30% | ||||||||
| TOTAL COMMODITIES | 2,618 | 2,421 | 8% | 2,761 | 2,709 | 2% | ||||||||
| FINANCIALS | ||||||||||||||
| Interest Rates | ||||||||||||||
| Short-term Interest Rates (9) | 1,361 | 870 | 56% | 1,443 | 1,056 | 37% | ||||||||
| Medium & Long-term Interest Rates (10) | 145 | 142 | 2% | 177 | 190 | -7% | ||||||||
| TOTAL INTEREST RATES | 1,505 | 1,012 | 49% | 1,620 | 1,246 | 30% | ||||||||
| TOTAL EQUITY INDICES (11) | 555 | 550 | 1% | 402 | 447 | -10% | ||||||||
| TOTAL FX & CREDIT (12) | 47 | 53 | -11% | 38 | 46 | -18% | ||||||||
| TOTAL FINANCIALS | 2,107 | 1,615 | 30% | 2,061 | 1,739 | 18% | ||||||||
| TOTAL FUTURES & OPTIONS | 4,724 | 4,036 | 17% | 4,822 | 4,448 | 8% | ||||||||
| Note: Figures may not foot due to rounding. |
| (1) “Brent” includes the standard size contracts at ICE Futures Europe, as well as mini Brent contracts on ICE Futures Singapore, which are converted to standard ICE Futures Europe equivalent contracts (mini Brent contracts are divided by 10). |
| (2) “Gasoil” includes the standard size contracts at ICE Futures Europe, as well as mini Gasoil contracts on ICE Futures Singapore, which are converted to standard ICE Futures Europe equivalent contracts (mini Gasoil contracts are divided by 10). |
| (3) “Other Oil” includes futurized oil, WTI, Heating Oil, RBOB Gasoline and Middle East Sour Crude, excludes Daily Brent Bullets. |
| (4) “Natural Gas” includes North American, UK and European Natural Gas. |
| (5) “Power” includes North American, UK and European Power. |
| (6) “Emissions & Other” includes emissions, freight, coal, iron ore and uranium. |
| (7) “Sugar” includes Sugar No. 11, Sugar No. 16 and White Sugar. |
| (8) “Other Ags & Metals” includes Cocoa ($), Cocoa (£),Coffee “C”, Robusta Coffee, Cotton No. 2, Orange Juice, Corn, Feed Wheat, Soybeans, Barley, Canola, Mini Silver and Mini Gold contracts. |
| (9) “Short-term Interest Rates” includes Euribor®, Sterling, Swiss, Eonia, Eurodollar, Short Gilt, European Government Bonds and DTCC GCF Repo Index® contracts. |
| (10) “Medium & Long-Term Rates” includes Gilt, Swapnotes, Japanese Government Bonds, European Government Bonds, Treasuries and U.S. Government Bonds and Ultrabond contracts and ERIS interest rate futures. |
| (11) “TOTAL EQUITY INDICES” includes FTSE 100®, FTSE 100 Dividend®, price return and net total return versions of MSCI EAFE®, MSCI Emerging Markets®, MSCI Europe®, MSCI World®, Russell 2000® and Russell 1000®. |
| (12) “TOTAL FX & CREDIT” includes futures and options for the U.S. Dollar Index, foreign exchange and ERIS credit futures. |
|
ICE Futures & Options Rolling Three-Month Average Rate per Contract (RPC) |
||||||
| Three Months | Three Months | Three Months | ||||
|
Futures & Options |
Ending | Ending | Ending | |||
|
Products |
Dec 2015 | Nov 2015 | Oct 2015 | |||
| Energy |
$1.30 |
$1.31 | $1.29 | |||
| Agricultural & Metals | $2.25 | $2.28 | $2.28 | |||
| Total Commodities |
$1.42 |
$1.44 | $1.43 | |||
| Interest Rates | $0.54 | $0.53 | $0.54 | |||
| Total Financials |
$0.65 |
$0.66 | $0.68 | |||
RPC is calculated by dividing transaction revenues by contract volume, and may vary based on pricing, customer and product mix. RPC is subject to revision based on final numbers.
|
ICE Futures & Options Open Interest (contracts in 000s) |
||||
| Dec 31, 2015 | Dec 31, 2014 | |||
| Energy | 36,333 | 38,436 | ||
| Agricultural & Metals | 3,878 | 3,308 | ||
| Total Commodities | 40,211 | 41,744 | ||
| Interest Rates | 19,143 | 13,042 | ||
| Total Financials | 23,453 | 17,610 | ||
|
NYSE Equity Options (contracts in 000s) |
||||||||||||
| ADV Dec | ADV Dec | Change | ADV | ADV | Change | |||||||
| 2015 | 2014 | y/y | 4Q15 | 4Q14 | y/y | |||||||
| NYSE Equity Options(1) | 2,711 | 3,194 | -15% | 2,946 | 3,553 | -17% | ||||||
| Total U.S. Options Volume | 13,905 | 14,460 | -4% | 14,436 | 16,015 | -10% | ||||||
| NYSE Share of Group Total | 19.5% | 22.1% | -2.6pts | 20.4% | 22.2% | -1.8pts | ||||||
(1) “NYSE Equity Options” includes NYSE Amex Options and NYSE Arca Options trading in U.S. equity options contracts.
|
NYSE Equity Options Rolling Three-Month Average Rate per Contract (RPC) |
||||||
| Three Months | Three Months | Three Months | ||||
| Ending | Ending | Ending | ||||
| Dec 2015 | Nov 2015 | Oct 2015 | ||||
| NYSE Equity Options | $0.14 | $0.14 | $0.13 | |||
|
NYSE Cash Products (shares in millions) |
||||||||||||
| ADV Dec | ADV Dec | Change | ADV | ADV | Change | |||||||
| 2015 | 2014 | y/y | 4Q15 | 4Q14 | y/y | |||||||
| NYSE Listed (Tape A) Issues | ||||||||||||
| Handled Volume (1) | 1,243 | 1,216 | 2% | 1,239 | 1,200 | 3% | ||||||
| Matched Volume(2) | 1,227 | 1,192 | 3% | 1,222 | 1,175 | 4% | ||||||
| Total NYSE Listed Consolidated Volume | 3,828 | 3,719 | 3% | 3,859 | 3,754 | 3% | ||||||
| Share of Total Matched Consolidated Volume | 32.1% | 32.1% | 0.0pts | 31.7% | 31.3% | 0.4pts | ||||||
| NYSE Arca, MKT and Regional (Tape B) Listed Issues | ||||||||||||
| Handled Volume (1) | 344 | 338 | 2% | 311 | 335 | -7% | ||||||
| Matched Volume(2) | 330 | 323 | 2% | 298 | 318 | -6% | ||||||
| Total NYSE Arca and MKT Listed Consolidated Volume | 1,499 | 1,389 | 8% | 1,332 | 1,353 | -2% | ||||||
| Share of Total Matched Consolidated Volume | 22.0% | 23.2% | -1.2pts | 22.4% | 23.5% | -1.2pts | ||||||
| Nasdaq Listed (Tape C) Issues | ||||||||||||
| Handled Volume (1) | 198 | 188 | 6% | 210 | 209 | 0% | ||||||
| Matched Volume(2) | 188 | 176 | 7% | 199 | 195 | 2% | ||||||
| Total Nasdaq Listed Consolidated Volume | 1,849 | 1,808 | 2% | 1,876 | 1,922 | -2% | ||||||
| Share of Total Matched Consolidated Volume | 10.2% | 9.7% | 0.4pts | 10.6% | 10.2% | 0.5pts | ||||||
| TOTAL NYSE Cash Market Share Matched | 24.3% | 24.4% | -0.1pts | 24.3% | 24.0% | 0.3pts | ||||||
| TOTAL NYSE ADV Cash Shares Handled | 1,785 | 1,743 | 2% | 1,759 | 1,743 | 1% | ||||||
| (1) | “Handled Volume” represents the total number of shares of equity securities, exchange traded funds (ETFs) and crossing session activity internally matched on NYSE Group’s exchanges or routed to and executed on an external market center. | |
| (2) | “Matched Volume” represents the total number of shares of equity securities, ETFs and crossing session activity executed on NYSE Group’s exchanges. |
| NYSE Cash Rolling Three-Month Revenue Capture | ||||||
|
(per 100 shares) |
||||||
| Three Months | Three Months | Three Months | ||||
| Ending | Ending | Ending | ||||
| Dec 2015 | Nov 2015 | Oct 2015 | ||||
| NYSE Cash Products | $0.049 | $0.050 | $0.049 | |||
Credit Default Swaps (CDS) Transaction and Clearing
- Fourth quarter 2015 revenues from ICE’s CDS trade execution, processing and clearing businesses totaled $34 million, compared to$39 million in the prior fourth quarter, and included $24 million in CDS clearing revenues, compared to $25 million in the fourth quarter 2014.
- ICE cleared $2.7 trillion in gross notional value of CDS in the fourth quarter 2015 compared to $4.1 trillion in gross notional cleared in the fourth quarter 2014.
- More information can be found at: https://www.theice.com/clear-credit
Financial and Reporting Update
- For the fourth quarter, following the closing of ICE’s acquisitions of Trayport and Interactive Data Corporation on December 11 and 14, respectively, ICE expects incremental revenue in the range of $48 million to $52 million, which will be included in data services revenue. ICE expects incremental fourth quarter adjusted operating expenses related to the acquisitions in the range of $33 million to$35 million.
- ICE issued approximately 9.0 million common shares as part of the consideration for the Interactive Data Corporation and Trayport acquisitions, resulting in total shares outstanding of 119 million on December 31, 2015; fourth quarter weighted average shares outstanding were approximately 112 million shares.
Trading days in December 2015:
- Interest Rates, Equity Indices: 22
- Commodities, Other Financials: 22
- Cash Equities, Equity Options: 22
