Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today reported January exchange traded volume.
ICE’s January 2015 average daily volume (ADV) declined 7% compared to January 2014.
- Commodity ADV increased 7% led by Brent, Gasoil and Other Oil up 42%, 9% and 51%, respectively, from the prior January.
- Financials ADV declined 22% from the previous January primarily due to continued low Continental European short-term interest rates, partially offset by a 6% increase in equity index ADV.
ADV for NYSE’s U.S. cash equities increased 19%, while U.S. equity options ADV declined 26% over the prior January. NYSE’s U.S. cash equities market share increased 3 percentage points to 23.9% and NYSE’s U.S. options market share was 18.3%.
ICE Futures & Options ADV (contracts in 000s) |
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ADV Jan | ADV Jan | Change | ||||||||||
2015 | 2014 | y/y | ||||||||||
COMMODITIES | ||||||||||||
Energy | ||||||||||||
Brent | 941 | 661 | 42% | |||||||||
Gasoil | 267 | 245 | 9% | |||||||||
Other Oil (1) | 394 | 260 | 51% | |||||||||
TOTAL OIL | 1,602 | 1,167 | 37% | |||||||||
Natural Gas (2) | 1,238 | 1,430 | -13% | |||||||||
Power (3) | 120 | 127 | -6% | |||||||||
Emissions & Other (4) | 45 | 48 | -6% | |||||||||
TOTAL ENERGY | 3,004 | 2,771 | 8% | |||||||||
Agricultural | ||||||||||||
Sugar (5) | 156 | 152 | 3% | |||||||||
Other Ags & Metals (6) | 175 | 185 | -5% | |||||||||
TOTAL AGRICULTURAL & METALS | 331 | 337 | -2% | |||||||||
TOTAL COMMODITIES | 3,335 | 3,108 | 7% | |||||||||
FINANCIALS | ||||||||||||
Interest Rates | ||||||||||||
Short-term Interest Rates (7) | 1,385 | 2,055 | -33% | |||||||||
Medium & Long-term Interest Rates (8) | 184 | 151 | 22% | |||||||||
TOTAL INTEREST RATES | 1,570 | 2,206 | -29% | |||||||||
Equity Indices (9) | 369 | 349 | 6% | |||||||||
Single Stock Equities (10) | 219 | 268 | -18% | |||||||||
TOTAL EQUITY DERIVATIVES | 589 | 617 | -5% | |||||||||
TOTAL FX (11) | 51 | 26 | 93% | |||||||||
TOTAL FINANCIALS | 2,209 | 2,849 | -22% | |||||||||
TOTAL FUTURES & OPTIONS | 5,545 | 5,957 | -7% | |||||||||
Note: Figures may not foot due to rounding. |
(1) | “Other Oil” includes futurized oil, WTI, Heating Oil, RBOB Gasoline and Middle East Sour Crude. Excludes Daily Brent Bullet contracts. | |
(2) | “Natural Gas” includes North American, UK and European Natural Gas. | |
(3) | “Power” includes North American, UK and European Power. | |
(4) | “Emissions & Other” includes all emissions contracts, freight, coal, iron ore and uranium. | |
(5) | “Sugar” includes Sugar No. 11, Sugar No. 16 and White Sugar. | |
(6) | “Other Ags & Metals” includes Cocoa ($), Cocoa (£),Coffee “C”, Robusta Coffee, Cotton No. 2, Orange Juice, Corn, Feed Wheat, Soybeans, Barley, Canola, Mini Gold and Mini Silver contracts. | |
(7) | “Short-term Interest Rates” includes Euribor, Sterling, Swiss, Eonia, Eurodollar, Short Gilt, European Government Bonds and DTCC GCF Repo Index® contracts. | |
(8) | “Medium & Long-Term Rates” includes Gilt, Swapnotes, Japanese Government Bonds, European Government Bonds, Treasuries and U.S. Government Bonds and Ultrabond contracts. | |
(9) | “Equity Indices” includes FTSE 100®, FTSE 100 Dividend®, price return and net total return versions of MSCI EAFE®, MSCI Emerging Markets®, MSCI Europe®, and MSCI World®, Russell 2000®, Russell 1000®. | |
(10) | “Single Stock Equities” includes equities domiciled in 25 countries that trade in the UK. | |
(11) | “TOTAL FX” includes futures and options for the U.S. Dollar Index and foreign exchange. |
ICE Futures & Options Rolling Three-Month Average Rate per Contract (RPC) |
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Three Months | Three Months | Three Months | ||||||||||
Futures & Options | Ending | Ending | Ending | |||||||||
Products | Jan 2015 | Dec 2014 | Nov 2014 | |||||||||
Energy | $1.31 | $1.31 | $1.30 | |||||||||
Agricultural & Metals | $2.37 | $2.36 | $2.41 | |||||||||
Total Commodities | $1.40 | $1.41 | $1.42 | |||||||||
Interest Rates | $0.64 | $0.67 | $0.67 | |||||||||
Total Financials | $0.67 | $0.67 | $0.67 |
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) |
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Jan 31, 2015 | Dec 31, 2014 | |||||||
Energy | 40,946 | 38,436 | ||||||
Agricultural & Metals | 3,631 | 3,308 | ||||||
Total Commodities | 44,577 | 41,744 | ||||||
Interest Rates | 15,005 | 13,042 | ||||||
Total Financials | 29,284 | 26,385 |
U.S. Equity Options (contracts in 000s) |
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ADV Jan | ADV Jan | Change | ||||||||||
2015 | 2014 | y/y | ||||||||||
NYSE Equity Options(1) | 2,942 | 3,976 | -26% | |||||||||
Total U.S. Options Volume | 16,034 | 16,745 | -4% | |||||||||
NYSE Share of Group Total | 18.3% | 23.7% | -5.4pts |
(1) | “NYSE Equity Options” includes NYSE Amex Options and NYSE Arca Options trading in U.S. equity options contracts. |
NYSE U.S. Equity Options Rolling Three-Month Average Rate per Contract (RPC) |
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Three Months | Three Months | Three Months | ||||||||||
Ending | Ending | Ending | ||||||||||
Jan 2015 | Dec 2014 | Nov 2014 | ||||||||||
NYSE US Equity Options | $0.17 | $0.16 | $0.16 |
NYSE U.S. Cash Products (shares in millions) |
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ADV Jan | ADV Jan | Change | ||||||||||
2015 | 2014 | y/y | ||||||||||
NYSE Listed (Tape A) Issues | ||||||||||||
Handled Volume (1) | 1,220 | 1,050 | 16% | |||||||||
Matched Volume(2) | 1,195 | 1,019 | 17% | |||||||||
Total NYSE Listed Consolidated Volume | 3,890 | 3,640 | 7% | |||||||||
Share of Total Matched Consolidated Volume | 30.7% | 28.0% | 2.7pts | |||||||||
NYSE Arca, MKT and Regional (Tape B) Listed Issues | ||||||||||||
Handled Volume (1) | 368 | 260 | 42% | |||||||||
Matched Volume(2) | 350 | 244 | 44% | |||||||||
Total NYSE Arca and MKT Listed Consolidated Volume | 1,483 | 1,163 | 27% | |||||||||
Share of Total Matched Consolidated Volume | 23.6% | 21.0% | 2.6pts | |||||||||
Nasdaq Listed (Tape C) Issues | ||||||||||||
Handled Volume (1) | 219 | 209 | 5% | |||||||||
Matched Volume(2) | 205 | 187 | 10% | |||||||||
Total Nasdaq Listed Consolidated Volume | 1,941 | 2,160 | -10% | |||||||||
Share of Total Matched Consolidated Volume | 10.6% | 8.6% | 1.9pts | |||||||||
TOTAL U.S. Cash Market Share Matched | 23.9% | 20.8% | 3.1pts | |||||||||
TOTAL ADV U.S. Cash Shares Handled | 1,807 | 1,518 | 19% |
(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 U.S. Cash Rolling Three-Month Revenue Capture (per 100 shares) |
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Three Months | Three Months | Three Months | ||||||||||
Ending | Ending | Ending | ||||||||||
Jan 2015 | Dec 2014 | Nov 2014 | ||||||||||
U.S. Cash Products | $0.051 | $0.051 | $0.050 | |||||||||
Credit Default Swaps (CDS) Transaction and Clearing
- Through January 31, ICE has cleared $62 trillion in gross notional value of CDS on a cumulative basis across 2.2 million trades with open interest of $1.5 trillion. Buy-side clearing of CDS totaled $11.5 trillion since the launch of client clearing at ICE Clear Credit in December of 2009. ICE lists over 500 CDS instruments for clearing. A complete summary of CDS clearing can be found at: https://www.theice.com/clear-credit.
January 2015 Business Review
- Daily volume records were established in ICE Endex TTF Natural Gas futures and options, NBP Natural Gas futures and options, Low Sulphur Gasoil futures, three month Euro Swiss Franc futures, Rotterdam Coal options and California Carbon Allowance futures and options.
- Total monthly volume and ADV records were established in Brent futures, UK Natural Gas futures, TTF Natural Gas futures and options, Belgian Power futures, Coal Rotterdam options and California Carbon Allowance futures and options. A monthly ADV record was also set in WTI options.
- Open interest records were set in Brent futures and options, UK Natural Gas options, TTF Natural Gas futures, Newcastle Coal options and USDX futures.
- ICE Benchmark Administration (IBA) announced the introduction of a new calculation methodology for ISDAFIX from February 16, 2015 and the appointment of Mary John Miller to its Board of Directors.
- The ICE Gasoil futures contract (G) successfully transitioned to a low sulphur specification.
- ICE introduced CDS clearing for additional sovereign single names including Portugal, Ireland, Italy and Spain at ICE Clear Credit and Austria and Belgium at ICE Clear Europe.
- ICE Futures Europe announced it expects to introduce a new euro currency cocoa contract in April 2015.
- ICE added five new currency pairs to its line-up of nearly 60 currency contracts including the most widely recognized U.S. dollar benchmark.
- The New York Stock Exchange made a minority investment in Coinbase, a leading bitcoin wallet platform.
- NYSE and MYRA Capital announced the launch of the new NYSE Dynamic Allocation Indices family.
- ICE will report fourth quarter 2014 earnings on February 5, 2015.
Trading days in January 2015:
- Interest Rates, Single Stock Equity Derivatives: 21
- Commodities, Other Financials: 20
- US Cash Equities, US Equity Options: 20