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On October 8th, the IPE Gas Oil contract traded 64,574 lots, an increase of 3,935 lots over the previous record of 60,639 set on June 12, 2001. The new record level represents the equivalent of over 6.4 million tonnes of distillate.
"The IPE Gas Oil futures contract continues to demonstrate its success as a truly international trading tool," said Jackie Bullimore, Head of Oil Markets. "Recent record levels of open interest alongside this new traded volume high reflect the key role this contract plays in the trading and risk management strategies of market participants."
The IntercontinentalExchange electronic trading system is used by traders each day of the business week to trade more than 600 listed commodity and derivative contract types around the world. Broadly, these include crude oil and refined products, natural gas, power, precious metals, weather derivatives, emissions allowances and coal. Contract forms include physical delivery as well as financially settled swaps, spreads, differentials and options based on a variety of fixed and floating price indices.
Based in Atlanta, (and with offices in New York, Houston, Chicago, London and Singapore), IntercontinentalExchange also owns the International Petroleum Exchange of London (IPE), an energy futures and options exchange. The IPE provides regulated open outcry and electronic marketplaces where industry participants use futures and options to manage their price risk exposure in the physical energy market. Products traded on the IPE include Brent Crude futures and options, Gas Oil futures and options, and Natural Gas futures.
For more information about IntercontinentalExchange, please visit the website at http://www.intcx.com. More information about IPE can be found at www.ipe.uk.com.
