This new daily record is 2% above the one previously set on 11 December 2002 when 68,898 lots were traded. The volume traded has an underlying value of approximately $1.7 billion and is equivalent to 52.4 million barrels of crude oil.
"In an extremely volatile market and as the January IPE Gas Oil contract moves towards expiry, yet another record has been set" said Jackie Bullimore Head of Oil Markets. "This new daily record is a reflection of how much spread trading occurs towards expiry as users maintain their positions in this valuable risk management and trading tool."
About IntercontinentalExchange
IntercontinentalExchange operates global OTC and futures marketplaces for the trading of energy and metals products. Based in Atlanta, with offices in Chicago, Houston, London, New York and Singapore, IntercontinentalExchange also owns the International Petroleum Exchange of London (IPE), Europe's leading energy futures and options exchange. The IntercontinentalExchange electronic platform is used by thousands of traders and trading operations professionals every business day to trade more than 600 listed commodity and derivative contract types around the world, including crude oil and refined products, natural gas, power, precious metals, weather derivatives and emissions allowances. 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. Intercontinental also supports the broader trading infrastructure with OTC cleared products and credit management, eConfirm, and market data services offered through The 10x Group.
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 www.theice.com. More information about The 10xGroup is available at www.10xGroup.com. The website for the International Petroleum Exchange can be found at www.ipe.uk.com.
