Volumes in the first fully electronic morning session exceeded 14,000 lots and set a new electronic Brent record with 42 participant firms trading on the screen and over 500 users logging in. Volume in the floor session reached 94,361 lots. At the close, open interest stood at 359,697 lots.
In the months leading up to the launch, the IPE doubled its number of available Local memberships. More recently, the IPE added 7 new members and is currently reviewing more than15 new membership applications. There are multiple accesses to the Interchangesm trading platform: to date, six Independent Software Vendors (ISV’s) have connected and there have been two member direct connections, all of which is in addition to the WebICE front-end, which has over 5,000 screens distributed globally.
“Robust trade on the floor and the screen will expand the size of our London-based energy markets and ensure the integrity of this vital energy marketplace,” said Sir Bob Reid, IPE’s Chairman. “The appetite for an accessible global oil benchmark is rising. The IPE has experienced strong demand from diverse interests within the international trading community to develop its electronic markets while maintaining the liquidity of the floor.”