IPE November Volumes Soar

The volume of trade recorded at the IPE last month reached a new high, exceeding the previous November record set in 1999. Total traded volume for November 2001 was 2,435,200 lots compared to the 2,241,176 lots traded in November 1999. The increase in volume shows a year on year growth rate for November of over 8% or 194,024 lots.

Individual contract records were also set during November 2001. IPE Brent Crude futures traded 1,696,846 lots compared to 1,532,104 lots traded in November 1999 and Gas Oil futures traded 669,388 lots compared to November 2000 when 661,092 lots were traded.

Richard Ward, Chief Executive, said, "we have broken a number of records this year demonstrating that market participants continue to use our market in times of uncertainty and volatility to manage their price risk exposure. A highly regulated market place like the IPE is an attractive alternative to other markets as counterparty risk is managed through the London Clearing House that acts as central counterparty to all trade thus guaranteeing the performance of IPE contracts".