Ahead of the 10 October expiry, the IPE Gas Oil futures contract traded 80,076 lots from a combination of both open outcry and electronic trading, shattering the previous record, of 70,373 set on 8 January 2003 by approximately 14%.
The records come at the end of a week in which the Exchange introduced parallel trading for its flagship Brent Crude futures contract. Whilst it remains early days for parallel trading, the Exchange has seen consistent bids and offers placed on the ICE platform and steady trading. With over 300 traders registered for electronic trading, the IPE has begun to see customer orders routed through to the Exchange.
Chief Executive, Richard Ward said, "Yesterday's trading on the Exchange has clearly emphasized the importance to customers of the IPE as the market of choice in volatile conditions. The addition of parallel trading for the Brent contract to serve alongside open outcry will give customers every opportunity to manage their risk via the Exchange."
