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IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, today announced that ICE Futures Europe reached an open interest record of 7,008 contracts in ICE Low Sulphur Gasoil futures on October 23, 2013. The previous volume record was 6,977 contracts on July 5, 2012.
Volumes for ICE Low Sulphur Gasoil related derivatives instruments, such as the ICE Low Sulphur Gasoil First Line crack vs Brent future, have seen increased growth in recent months with many related contracts achieving record volumes. On October 4, 2013, the ICE Low Sulphur Gasoil First Line crack vs Brent future traded a record 3,359 contracts (1,000/bbl lot equivalents).
ICE offers 13 related derivatives instruments for low sulphur gasoil futures and options. Total open interest for these related ICE Low Sulphur Gasoil derivatives instruments was 84 million barrels as at October 18, 2013, which is equivalent to around 113,000 Low Sulphur Gasoil contracts.
The ICE Low Sulphur Gasoil futures contract is based on a 0.001% sulphur (10 ppm) diesel barge specification, reflecting the underlying European middle distillate market which has moved towards a low sulphur grade in recent years. The existing ICE Gasoil futures contract, which is based on a higher sulphur specification of 0.1% (1,000ppm), will trade up to and including January 2015.
