FX Volumes Drop 30pct at Intercontinental Exchange in October 2020

Atlanta-headquartered futures exchange Intercontinental Exchange, which also operates clearing houses and serves OTC markets, on Wednesday disclosed weak metrics across its FX and credit volumes for October, which averaged 35,000 contracts per day.

The figure reflected a 30 percent drop month-over-month from 50,000 contracts in September 2020. However, the exchange operator registered a stronger advance in volumes when compared to the number of contracts in October 2019, having jumped by over one third year-on-year from 27,000.

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The overall financial products, which also include interest rates and equity indices, dropped 18 percent year-on-year after revealing 1.85 million contracts per day compared to 2.27 million in October 2019. In addition, the figure also dropped by -34 percent over a monthly basis.

Turnover from ICE’s flagship energy contracts dropped further off record highs in October, according to data released today, as the volatility eased.

For the month ending October 2020, the owner of the New York Stock Exchange saw its energy volume average 2.69 million contracts per day, which represents a fall of -2 percent month-on-month compared with 2.83 million contracts in September 2020. Across a yearly interval, the latest figures showed a five percent drop from 2.74 million contracts per day in October 2019.

Rivals data shows strength in volumes

Overall, ICE’s aggregated volumes were, however, characterized by mixed results across both the monthly and yearly intervals, while volumes were broadly flat in October across most business segments.

During the reported month, ICE’s October average daily volume (ADV) for futures and options business was reported at 4.91 million contracts per day, which corresponded to a change of -19 percent month-over-month from 2.8 million per day in September 2020. In addition, this latest figure marks a nine percent drop over October 2019 which came at 5.39 million contracts per day.

In terms of ICE’s total commodities volume, the figure was downbeat in its overall performance, amounting to average 3.06 million contracts per day in October 2020, down seven percent vs. 3.2 million the month prior. The group’s commodities activity was slightly skewed to downside year-on-year when weighed against 3.11 million contracts reported back in October 2019.

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