Intercontinental Exchange Reports Weak Metrics for March, FX Volumes ‎Advance MoM

Intercontinental Exchange (NYSE:ICE), a global network of exchanges and clearing houses, has reported its latest aggregated volumes for the month ending March 2018, which were characterized by mixed results across its FX business, according to an ICE statement.

During the reported month, ICE’s March average daily volume (ADV) for futures and options business was reported at 5.9 million contracts per day, which corresponded to a drop of ‎12 ‎percent month-over-month from ‎6.7 million per day in February 2018. In addition, this latest figure marks an 11.3 percent loss over March 2017 which came in at 6.6 million contracts per day.

For the month ending March 2018, ICE saw its energy volume average at 2.6 million contracts per day, which represents a decrease by 15.8 percent month-on-month compared with 3.08 million contracts in February 2018. Across a yearly interval, the latest figure also reported a 4.0 fall from 2.7 million contracts per day in March 2017.

In terms of ICE’s total commodities volume, the figure was weak in its overall performance, amounting to an average of 3.0 million contracts per day in March 2018, down 16.8 percent vs. 3.6 million in the month prior. The group’s commodities activity was also lower by 1.5 percent year-on-year when weighed against 3.05 million contracts reported back in March 2017.

Meanwhile, ICE disclosed mixed metrics across its foreign exchange and credit volumes, which averaged 36,000 contracts per day. The figure reversed the narrative because while the firm posted a 13.0 percent increase month-over-month from just 32,000 contracts the previous month, the exchange registered a 22 percent drop when compared to 46,000 contracts a year ago.

Finally, the overall financial products, which also include interest rates and equity indices, shed by 19 percent year-on-year after revealing 2.9 million contracts per day compared to 3.6 million in March 2017.

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