Average Daily FX Volumes on ICE Rise Sharply by 60% to 32,000 Contracts

The Intercontinental Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (ICE) has issued a company statement outlining the volumes numbers it has registered during the month of June. Similarly to the CME group, we have seen the number of FX contracts traded on the exchange rising, however ICE's numbers were even more vigorous, rising by 60% during the month of June when compared to May's trading figures, marking 32,000 contracts traded.

While the number remains lower from a year ago by 47%, there are glimmers of hope out there on the institutional front. That said, we have to include special factors, such as the British pound record FX trading volumes, provided by the CME Group after Mark Carney stated that the Bank of England is likely to be the first major central bank to raise interest rates. This factor could well be playing a role in ICE's numbers, with the market pricing in a scenario where the Bank of England will raise interest rates in November this year and the British pound rallying to levels unseen since October 2008.