Intercontinental Exchange’s Total ADV Climbs by 6% in August

Intercontinental Exchange (ICE), an operator of global exchanges and clearinghouses, recorded a 6% year-on-year (YoY) increase in its total average daily volume (ADV) in August 2022.

The exchange reported the growth in its trading volume statistics for August 2022 published on Tuesday.

During the second quarter (Q2) of the year, ICE’s total ADV shot up 12% on a yearly basis.

Giving a breakdown of the new metrics, ICE said its total natural gas open interest rose 7% in August when compared to the same period in 2021.

Sharing further details, the exchange said its North American natural gas open interest surged 15% year-on-year, adding that while the region’s basis market ADV climbed 26% YoY, the open interest increased 11% YoY.

On the other hand, while ICE's cocoa ADV grew 7% YoY, cotton ADV saw a much bigger improvement, growing by 16% year-on-year.

Furthermore, while open interest for cocoa surged 15% from the same month last year, cotton's open interest increased by 8% year-on-year.

Financials ADV

Meanwhile, ICE noted that its Financials ADV grew by more than half (56%) of what was recorded in the same period in 2021. Open interest in this regard jumped 14% YoY.

The Financials ADV calculation includes ICE’s total interest rate ADV and equity indices ADV, it pointed out.

Under this ADV, the Fortune 500 company said its total interest rate ADV shot up at an even greater pace (62%) on a yearly basis, with open interest rising 18% YoY.

Still, under the total interest rate, ICE disclosed that its ADV for the Euro Interbank Offered Rate (EURIBOR) spiked 15% year-on-year with its open interest closing in with a 75% year-on-year growth.

The EURIBOR measures the rate at which a prime bank is willing to lend Euro-denominated funds to another bank of its category.

Furthermore, ICE said its equity indices ADV went up 25% year-on- year led by the Morgan Stanley Capital International (MSCI) Index whose ADC grew 40% YoY.

Open interest on MSCI Index, which tracks the stock performance of all developed markets across the globe, rose 5% year-on-year on ICE.

On the other hand, the ADV of the Financial Times Stock Exchange Index (FTSE) on ICE climbed 11% YoY. Additionally, ICE said the US cash equities ADV rose 9% YoY.