The Options Insider

ICE March ADV Rose 16 Percent, Quarterly ADV Increased 13 Percent

by | Apr 4, 2014 | Industry

This week the IntercontinentalExchange?Group?(NYSE: ICE) reported March exchange -traded volumes and the first quarter of 2014.

ICE’s?March 2014 first quarter average daily volume (ADV) decreased 16% and 13%, respectively, compared to prior year periods.

Product highlights included the following:

  • Commodity futures and options ADV decreased 15% year to year in March on lower natural gas and Brent volume.
  • First quarter 2014 commodity ADV increased 2% on a 25% increase in sugar volume while energy volume was flat due to lower price volatility in the quarter.
  • Financial futures and options ADV declined 17% in March and 26% in the first quarter of 2014 compared to the prior year, driven by short-term interest rate products due to continued low volatility.
  • March medium & long-term interest rate ADV increased 10% year to year.
  • In March, NYSE?s U.S. cash equities ADV increased 5% and Euronext?s European cash equities ADV increased 13%. U.S. options volume declined 2% year to year.
  • March NYSE ADV equity options was 3,658,000 contracts, down 2% versus March 2013’s 3,750,000 ADV. First quarter ADV fell to 3,874,000 contracts versus March 2013’s 4,231,000 ADV.
  • Total U.S. options ADV was 15,316,000 versus March 2013’s 13,952,000, up 10%.
  • First quarter total options ADV was 16,073,000 versus March 2013’s first quarter figure of 14,981,000, a 7% rise.

Note:??NYSE Equity Options? includes NYSE Amex Options and NYSE Arca Options trading in U.S. equity options contracts.

March 2014 ICE Review

  • Liffe launched the 30-Year Ultra Long Gilt futures contract on?March 31; 2,412 contracts traded on the first day.
  • ICE announced?clearing for?Markit?iTraxx Senior Financials?credit default swap (CDS) index instruments at both of its CDS clearing houses.
  • Monthly total volume and ADV records were established in EU Allowance futures,?UK Natural Gas?futures, Russell 1000 Value Index futures and across several mini MSCI Index futures contracts.
  • A daily volume record of 862,468 contracts was set on?March 18?in FTSE 100 Index futures.
  • Open interest records were established in Low Sulphur Gasoil futures, Sugar 16 futures, futures on the DTCC GCF Repo indices and across several mini MSCI Index futures contracts and?UK Natural Gas, Newcastle Coal, Richards Bay Coal and Rotterdam Coal options contracts.