ICE Reports Record Commodities Trading Day Amid Market Volatility

Intercontinental Exchange (ICE) recorded its highest-ever commodities trading volume on 10 January, with 9.1 million futures and options contracts changing hands in a single day.

The record-breaking session saw 8.7 million energy contracts traded, of which 6.1 million were oil futures and options. Several key oil benchmarks reached new volume highs, including 999,000 Gasoil futures and options contracts, 905,700 West Texas Intermediate (WTI) contracts, 214,200 Dubai futures and 104,400 Murban futures contracts.

"The network of markets which ICE has carefully built for its customers over the last two decades has created a truly global commodity platform so that customers can manage their risk exposure at precisely the areas they need, benefitting from the liquidity we offer, to enable transparent price discovery and execution," said Trabue Bland, SVP of Futures Markets at ICE.

The exchange operator, which provides trading infrastructure and data services across global markets, has seen growing activity across its commodities business. Open interest - a measure of outstanding contracts - has risen 11% year-over-year to 63.2 million contracts, while average daily trading volumes are up 26% year-to-date.

ICE's commodities division offers over 800 futures and options contracts linked to global oil benchmarks Brent and Gasoil. The record volumes come amid heightened market uncertainty and volatility in global energy markets.

The New York Stock Exchange-listed company operates major derivatives exchanges in London, New York and Amsterdam, alongside data and technology services for financial markets.