ICE Reports Record Quarterly Trading Volume in First Quarter of 2025

Intercontinental Exchange (NYSE) has announced record trading volumes for the first quarter of 2025, marking the highest traded volume quarter in the company's 25-year history, according to figures released today.

The global technology and data provider reported significant year-on-year growth across its major trading categories, with total average daily volume (ADV) increasing by 31% in March compared to the same period last year. Open interest (OI) rose 11% year-on-year, reaching a record 103.4 million lots on March 13.

"Twenty-five years ago, ICE began building a derivatives platform to serve customers' evolving risk management needs, and today, we are the home to benchmarks such as Brent, TTF and Euribor, used by customers across the world to address their hedging needs," said Ben Jackson, President of ICE. "The support from our customers has created the depth of liquidity that our markets offer, and we thank them for making the first quarter of 2025 the highest traded volume quarter in ICE's history."

Energy trading showed robust performance with ADV up 24% year-on-year in March, while open interest increased 11%, culminating in a record OI of 67.6 million lots on March 25. Within the energy segment, oil trading saw ADV rise 7% year-on-year, with Brent crude up 4% and WTI up 12%. Notably, Midland WTI recorded exceptional growth with ADV surging 184% compared to March 2024.

Natural gas trading volumes were particularly strong with ADV up 54% year-on-year. North American gas led this growth with a 64% increase, while European TTF gas rose 32% and Asian gas increased 6%.

The financial markets category set records as well, with ADV up 47% year-on-year in March. Interest rates trading volume increased 55%, driven largely by Euribor trading which jumped 64%. SONIA (Sterling Overnight Index Average) volumes were up 34% with record open interest of 9.8 million lots recorded on March 13.