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Intercontinental Exchange has announced record open interest across its total futures markets of 56.8 million on 25 September 2025, with record open interest of 43 million commodity futures and record open interest of 41 million energy futures.
ICE's oil futures markets reached record open interest of 11 million on 26 September 2025, up 20% year-over-year. ICE Brent futures hit record open interest of 3 million on 24 September 2025, up 30% year-over-year. Brent is the price barometer for three quarters of internationally traded crude oil and the largest crude oil futures and options market globally, underpinning a matrix of over 800 oil and refined products.
ICE's natural gas futures markets, which offer benchmarks with trading hubs across the US, Canada, Europe and Asia, hit record open interest of 24.9 million on 25 September 2025, up 13% year-over-year. ICE's European natural gas franchise reached record open interest of over 3 million futures on 26 September 2025, including record open interest in THE (German), PEG (French) and PSV (Italian) natural gas futures.
TTF reached record open interest of 2.6 million contracts on 25 September 2025, up 23% year-over-year. TTF acts as the pricing reference point for these European hubs, similar to the relationship between TTF and JKM for natural gas in Asia. TTF serves as a leading benchmark for global natural gas pricing and influences global LNG contract pricing.
Trabue Bland, SVP of futures markets at ICE
Trabue Bland, SVP of futures markets at ICE, said:
"No matter what part of the energy supply chain our customers are active in, ICE's markets provide deeply liquid price anchors which underpin the pricing for a matrix of thousands of related contracts so customers can trade and manage risk with confidence and transparency from one trusted platform. Liquidity brings critical flexibility and choice to customers as they navigate an increasingly interconnected energy landscape."
Average daily volume across ICE's energy futures and options complex is up 16% year-to-date.
Market participants use TTF's liquidity and price transparency to hedge exposure, manage volatility and optimise gas flows across regions, making TTF a central reference price in the risk management of international gas markets. TTF is used by the market in a similar manner to Brent crude in oil.
Intercontinental Exchange is a technology and data provider that operates digital networks across major asset classes. The company provides financial technology and data services, and operates futures, equity and options exchanges including the New York Stock Exchange and clearing houses. ICE offers markets to trade and clear energy and environmental products, and provides fixed income, data services and execution capabilities.
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