Oil options power ICE’s global commodity and energy markets to record OI
Intercontinental Exchange (ICE), a global provider of data, technology, and market infrastructure, has announced record open interest (OI) across its global commodity and energy futures and options markets, on the back of record volume in oil options.
On 15 March, 2023, ICE hit record OI of 51.1 million contracts across commodities futures and options, up 10% since the start of the year, as well as record OI in energy futures and options of 47 million. Across ICE’s global oil markets, OI is up 18% since the start of the year at 11.37 million contracts, with OI in Brent futures and options up 28% at 4.98 million contracts.
On 15 March, 2023, a record 567,731 oil option contracts traded on ICE, including a record 513,567 Brent options. Both records were last set three years ago on 9 March, 2020. Brent is used to price an estimated 80% of oil traded on the global market and is the most liquid crude oil futures and options market in the world.
Meanwhile, OI across ICE's global natural gas futures and options portfolio is up 9% since the start of the year at 30.4 million contracts, with OI across North American natural gas futures and options, which includes Henry Hub and US Basis Markets contracts, up 8% at 27.8 million. OI in ICE TTF natural gas futures and options is up 29% since the start of the year at 2 million contracts, with ICE seeing the first trades this week in TTF Calendar Year 2031.
Across ICE’s global environmental complex, which alongside ICE’s energy markets provides price signals and liquidity to help companies transition to alternative forms of energy, OI is up 16% since the start of the year at 1.9 million contracts.