Intercontinental Exchange, Inc. (ICE), a global leader in technology and data services, has reported record-breaking activity in its natural gas futures and options markets. The company announced a significant increase in open interest (OI) across its global natural gas futures and options, reaching a record of 40.2 million contracts on March 22, 2024, marking a 29% year-over-year increase.
In North America, ICE’s Henry Hub futures and options also experienced a surge in open interest, rising by 33% year-over-year. These markets provide participants with highly liquid contracts to hedge long-term exposure to U.S. natural gas prices. Additionally, ICE’s U.S. financial gas markets reached a record open interest of over 11 million futures and options contracts on April 1, 2024, covering 70 hubs across North America.
The TTF (Title Transfer Facility), the global benchmark for natural gas, also saw a remarkable increase in open interest, reaching 4.3 million across futures and options contracts on March 25, 2024, marking a staggering 90% year-over-year rise. ICE’s TTF markets have been experiencing record open interest, volume, and participation, with further volume highs recorded in Q1 2024.
ICE offers customers highly liquid contracts to manage longer-term exposure to natural gas prices, with liquidity extending out to October 2033 for ICE Henry Hub and December 2032 for TTF.
Furthermore, ICE’s global natural gas options market witnessed record trading volume in Q1 2024, with almost 38 million contracts traded, surpassing the previous record set in Q1 2012. Notably, ICE’s North American natural gas options hit a record volume of 30.6 million contracts during the quarter, with Henry Hub options reaching a record volume of 30.4 million contracts.
The company’s TTF options also performed strongly, achieving record volume and average daily volume in Q1 2024. On March 25, 2024, TTF options hit a record open interest of 2.3 million contracts, marking a remarkable 122% year-over-year increase.
ICE’s diverse portfolio includes the global benchmark TTF, U.S. benchmark Henry Hub, Canadian benchmark AECO, UK benchmark NBP, and ICE JKM LNG (Platts), the benchmark for natural gas in North-East Asia. These offerings contribute to ICE’s status as home to the most liquid global energy markets for trading energy derivatives.
About Intercontinental Exchange:
Intercontinental Exchange, Inc. (ICE) is a Fortune 500 company that designs, builds, and operates digital networks connecting people to opportunity. ICE provides financial technology and data services across major asset classes, helping customers access workflow tools that increase transparency and efficiency. The company’s futures, equity, and options exchanges, including the New York Stock Exchange, and clearing houses facilitate investment, capital raising, and risk management. ICE offers some of the world’s largest markets for trading and clearing energy and environmental products. Additionally, ICE Mortgage Technology transforms U.S. housing finance, streamlining processes from consumer engagement to loan servicing. Through innovation and automation, ICE connects industries and customers to opportunity.
Safe Harbor Statement: This press release contains forward-looking statements regarding ICE’s business. Actual results may differ materially from those expressed in these statements due to various risks and uncertainties. For more information, refer to ICE’s SEC filings.
