IntercontinentalExchange’s Derivative Volumes Continue Growth Momentum In July

IntercontinentalExchange continued the upward trend in commodity and financial derivative volumes in July. The company saw a 5% y-o-y increase in its commodity volumes, primarily driven by a 10% y-o-y increase in trading volumes of agricultural and metal commodities. Financial derivatives trading volumes (+12% y-o-y) grew on the back of higher equity indices (+18% y-o-y) and interest rate derivatives (+12% y-o-y) volumes. However, the continuous decline in foreign exchange and credit derivatives volumes (-47% y-o-y) partially offset the gain in financial derivative volumes.

Going forward, we expect falling FX and credit derivatives volumes to weigh on the transaction-based revenues. Further, the changing supply and demand expectations with respect to agricultural and metal commodities and uncertainty around oil prices are likely to continue to drive the commodity trading volumes.

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