ICE’s Energy Derivatives Volumes Continue Sustained Growth In February; Metals And Financials Remain Low
IntercontinentalExchange (NYSE:ICE) saw a dull start to the year in terms of derivative trading volumes. Commodity volumes rose by 2% year-over-year and financial derivatives declined by 13%. However, global economic uncertainty and the oil price rally led to a fairly volatile trading period in February 2016, leading to a surge in trading volumes in the prior year, making it a tough comp for this quarter.
Energy derivatives saw just 3% growth. With not much volatility in oil prices and OPEC’s stance on capping production, trading activity in this asset class has been fairly muted.
Despite the recent hike, interest rate derivative volumes registered an 8% decline in trading volumes. The rate hike in December propelled a surge in interest rate derivative volumes in early 2016, again making it a tough comp. We expect the trading volume to grow with the Fed’s indication of subsequent hikes in the year ahead.
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Metals, despite having shown a slight decline, will likely remain in demand as a safe investment asset.
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