Intercontinental Exchange, Inc. (NYSE: ICE ), a Fortune 500 company and leading global provider of data, technology, and market infrastructure, announced its trading volume and related revenue statistics for August 2023 on Wednesday. The firm reported a notable uptick in its average daily volume (ADV), with an overall increase of 12% year-on-year.
The energy sector played a significant role in this growth, with the ADV for energy up 34% year-on-year and open interest (OI) up 15% year-on-year. This included a record OI of 51.1 million lots on August 24. The oil segment also saw impressive growth, with total oil ADV up by 40% and OI up by 27% compared to the previous year.
Specifically within the oil segment, Brent ADV increased by 29%, while West Texas Intermediate (WTI) ADV surged by 58%. Gasoil ADV rose by 56%, with other crude and refined products seeing an ADV increase of 67%.
The company's natural gas segment also showed substantial growth. Total natural gas ADV was up by 26%, with North American gas ADV increasing by 12%. Meanwhile, Title Transfer Facility (TTF) gas saw a significant rise in ADV by 96%.
In addition to energy commodities, Intercontinental Exchange experienced growth in its agricultural and metals segment as well, with total Ags & Metals ADV up by 14% year-on-year. Specific commodities such as sugar and cocoa saw their ADV increase by 28% and 20% respectively.
The Sterling Overnight Index Average (SONIA) ADV rose by 31% year-on-year, while NYSE Equity Options ADV increased by 8%.
Intercontinental Exchange operates digital networks that connect people to opportunities across major asset classes and provides financial technology and data services that offer access to mission-critical workflow tools. This contributes to increased transparency and operational efficiencies. The company operates exchanges, including the New York Stock Exchange, and clearing houses that assist individuals to invest, raise capital, and manage risk across multiple asset classes.
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