ATLANTA--(BUSINESS WIRE)--Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today reported monthly exchange traded volumes.
In November, futures and options average daily volume (ADV) declined 14% and cash equities ADV increased 9% over the prior November.
- Commodity ADV increased 12%, with energy ADV up 13% driven by Natural Gas, Brent, Other Oil and Gasoil ADV, up 19%, 10%, 19% and 4%, respectively, from the prior year period.
- Financials ADV declined 38% from the prior November due to continued low volatility in Continental European short-term interest rates.
- NYSE’s U.S. cash equities ADV increased 9% while U.S. equity options ADV decreased 19% over the prior November.
- U.S. cash equities market share was 23.7% and U.S. options market share was 21.3% for the month.
ICE Futures & Options ADV (contracts in 000s) |
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ADV Nov | ADV Nov | Change | ADV YTD | ADV YTD | Change | |||||||||||||
2014 | 2013 | y/y | Nov ‘14 | Nov ‘13 | y/y | |||||||||||||
COMMODITIES | ||||||||||||||||||
Energy | ||||||||||||||||||
Brent | 772 | 702 | 10% | 691 | 685 | 1% | ||||||||||||
Gasoil | 234 | 226 | 4% | 216 | 265 | -18% | ||||||||||||
Other Oil (1) | 307 | 259 | 19% | 273 | 258 | 6% | ||||||||||||
TOTAL OIL | 1,313 | 1,186 | 11% | 1,180 | 1,209 | -2% | ||||||||||||
Natural Gas (2) | 1,308 | 1,099 | 19% | 930 | 1,177 | -21% | ||||||||||||
Power (3) | 105 | 114 | -7% | 111 | 128 | -13% | ||||||||||||
Emissions & Other (4) | 45 | 45 | 1% | 41 | 42 | -2% | ||||||||||||
TOTAL ENERGY | 2,771 | 2,444 | 13% | 2,262 | 2,555 | -11% | ||||||||||||
Agricultural | ||||||||||||||||||
Sugar (5) | 104 | 105 | -1% | 151 | 151 | 0% | ||||||||||||
Other Ags & Metals (6) | 171 | 175 | -3% | 177 | 177 | 0% | ||||||||||||
TOTAL AGRICULTURAL & METALS | 274 | 280 | -2% | 328 | 328 | 0% | ||||||||||||
TOTAL COMMODITIES | 3,046 | 2,724 | 12% | 2,590 | 2,883 | -10% | ||||||||||||
FINANCIALS | ||||||||||||||||||
Interest Rates | ||||||||||||||||||
Short-term Interest Rates (7) | 871 | 1,900 | -54% | 1,496 | 2,134 | -30% | ||||||||||||
Medium & Long-term Interest Rates (8) | 219 | 201 | 9% | 181 | 177 | 2% | ||||||||||||
TOTAL INTEREST RATES | 1,090 | 2,101 | -48% | 1,677 | 2,311 | -27% | ||||||||||||
TOTAL EQUITY DERIVATIVES (9) | 595 | 677 | -12% | 905 | 948 | -4% | ||||||||||||
TOTAL FX (10) | 42 | 24 | 74% | 30 | 37 | -18% | ||||||||||||
TOTAL FINANCIALS | 1,727 | 2,803 | -38% | 2,613 | 3,295 | -21% | ||||||||||||
TOTAL FUTURES & OPTIONS | 4,772 | 5,526 | -14% | 5,203 | 6,179 | -16% | ||||||||||||
Note: Figures may not foot due to rounding. |
(1) | “Other Oil” includes futurized oil, WTI, Heating Oil, RBOB Gasoline and Middle East Sour Crude. Excludes Daily Brent Bullet contracts. | |
(2) | “Natural Gas” includes North American, UK and European Natural Gas. | |
(3) | “Power” includes North American, UK and European Power. | |
(4) | “Emissions & Other” includes all emissions contracts, freight, coal, iron ore and uranium. | |
(5) | “Sugar” includes Sugar No. 11, Sugar No. 16 and White Sugar. | |
(6) | “Other Ags & Metals” includes Cocoa ($), Cocoa (£), Coffee “C”, Robusta Coffee, Cotton No. 2, Orange Juice, Corn, Feed Wheat, Soybeans, Barley, Canola, Mini Gold and Mini Silver contracts. | |
(7) | “Short-term Interest Rates” includes Euribor, Sterling, Swiss, Eonia, Eurodollar, Short Gilt, European Government Bonds and DTCC GCF Repo Index® contracts. | |
(8) | “Medium & Long-Term Rates” includes Gilt, Swapnotes, Japanese Government Bonds, European Government Bonds, Treasuries and U.S. Government Bonds and Ultrabond contracts. | |
(9) | “TOTAL EQUITY DERIVATIVES” includes FTSE 100®, FTSE 100 Dividend®, price return and net total return versions of MSCI EAFE®, MSCI Emerging Markets®, MSCI Europe®, and MSCI World®, Russell 2000®, Russell 1000® and Single Stock Equities which includes equities domiciled in 25 countries that trade in the UK. | |
(10) | “TOTAL FX” includes futures and options for the U.S. Dollar Index and foreign exchange. | |
Financial and Reporting Update
- For all quarters of 2014, adjusted earnings per share (EPS), which excludes amortization of acquisition-related intangibles, should be used when calculating full year EPS. These figures, as well as comparable quarterly adjusted EPS for 2013, can be found in the updated 3Q14 Income Statement Summary on the Quarterly Results page.
- Following the October 8 closing of ICE’s acquisition of SuperDerivatives, beginning in the fourth quarter of 2014, the majority of SuperDerivatives forecasted quarterly revenue of $15-16 million will be included in market data revenues.
ICE Futures & Options Rolling Three-Month Average Rate per Contract (RPC) |
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Three Months | Three Months | Three Months | |||||||
Futures & Options | Ending | Ending | Ending | ||||||
Products | Nov 2014 | Oct 2014 | Sep 2014 | ||||||
Energy | $1.30 | $1.33 | $1.35 | ||||||
Agricultural & Metals | $2.41 | $2.48 | $2.52 | ||||||
Total Commodities | $1.42 | $1.47 | $1.49 | ||||||
Interest Rates | $0.66 | $0.66 | $0.67 | ||||||
Total Financials | $0.68 | $0.64 | $0.62 |
RPC is calculated by dividing transaction revenues by contract volume, and may vary based on pricing, customer and product mix. RPC is subject to revision based on final numbers.
ICE Futures & Options Open Interest (contracts in 000s) |
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Nov 28, 2014 | Dec 31, 2013 | |||||
Energy | 39,630 | 41,470 | ||||
Agricultural & Metals | 3,261 | 3,372 | ||||
Total Commodities | 42,891 | 44,842 | ||||
Interest Rates | 17,741 | 18,101 | ||||
Total Financials | 36,070 | 30,385 | ||||
ICE Futures & Options Monthly and YTD Volume (contracts in 000s) |
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Vol % | YTD | YTD | Vol % | |||||||||||||||
Futures & Options Products | Nov-14 | Nov-13 | Change | Nov ‘14 | Nov ‘13 | Change | ||||||||||||
Commodities | 57,869 | 54,517 | 6% | 595,719 | 666,250 | -11% | ||||||||||||
Financials | 34,200 | 58,704 | -42% | 611,841 | 776,732 | -21% | ||||||||||||
TOTAL CONTRACTS | 92,069 | 113,221 | -19% | 1,207,559 | 1,442,982 | -16% | ||||||||||||
U.S. Equity Options (contracts in 000s) |
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ADV Nov | ADV Nov | Change | ADV YTD | ADV YTD | Change | |||||||||||||
2014 | 2013 | y/y | Nov ‘14 | Nov ‘13 | y/y | |||||||||||||
NYSE Equity Options(1) | 3,033 | 3,749 | -19% | 3,614 | 4,000 | -10% | ||||||||||||
Total U.S. Options Volume | 14,209 | 14,394 | -1% | 15,335 | 14,874 | 3% | ||||||||||||
NYSE Share of Group Total | 21.3% | 26.0% | -4.7pts | 23.6% | 26.9% | -3.3pts |
(1) “NYSE Equity Options” includes NYSE Amex Options and NYSE Arca Options trading in U.S. equity options contracts.
U.S. Equity Options Rolling Three-Month Average Rate per Contract (RPC) |
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Three Months | Three Months | Three Months | |||||||
Ending | Ending | Ending | |||||||
Nov 2014 | Oct 2014 | Sep 2014 | |||||||
US Equity Options | $0.16 | $0.16 | $0.16 | ||||||
U.S. Cash Products (shares in millions) |
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ADV Nov | ADV Nov | Change | ADV YTD | ADV YTD | Change | |||||||||||||
2014 | 2013 | y/y | Nov ‘14 | Nov ‘13 | y/y | |||||||||||||
NYSE Listed (Tape A) Issues | ||||||||||||||||||
Handled Volume (1) | 1,061 | 980 | 8% | 1,048 | 1,076 | -3% | ||||||||||||
Matched Volume(2) | 1,039 | 948 | 10% | 1,025 | 1,038 | -1% | ||||||||||||
Total NYSE Listed Consolidated Volume | 3,374 | 3,210 | 5% | 3,360 | 3,415 | -2% | ||||||||||||
Share of Total Matched Consolidated Volume | 30.8% | 29.5% | 1.3pts | 30.5% | 30.4% | 0.1pts | ||||||||||||
NYSE Arca, MKT and Regional (Tape B) Listed Issues | ||||||||||||||||||
Handled Volume (1) | 272 | 220 | 24% | 253 | 248 | 2% | ||||||||||||
Matched Volume(2) | 259 | 205 | 27% | 239 | 229 | 5% | ||||||||||||
Total NYSE Arca and MKT Listed Consolidated Volume | 1,078 | 916 | 18% | 1,073 | 1,073 | 0% | ||||||||||||
Share of Total Matched Consolidated Volume | 24.1% | 22.3% | 1.8pts | 22.3% | 21.3% | 1.0pts | ||||||||||||
Nasdaq Listed (Tape C) Issues | ||||||||||||||||||
Handled Volume (1) | 181 | 185 | -2% | 203 | 185 | 10% | ||||||||||||
Matched Volume(2) | 169 | 165 | 2% | 188 | 165 | 14% | ||||||||||||
Total Nasdaq Listed Consolidated Volume | 1,738 | 1,790 | -3% | 1,967 | 1,761 | 12% | ||||||||||||
Share of Total Matched Consolidated Volume | 9.7% | 9.2% | 0.5pts | 9.5% | 9.4% | 0.1pts | ||||||||||||
TOTAL U.S. Cash Market Share Matched | 23.7% | 22.3% | 1.4pts | 22.7% | 22.9% | -0.2pts | ||||||||||||
TOTAL ADV U.S. Cash Shares Handled | 1,514 | 1,385 | 9% | 1,504 | 1,509 | 0% |
(1) | “Handled Volume” represents the total number of shares of equity securities, exchange traded funds (ETFs) and crossing session activity internally matched on NYSE Group’s exchanges or routed to and executed on an external market center. | |
(2) | “Matched Volume” represents the total number of shares of equity securities, ETFs and crossing session activity executed on NYSE Group’s exchanges | |
U.S. Cash Rolling Three-Month Revenue Capture (per 100 shares) |
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Three Months | Three Months | Three Months | |||||||
Ending | Ending | Ending | |||||||
Nov 2014 | Oct 2014 | Sep 2014 | |||||||
U.S. Cash Products | $0.050 | $0.049 | $0.050 | ||||||
Credit Default Swaps (CDS) Transaction and Clearing
- Through November 28, ICE has cleared $60 trillion in gross notional value of CDS on a cumulative basis across 2.1 million trades with open interest of $1.6 trillion. Buy-side clearing of CDS totaled $10 trillion since the launch of client clearing at ICE Clear Credit in December of 2009. ICE lists over 500 CDS instruments for clearing. A complete summary of CDS clearing can be found at: https://www.theice.com/clear-credit
November 2014 Review
- Daily volume records were established in Low Sulphur Gasoil futures, TTF Natural Gas and Dutch Power futures, Heating Oil futures and Russell 2000 Growth futures contracts.
- A total monthly volume record was set in the Russell 2000 Growth futures contract.
- Open interest records were established in Brent, Gasoil, Rotterdam Coal, Richards Bay Coal, Newcastle Coal and Cocoa options contracts and in the Russell 2000 Growth futures contract.
- On November 17, ICE completed the Liffe transition to ICE Futures Europe.
- ICE announced the expected March 2015 launch of ICE Futures Singapore and ICE Clear Singapore, subject to regulatory approval.
- ICE Endex introduced Belgian ZTP natural gas futures, further extending ICE’s European natural gas products.
- ICE Benchmark Administration was named the new administrator of LBMA Gold price, a widely used international pricing medium used by producers, consumers, investors and central banks.
- ICE Futures Europe announced that it launched two gasoline contracts on December 1.
Trading days in November 2014:
- Interest Rates, Single Stock Equity Derivatives: 20
- Commodities, Other Financials: 19
- US Cash Equities, US Equity Options: 19
ICE closed the acquisition of NYSE on November 13, 2013. For comparison purposes NYSE volumes are included for all periods covered.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange and ICE Futures.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at www.intercontinentalexchange.com/terms-of-use.
Russell® and the Russell indexes are trademarks and service marks of the Russell Investment Group and are used under license. FTSE® and the FTSE indexes are trademarks and service marks of the London Stock Exchange plc and Financial Times Limited and are used under license. MSCI® and the MSCI indexes are trademarks and service marks of MSCI Inc. or its affiliates and are used under license.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the SEC on February 14, 2014.
SOURCE: Intercontinental Exchange
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