ICE reports over 190M contracts of interest rate derivatives traded in Q3

Earlier on Wednesday, Intercontinental Exchange or ICE, announced record activity across its interest rate derivatives markets with over 190M contracts traded in Q3, surpassing the previous record set in Q1 2020. ICE’s interest rate markets also hit record average daily volume or ADV, during the quarter with 2.9M contracts traded, up 39% year-to-date YTD . In the past quarter, a record 118M Euribor futures and options traded, exceeding the last high set in 2013. Euribor is the benchmark for managing short term euro-related interest rate risk. ICE Euribor futures and options ADV is up 28% this year. During September 2024, ADV across the interest rates complex exceeded 3.4M contracts, surpassing the previous monthly record set in May 2010. Meanwhile, SONIA futures, the benchmark for managing U.K. interest rate risk, traded a record 14 million contracts during the month, with ADV up 59% YTD and open interest up 65% year-over-year y/y. “The record trading activity reflects customers utilizing ICE as the only exchange globally to offer a diverse and deeply liquid derivatives complex across European rates,” said Caterina Caramaschi, Vice President, Financial Derivatives at ICE. “As participants manage changing interest rate policy and exposure between central bank meeting dates, we are seeing heightened trading activity which is fueling liquidity.”