ICE reaches record 128 million contract open interest

Intercontinental Exchange Inc. (NYSE: ICE) reported record open interest of 128 million contracts across its total futures and options markets on May 14, representing a 24% increase year-over-year, according to a company statement.

The financial derivatives complex reached record open interest of 54 million contracts, up 54% year-over-year. Interest rate futures and options exceeded 50 million contracts in open interest, marking a 60% year-over-year increase.

ICE SONIA futures and options, used for managing U.K. interest rate risk, achieved record open interest of 19.6 million contracts, up 104% year-over-year. ICE Euribor futures and options open interest increased 37% year-over-year to 26 million contracts, while ICE €STR reached a record 2.9 million contracts.

The company has expanded its interest rate futures offering to include Japanese Yen TONA, Swedish Krona STIBOR, Norwegian Krone NOWA, and South African Rand ZARONIA contracts.

ICE plans to launch additional short-term interest rate futures on June 22, covering Swedish Krona SWESTR and Australian Dollar BBSW. The company also intends to expand its central bank futures to include Bank of Japan Dated TONA, Riksbank Dated SWESTR and Norges Bank Dated NOWA contracts, subject to regulatory review.

Average daily volumes across ICE's financial derivatives and interest rate markets increased 46% and 51% respectively year-to-date.

"As market shifts impact inflation expectations, demand for interest rate risk transfer has accelerated," said Caterina Caramaschi, Vice President of Financial Derivatives at ICE.

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