Intercontinental Exchange Announces Record Trading in TTF Natural Gas and JKM LNG (Platts) Futures Contracts
Intercontinental Exchange (NYSE:ICE), a leading operator of global
exchanges and clearing houses and provider of data and listings
services, today announced record trading in the TTF Natural Gas and JKM
LNG (Platts) futures contracts.
A total of 866 TWh, equating to 1,183,348 lots of TTF futures, traded
during November 2018, an increase of 16% compared to the previous record
of October 2018, where 749 TWh traded (1,029,021 lots). November marks
the third month in a row in which TTF futures achieved monthly volume
records. Open interest in TTF futures hit a record 857,528 lots on
November 29, 2018, a 14% increase on the previous record of 754,669 lots
set on October 26, 2018. ICE reports open interest net in line with
standard industry practice.
The JKM LNG (Platts) futures contract achieved record volume of 20,916
lots in November, an increase of 14% compared to the previous record of
18,367 lots set in May 2018. A new record for open interest in JKM was
reached on December 4, 2018 with 25,035 lots.
As the LNG market liberalises, a global natural gas marketplace is
emerging in which the relationship between Europe and Asia is becoming
integral to price formation for natural gas. In recent months,
Intercontinental Exchange has highlighted the importance of Europe’s
balancing role in LNG markets as the JKM/TTF spread has contracted
while, at the same time, spot shipping rates have increased.
These changing natural gas dynamics are increasing the prevalence of TTF
and JKM LNG (Platts) contracts as global natural gas benchmarks and are
driving their increased use as hedging tools.
About Intercontinental Exchange
Intercontinental
Exchange (NYSE: ICE) is a Fortune 500 and Fortune Future 50 company
formed in the year 2000 to modernize markets. ICE serves customers by
operating the exchanges, clearing
houses and information services they rely upon to invest, trade and
manage risk across global financial and commodity markets. A leader in
market data, ICE Data
Services serves the information and connectivity needs across
virtually all asset classes. As the parent company of the New
York Stock Exchange, the company raises more capital than any other
exchange in the world, driving economic growth and transforming markets.
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 http://www.intercontinentalexchange.com/terms-of-use.
Key Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation can
be accessed on the relevant exchange website under the heading “Key
information Documents (KIDS)”.
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, 2017, as filed with the SEC on February 7, 2018.
ICE-CORP
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Copyright Business Wire 2018
Source: Business Wire
(December 6, 2018 - 6:00 AM EST)
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