LONDON–( BUSINESS WIRE )–Intercontinental Exchange, Inc., a leading global technology and information provider. (NYSE:ICE), today announced that ICE’s Euro Short Rate (€STR) futures have open interest of more than 500,000 contracts. September 11, 2024.
ICE’s €STR futures and options are clear alongside 16.2m open interest in Euribor, the benchmark for managing short-term euro-related interest rate risk. Open interest across ICE’s interest rate complex grew 14% year-on-year (y/y) to more than 25 million contracts.
At the same time, average daily volume (ADV) across the fixed income portfolio increased by 55% year-on-year to the end of August 2024, including Euribor ADV by 50%, SONIA ADV by 56% and Gilts ADV by 48%.
The health of our €STR market is driven by end-user demand benefiting from the deeper liquidity available at ICE, said Caterina Caramaschi, Vice President of Financial Derivatives at ICE. We would like to thank all our market participants for their continued support in developing our €STR futures and we are excited to see the first €STR options trade.
As the only exchange globally to offer liquid multi-currency short-term interest rate products, we are committed to franchise ICE to provide more tools to manage interest rate risk as the market continues to evolve, Caramaschi continued.
By trading and clearing €STR on ICE, clients can benefit from margin offsets of up to 90% against Euribor. Euribor is the euro-dominant key interest rate benchmark, based on the average rate at which Eurozone banks offer unsecured short-term loans to each other, while €STR reflects eurozone banks’ wholesale unsecured overnight borrowing costs in euros.
Clients use inter-contract spread ICE offers to trade the difference between Euribor and €STR, which is designed so that market participants have the same flexibility and liquidity to enter and exit the contract as in OTC markets.
It hosts multi-currency interest rate derivatives including ICE, Euribor, SONIA the UK benchmark, SARON the Swiss benchmark and Gilts the benchmark for the UK government bond yield curve. On September 11, 2024, SONIA futures hit a record open interest of 2.4 million contracts.
Intercontinental Exchange (NYSE:)
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes that help our clients access critical workflow tools that increase transparency and efficiency. ICE futures, equity and options exchange including ” New York Stock Exchange ” and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest marketplaces for trading and cleaning energy and environmental products. Our fixed income, information services and execution capabilities provide data, analytics and platforms that help our customers streamline processes and capitalize on opportunities. Horse ICE Mortgage Technologywe are transforming US housing finance, from initial consumer engagement through loan origination, closing, underwriting and long-term servicing relationships. Together, ICE is transforming, simplifying and automating industries to connect our customers with opportunities.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Intercontinental Exchange, Inc. and/or its affiliates information regarding additional trademarks and intellectual property rights is located here. here. Key Information Documents for certain products covered by the EU Retail Packaged and Insurance-Based Investment Products Regulation can be accessed on the relevant exchange’s 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 that are not historical facts regarding ICE’s business are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties that could cause actual results to differ from those in forward-looking statements, see ICE’s filings with the Securities and Exchange Commission (SEC), including, but not limited to, risk factors in ICE’s Annual Report. Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.
Category: BATTLES
ICE-CORP
Source: Intercontinental Exchange
See the source version at businesswire.com: https://www.businesswire.com/news/home/20240912306569/en/
ICE Media:
Jess Tatham
jess.tatham@ice.com
+44 7377 947136
ICE Investor:
Katia Gonzalez
katia.gonzalez@ice.com
(678) 981-3882
Source: Intercontinental Exchange
