LONDON (Commodity Online): IntercontinentalExchange, Inc. (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced new open interest records for ICE Futures Europe. The ICE Gasoil futures contract established a new open interest record of 612,897 contracts on January 27. The ICE Richards Bay Coal futures also established an open interest record of 33,050 contracts on January 27, following record open interest in the ICE Rotterdam Coal futures of 60,242 contracts on January 25. Total open interest across all three ICE coal futures contracts now stands at over 110,000 contracts.
The ICE Gasoil futures contract is the world's largest refined petroleum product futures contract. Introduced in 1981, the ICE Gasoil futures contract has become the underlying pricing reference for refined products around the world. Today, the ICE Gasoil contract offers traders deep liquidity and the versatility provided by a global benchmark.
Earlier, the ICE Brent Crude futures contract established a new open interest record of 817,977 contracts on January 12, settling above 800,000 contracts for the first time. The exchange also established open interest records in the ICE Rotterdam and the globalCOAL ICE Newcastle Coal futures contracts of 55,689 and 16,585 contracts, respectively, on January 12. Total open interest across ICE coal futures is now over 100,000 contracts.
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ICE's North Sea Brent Crude futures contract cash settles based on the ICE Futures Brent Index at expiry. The Brent Index represents the average price of trading in the 21-day BFOE market in the relevant delivery month. A leading global light sweet crude contract, ICE Brent trades alongside the ICE WTI crude futures contract on the ICE platform. Today, ICE Futures Europe conducts half the world's futures trade in crude and refined oil products.
