ICE Announces Record Third Quarter in TTF Natural Gas

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, and home to the broadest range of benchmarks to support the liberalization of natural gas, today announced a record third quarter for TTF with a record 18.7 million TTF futures and options traded, equivalent to 13,598 Terawatt hours.

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Retrieved on: 
Thursday, October 5, 2023
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Tags: 
Technology, Finance, Fintech, Oil, Gas, Professional Services, Energy, Other Natural Resources, Data Management, Natural Resources, Terawatt, TTF, NYSE, ICE, Natural gas, ADV, AECO, Record, Intercontinental, Growth, Intercontinental Exchange, NBP, Auction, S&P Global Commodity Insights, LNG
Geotags: 
EUROPE, UNITED KINGDOM, NETHERLANDS, ASIA
Organisation: 
INTERCONTINENTAL EXCHANGE
Stock Symbol: 
NYSE:ICE
Summary
Key Points: 
  • Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, and home to the broadest range of benchmarks to support the liberalization of natural gas, today announced a record third quarter for TTF with a record 18.7 million TTF futures and options traded, equivalent to 13,598 Terawatt hours.
  • TTF also hit record average daily volume (ADV) during the third quarter of 296,782 across futures and options, with ADV up 101% year-over-year (y/y).
  • “As the global benchmark for natural gas, ICE TTF sends price signals which customers use to manage their natural gas price exposure, as well as pricing the flow of natural gas in Europe and the impact of competition with Asia for LNG,” said Gordon Bennett, Managing Director of Utility Markets at ICE.
  • Open interest across ICE’s global natural gas portfolio, which includes ICE’s Henry Hub, TTF and TTF 1st line, AECO, NBP, and ICE JKM LNG (Platts) markets, is up 13% y/y at 30.2 million contracts.


Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, and home to the broadest range of benchmarks to support the liberalization of natural gas, today announced a record third quarter for TTF with a record 18.7 million TTF futures and options traded, equivalent to 13,598 Terawatt hours.

TTF also hit record average daily volume (ADV) during the third quarter of 296,782 across futures and options, with ADV up 101% year-over-year (y/y).

ICE’s TTF market has grown strongly this year with open interest up 54% y/y at 2.65 million contracts. ICE continues to hit records for market participation in TTF futures and options, with hedging now out to December 2032.

“As the global benchmark for natural gas, ICE TTF sends price signals which customers use to manage their natural gas price exposure, as well as pricing the flow of natural gas in Europe and the impact of competition with Asia for LNG,” said Gordon Bennett, Managing Director of Utility Markets at ICE. “The strong growth in TTF across all liquidity metrics, as well as the increase in the forward curve so that TTF now goes out as far as Henry Hub, shows the success of TTF as a global natural gas market.”

ICE continues to see strong activity in TTF Options where volume is up over 200% y/y with open interest up 77% at 1.17 million.

Open interest across ICE’s global natural gas portfolio, which includes ICE’s Henry Hub, TTF and TTF 1st line, AECO, NBP, and ICE JKM LNG (Platts) markets, is up 13% y/y at 30.2 million contracts. Natural gas is one part of ICE’s extensive commodity markets where open interest is 51.7 million contracts, up 14% y/y.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

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 here. 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, 2022, as filed with the SEC on February 2, 2023.

Category: EXCHANGES

ICE- CORP

Source: Intercontinental Exchange

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