LONDON, Oct. 21, 2011 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today reported record open interest in ICE Brent Futures of 975,335 contracts on 21 October 2011. The new record surpassed the previous ICE Brent Futures open interest record of 968,565 contracts set on 24 January 2011. ICE Futures Europe also set an exchange-wide open interest record of 4,579,786 contracts on 21 October.
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Volume growth in the ICE Brent futures contract has been spurred by the growing demand for risk management in the regulated energy futures markets, coupled with ICE's highly liquid, accessible markets. Because it is seaborne, Brent light sweet crude has become the primary reference point for pricing some 65% of the world's crude oil from the North Sea to the Middle East, Africa and Asia.
Recent announcements by commodity indexes to introduce and increase the weighting of ICE Brent Futures further demonstrates Brent's role as the world's leading crude oil benchmark.
Since its introduction in 1988, the Brent contract has evolved to reflect the changing market fundamentals in the North Sea and the requirements of market participants. Following the change to the assessment of the cash 'BFOE' forward and Dated Brent market from a 21-day to a 25-day basis, ICE Futures Europe announced that it would open a formal consultation period, through to 21 October 2011, in relation to the proposed introduction of ICE Brent New Expiry (NX) Futures and Options.
About IntercontinentalExchange
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries. www.theice.com
The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE Futures Europe and ICE Clear Europe. All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange'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, 2010, as filed with the SEC on February 9, 2011 and ICE's Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, as filed with the SEC on August 3, 2011.
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SOURCE IntercontinentalExchange
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