Printer Friendly

ICE declares record daily volume in Low Sulphur Gasoil contract by ICE Futures Europe.

M2 EQUITYBITES-November 3, 2016-ICE declares record daily volume in Low Sulphur Gasoil contract by ICE Futures Europe

(C)2016 M2 COMMUNICATIONS http://www.m2.com

Intercontinental Exchange (ICE) (NYSE:ICE) on Thursday revealed the achievement of a daily volume record of 766,054 contracts on ICE Futures Europe's Low Sulphur Gasoil contract on 1 November 2016.

Also, the company said that volume in ICE Low Sulphur Gasoil-related contracts, such as the ICE Low Sulphur Gasoil/Brent Futures Crack and the ICE Heating Oil/Low Sulphur Gasoil Futures Spread also achieved daily records of 57,890 contracts and 10,164 contracts, respectively. This strong growth was driven by rising hedging demand from European refineries to meet winter diesel specifications and increasing hedging activity in cross-Atlantic diesel arbitrage flows.

Further, the ICE Low Sulphur Gasoil futures contract is based on a 0.001% sulphur (10 ppm) diesel barge specification, representting the European middle distillate market that in recent years has moved towards a low sulphur grade. In May 2014 the transition from 0.1% to 0.001% in sulphur diesel contract was successful and ICE Low Sulphur Gasoil created many open interest records as well, the company stated. Open interest was 936,032 lots on 31 October 2016.

ICE is an operator of global exchanges and clearing houses and provider of data and listings services across financial and commodity markets. The New York Stock Exchange leads in capital raising, listings and equities trading. Its trademarks and/or its affiliates' trademarks include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2016 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Nov 3, 2016
Words:272
Previous Article:Pfizer passes CFDA's approval for Prevenar 13 for use in infants and children in China for prevention of pneumococcal disease.
Next Article:Pacific City Financial announces dividend of USD0.03 per share.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters