ICE announces record 20,124 Murban crude oil futures traded on July 6

The growing volumes and open interest in Murban futures are building the depth of liquidity on ICE Futures Abu Dhabi as the market uses Murban futures to hedge forward price risk. — Reuters file photo
The growing volumes and open interest in Murban futures are building the depth of liquidity on ICE Futures Abu Dhabi as the market uses Murban futures to hedge forward price risk. — Reuters file photo

Abu Dhabi - A total of 503,567 contracts have traded on IFAD since launch, equivalent to 0.5 billion barrels of Murban Crude oil.



By Wam

Published: Mon 12 Jul 2021, 1:48 PM

Intercontinental Exchange, Inc, a leading global provider of data, technology, and market infrastructure, announced that a record 20,124 ICE Murban crude oil futures were traded on ICE Futures Abu Dhabi (IFAD) on July 6, marking its highest volume day since the contracts launched on March 29.

Alongside ICE Murban Crude Oil Futures, IFAD launched trading in 18 Murban-related cash settled derivatives and inter-commodity spreads, offering the market the broadest range of ways to trade and hedge Murban crude oil.

A total of 503,567 contracts have traded on IFAD since launch, equivalent to 0.5 billion barrels of Murban Crude oil.

This includes 495,782 ICE Murban Crude Oil futures contracts and 7,785 Murban-related cash settled derivatives, with 63 rms having traded on IFAD. Open interest on IFAD is 51,068 contracts. Average daily volume in ICE Murban Crude Oil futures since launch is 6,886 contracts.

“The growing volumes and open interest in Murban futures are building the depth of liquidity on ICE Futures Abu Dhabi as the market uses Murban futures to hedge forward price risk and contribute to the price formation process of Murban crude oil,” said Jamal Oulhadj, President of ICE Futures Abu Dhabi.

On June 30, the August Murban futures contract went to expiry with 6,923 contracts going to delivery, a 14 percent increase on the 6,079 contracts that went to expiry the prior month. IFAD has 32 exchange members and 23 clearing members, who are listed in full on IFAD’s membership page. — Wam


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