IntercontinentalExchange (NYSE:ICE) has today announced its trading metrics for August this year, which demonstrate an increase of 25% in exchange-traded FX, with 25,000 contracts traded compared to 20,000 in July.
Despite August’s figures representing an increase over those of July this year, FX trading activity is still a shadow of its former self, being somewhat short of June this year’s average of 32,000 contracts per day. Indeed, this still falls 28% short of last August’s figures, however this is a dynamic which is congruent with many firms across the entire FX industry.
With a 60% increase having been recorded in June this year compared to the average daily volumes traded at IntercontinentalExchange during May, it began to appear that the lows which many firms suffered during the early part of this year were beginning to subside, however July’s metrics put paid to that notion.
IntercontinentalExchange has therefore recouped some lost ground in August, giving rise to a possibility that July’s lows were very temporary indeed as many western market participants continue to show interest in exchange-traded FX with competitors such as NASDAQ OMX exploring the possibility of providing an alternative to the OTC market which is soon to follow North America’s lead in requiring extensive trade reporting and central counterparty infrastructure in the light of a complete overhaul of regulations.
With regard to IntercontinentalExchange’s overall corporate performance, the company will announce third quarter 2014 financial results on Tuesday, November 4, 2014. An earnings press release will be issued prior to the earnings conference call, which will begin at 8:30 a.m. ET.
A live audio webcast of the earnings call will be available on the company’s website www.theice.com in the investor relations and media section. Participants may also listen via telephone by dialing 888-317-6003 from the United States, 866-284-3684 from Canada or 412-317-6061 from outside of the United States and Canada.
For the full report relating to August 2014 trading metrics, click here.