Intercontinental Exchange’s ICE Gilt futures achieved a record daily volume of 1.4 million contracts on 24 May, 2018, an increase of 30 per cent on the previous volume record of 1.1 million contracts set in August 2014.
Open interest for ICE Gilt futures also continues to rise and is 945,870 contracts as at 25 May, 2018.
Daily volume for Gilt futures has risen notably since the start of the year as market participants seek to hedge economic and political risk resulting from central bank monetary policy and Brexit. Average daily volume for ICE Gilt futures is 244,000 contracts year to date, up 18 per cent from the same period in 2017.
The ICE Gilt market provides comprehensive coverage of the UK sovereign curve, including short, medium, long and ultra long contracts, which provide effective tools to manage price risk for UK debt exposure as well as basis trading opportunities across the curve.
Gilt futures and options trade alongside the benchmark Short Sterling and Euribor contracts providing one deep liquidity pool for UK and European interest rates as well as capital efficiencies for market participants through a wide array of margin offsets available at the clearing house.
On 1 June, ICE will add Three Month SONIA futures to its interest rate complex to provide more choice to customers for alternative reference rates.