ICE reports record open interest in euro rate futures

Intercontinental Exchange Inc. (NYSE:ICE) announced record open interest in its interest rate futures markets on September 2, reaching 14.5 million contracts. The Euribor futures market saw 5.8 million contracts, marking a 16% increase year-over-year, while the €STR futures market reached 3.3 million contracts, a 109% year-over-year surge.

Overall, total open interest in ICE's interest rate futures markets climbed 25% compared to the previous year. Financial futures at ICE hit a record 16.9 million contracts on the same day, up 21% year-over-year. Caterina Caramaschi, vice president of financial derivatives at ICE, attributed the growth to customer confidence and liquidity in ICE's European rates markets.

Euribor, a benchmark for short-term euro-related interest rate risk, and €STR, representing wholesale euro unsecured overnight borrowing costs, saw significant interest. ICE's U.K. rates markets also grew, with SONIA futures and options up 68% year-over-year and Gilts futures and options up 4% year-over-year. ICE's rates contracts are available in various international markets, including Australia, Japan, Sweden, Norway, and Switzerland.

The company operates futures, equity, and options exchanges, such as the New York Stock Exchange, and provides financial technology and data services for major asset classes.