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Foreign Exchange

ICE dollar index hits monthly record

InterContinental Exchange’s benchmark US Dollar Index futures enjoyed a record month of trading during May, with 822,538 contracts changing hands. That is an increase of nearly three quarters on April’s total of 470,221.

Based on Thursday’s closing price for the front month contract, the notional trading value for the index totalled $52.7 billion for May (over 21 trading days).

The bourse’s dollar index, the most popular index of its kind, measures the USD against a basket of the euro, yen, pound, Canadian dollar, Swedish krona and Swiss franc.

Options trading on the index in May totalled 5,848 contracts, the most since the month of the Lehman default, when 9,582 changed hands.

A total of 88,628 currency futures traded on the bourse last month, up 25% month on month and up 10% year on year.

On Wednesday, the bourse announced plans to list 10 new FX futures, eight of them denominated in euros, with a face value identical to euro contracts listed at CME.

ICE has also expanded its exchange-member firm-fee programme for the dollar index to include all FX futures and options contracts, at a rate of $0.30 per side.

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