LONDON, February 25, 2011 /PRNewswire/ -- IntercontinentalExchange, a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that ICE Futures Europe set an exchange-wide daily volume record of 1,698,258 contracts on 24 February, surpassing the previous record of 1,626,277 set on 23 February. New daily volume records for the benchmark ICE Brent Crude futures contract and the ICE Gasoil futures contract were also set on 24 February.
Volume in Brent Crude futures was 821,857 contracts, up from the previous record of 805,232 contracts which was set on 23 February. Volume in Gasoil futures was 445,325 contracts, up from the previous record of 391,046 contracts which was set on 10 November 2010.
Introduced in 1988, the ICE Brent Crude futures contract is the leading benchmark for pricing the world's crude oil, including grades in Africa, the Middle East and Asia. ICE Futures Europe has also listed the North American benchmark West Texas Intermediate (WTI) crude futures contract since 2006. Both light sweet crude contracts have established daily volume records in 2011.
The ICE Gasoil futures contract is the world's largest refined petroleum product futures contract. Introduced in 1981, the ICE Gasoil futures contract has become the underlying pricing reference for refined products around the world. Today, the ICE Gasoil contract offers traders deep liquidity and the versatility of a global benchmark.