Intercontinental Exchange (ICE)'s recently launched WTI crude oil futures contract has continued to build volume as a strong March performance has seen its share of the market with New York Mercantile Exchange (Nymex) rise to a daily high of over 25%.
On the back of that success, ICE has said it will launch more competing contracts in the form of New York gasoline and New York heating oil futures, to commence trading on 17 April. In addition, the exchange said it would enable crack spreads between those contracts and WTI.
The ICE WTI contract, which launched on 3 February, has since averaged around 15% of the total WTI market. However, March saw a significant acceleration with market share averaging almost 20%, or around 66,190 contracts, compared to Nymex's 271,554 average for the month.