Side-by-side trading of New York Board of Trade (Nybot) softs contracts on Intercontinental Exchange (ICE)'s online system launched with impressive early volumes. Around 85,000 lots changed hands in its first three days and daily volume doubled on a day-to-day basis.
The physically delivered contracts were launched on ICE's platform on 2 February, trading more than 12,000 contracts on the first day, a figure described as "successful" by many market participants. This figure had doubled to 24,063 total contracts traded the following day, while 48,884 contracts changed hands on 6 February as the complex continued to grow throughout its debut week.
Members of the exchange were also pleased with the early volumes, although many said they had anticipated a strong start.