IntercontinentalExchange, a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that the ICE Brent Crude futures and RBOB Gasoline futures contracts established daily trading volume records on 5 May.
Volume in Brent Crude futures was 832,412 contracts, up from the previous record of 821,857 contracts, which was set on 24 February. The ICE Brent Crude futures contract has set four daily trading volume records in 2011. Volume in RBOB Gasoline futures was 2,054 contracts. The previous record, 1,264 contracts, was established 3 May.
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. WTI has also established a daily volume record in 2011.