The third quarter was another record for trading of the Dutch Title Transfer Facility (TTF) benchmark contract, according to Intercontinental Exchange Inc. (ICE), as the European natural gas market continues to grapple with supply uncertainties and participants are increasingly trying to manage price exposure.  

Dutch Title Transfer Facility

ICE said 18.7 million TTF futures and options were traded during the third quarter. The contract also hit record average daily volume (ADV) of 296,782 across futures and options, with ADV up 101% year-over-year. 

The exchange also said that open interest, or the number of outstanding derivative contracts that serves as an indication of trading activity, is up 54% this year to 2.65 million.

ICE has repeatedly touted record TTF volumes over the last two years as the...