InterContinental Exchange, the US-based exchange operator, has posted record third quarter earnings of $341m, as global futures markets and clearinghouses benefit from an uptick in hedging activity in volatile markets.

The 19% increase in trading revenues was mainly driven by volume growth in the bourse's oil futures, with many market players using Ice's benchmark Brent crude, gas-oil and carbon emissions futures to hedge against price risk in volatile energy markets. The firm's North American natural gas, power and global oil clearing volumes were also up.