The evolution of natural gas
Markets, Explained
Over the past decade, natural gas has evolved significantly, shifting toward a global market that affects international trade, risk management, and energy competition. But what exactly is liquefied natural gas, and what factors are driving this major transformation?
Key benefits
Deep liquidity
As the global natural gas benchmark in Asia, JKM offers highly liquid futures contracts for managing long-term exposure to natural gas prices.
Global participation
Increasing engagement from U.S. and international market participants highlights JKM’s role in the globalization of natural gas markets.
Effective hedging and volatility management
Market participants use JKM to hedge price exposure, manage volatility, and optimize LNG flows across regions.
Flexibility and expansion
ICE continues to expand JKM-related products and technology, supporting the next wave of global natural gas market development. This flexibility allows them to respond to changing market dynamics, manage risk, and optimize their trading activities.
ICE JKM average daily volume (ADV) and open interest (OI)
The ICE JKM has become a leading benchmark for LNG pricing in Asia, offering insight into market sentiment and trading activity. This view of ADV and open interest highlights how liquidity and participation have evolved in one of the world’s most important energy hubs.
Related insights
Product
JKM product page
The Japan Korea Marker (JKM), the Asian natural gas benchmark, reflects prices for gas delivered to Japan, Korea, China, and Taiwan, providing reliable tools for risk management.
Press release
ICE launches TTF Daily Options
ICE launched TTF Daily Options and achieved record 2025 volumes across TTF futures/options, 103 million contracts, plus over 1 million in TTF 1st Line and JKM.
Video
Quarterly update - Henry Hub futures set OI records
The final week of October saw ICE’s Henry Hub futures break consecutive open interest records, signaling renewed momentum after a slower Q3.
Article
The globalization of natural gas gains momentum
ICE’s TTF plays a central role as a benchmark for EU spot contracts and is being used more frequently for long-term hedging needs, influencing price discovery.
Article
Globalizing natural gas market drives liquidity in LNG futures
The way liquefied natural gas (LNG) is bought and sold is changing. There are more sellers of LNG over a more diverse geography, and the threat of oversupply means that buyers are demanding more flexibility in the tenor of contracts.
Product
JKM product page
The Japan Korea Marker (JKM), the Asian natural gas benchmark, reflects prices for gas delivered to Japan, Korea, China, and Taiwan, providing reliable tools for risk management.
Press release
ICE launches TTF Daily Options
ICE launched TTF Daily Options and achieved record 2025 volumes across TTF futures/options, 103 million contracts, plus over 1 million in TTF 1st Line and JKM.
Video
Quarterly update - Henry Hub futures set OI records
The final week of October saw ICE’s Henry Hub futures break consecutive open interest records, signaling renewed momentum after a slower Q3.
Article
The globalization of natural gas gains momentum
ICE’s TTF plays a central role as a benchmark for EU spot contracts and is being used more frequently for long-term hedging needs, influencing price discovery.
Article
Globalizing natural gas market drives liquidity in LNG futures
The way liquefied natural gas (LNG) is bought and sold is changing. There are more sellers of LNG over a more diverse geography, and the threat of oversupply means that buyers are demanding more flexibility in the tenor of contracts.