The volume for the January futures contract for Brent crude futures , symbol EBFO, from DTN for Monday, November 16 was 62,159 contracts. The ICE website shows total volume of 252,863 for the monthly Brent crude for the same day. I am trying to understand the reason(s) for the large difference So far, I have not been able to get an answer from anyone at ICE. There are contracts for other months but, the volumes for months other than January, are very small. Part of the difference in volumes may also be due to block sales that do not show on the charts. I would appreciate any help in trying to understand why the chart volume is so small in relation to the total volume.
Other months and exchange-supported calendar spread products including January are part of the total volume. Also, block trades (financially-cleared OTC) are probably not in that figure since they go through LCH.