IPE traded a record number of 26.4 million lots (equivalent to over 24 billion barrels of crude) in 2001 representing a 4% increase on the 25 million lots traded in 2000. The underlying value of these trades equated to $674 billion.
IPE Brent Crude futures volumes were 6% higher than in 2000, rising from 17.2 million lots to 18.3 million lots. IPE Gas Oil futures rose by 2% compared to the previous year growing from 7.1 million lots to 7.2 million lots. The Exchange set record volumes in April, June, September and November. Gas Oil futures set a daily record of 60,639 lots on 12 June and Brent Crude futures traded its highest ever daily volume of 145,825 lots equivalent to 145 million barrels of crude, which is twice the level of daily world production.
Electronic trading of IPE contracts also rose during 2001. 700,000 lots were traded compared to 462,208 lots traded in 2000, representing a year-on-year increase of 51%.
Richard Ward, Chief Executive, said, "2001 has been a momentous year for IPE. We set record volumes again for the fourth consecutive year; electronic trading of our contracts has risen by 51% and is growing into an integral part of our business; we have merged with IntercontinentalExchange Inc and together we have embarked upon our vision to offer a broad range of energy risk management products on the same electronic platform".
