Total market growth at IPE increased by 16 percent over the first quarter of 2001, with significant transaction volume growth occurring in Brent Crude and Gas Oil futures.
"The strong volumes experienced by ICE and IPE indicates the market remains healthy and interested in the platforms offered by IntercontinentalExchange," said Chuck Vice, COO of ICE. "Over the past few months market participants have looked to ICE to maintain a high level of liquidity in the marketplace and we are thrilled to be able to provide liquid and transparent marketplaces for all energy participants."
"March is the third consecutive record month this year," said Stephen Gutteridge, Business Development Director at IPE. "Members and customers continue to appreciate that the IPE offers a regulated market place where they can manage their price risk exposure in volatile market conditions".
The IPE, Europe's leading energy futures and options exchange, recorded the best March in the Exchange's 21-year history. Monthly total market volume for March 2002 rose by 14 percent compared to March 2001. Volumes increased from 2,230,431 lots to 2,548,160 lots.
IPE Brent Crude futures, for March 2002, traded 1,871,025 lots, equivalent to 1.8 billion barrels of crude oil. This compared to 1,593,115 lots traded in March 2001 and represents a rise of 17 percent.
Additionally, Natural Gas futures posted a record day on 26 March 2002 when 10,170 lots traded, of which, 8,730 lots were an Exchange of futures for swaps transaction. The previous record day for Natural Gas futures was August 28, 2001 when 8,435 lots traded.
To date, year over year comparisons by market on IntercontinentalExchange are:
| Market | Volume Q1 2002 | % Increase from Q1 2001 |
| Oil (equivalent barrels) | 610 million | 33% |
| Precious Metals (equivalent gold ozs.) | 39 million | 81% |
| North American Natural Gas (cubic feet) | 31 trillion | 2600% |
| North American Power (megawatt hours) | 1 billion | 813% |
| European Natural Gas (therms) | 7 billion |
N/A |
Year on year comparisons for the International Petroleum
Exchange are:
| Market Volume | Q1 2002 | % Increase from Q1 2001 |
| Brent Crude futures | 5.4 million | 17% |
| Gas Oil futures | 1.9 million | 10% |
| Total Market | 7.5 million | 16% |
About IntercontinentalExchange and IPE
The ICE electronic trading system is used by traders each day of the business week to trade more than 600 listed commodity and derivative contract types around the world. Broadly, these include crude oil and refined products, natural gas, power, precious metals, weather derivatives and emissions allowances. Contract forms include physical delivery as well as financially settled swaps, spreads, differentials and options based on a variety of fixed and floating price indices.
Based in Atlanta, (and with offices in New York, Houston, Chicago, London and Singapore), ICE also owns the International Petroleum Exchange of London (IPE), an energy futures and options exchange.
The IPE provides regulated open outcry and electronic marketplaces where industry participants use futures and options to manage their price risk exposure in the physical energy market. Products traded on the IPE include Brent Crude futures and Options, Gas Oil futures and Options, Natural Gas futures and Electricity (baseload) futures.
For more information about IntercontinentalExchange, please visit the website at www.intcx.com. More information about IPE can be found at www.ipe.uk.com.
