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ICE Futures Volume and RPC
Monthly volume at ICE Futures in May 2007 totaled 11,840,616 contracts, an increase of 58.9% compared to 7,453,428 contracts in May 2006. ADV of 540,304 contracts for May represented a 59.5% increase over May 2006 ADV of 338,792 contracts.
On May 21, ICE Futures introduced its newest futures product, the ICE Middle East Sour Crude futures contract, which got off to a strong start. ADV was 3,544 contracts in the first nine days of trading through May 31, and on Friday, June 1, 4,278 contracts were traded. The successful launch of the contract places three leading crude oil benchmarks on a single trading platform.
In May 2007, ICE Futures rate per contract (RPC) averaged $1.30, compared to average RPC of $1.30 in April 2007 and RPC of $1.29 in the first quarter of 2007. RPC is calculated by dividing transaction revenues by trading volume, and varies depending upon customer and product mix.
At May 31, 2007, open interest for ICE Futures was 1,717,653 contracts, compared to 1,416,470 contracts at December 31, 2006.
ICE Futures Segment: May Volume by Product
| Contract |
Total Volume
May 2007
|
Total Volume
May 2006
|
Volume
% Change
|
ADV
May 2007
|
ADV
May 2006
|
ADV
% Change
|
| ICE Brent Crude futures |
5,427,417
|
3,531,864
|
53.7
|
246,701
|
160,539
|
53.7
|
| ICE WTI Crude futures |
4,276,518
|
2,481,788
|
72.3
|
194,387
|
112,809
|
72.3
|
| ICE GasOil futures |
1,889,001
|
1,305,528
|
44.7
|
85,864
|
59,342
|
44.7
|
| Other contracts* |
247,680
|
134,248
|
84.5
|
13,352**
|
6,102
|
118.8
|
| Total ICE Futures contract volume |
11,840,616
|
7,453,428
|
58.9
|
540,304
|
338,792
|
59.5
|
* "Other contracts" include ICE Middle East Sour Crude futures; ICE Heating Oil futures; ICE Unleaded Gasoline Blendstock (RBOB) futures; ICE UK Natural Gas futures; ICE-ECX CFI futures; ICE UK Electricity futures; ICE Coal futures; ICE Brent options; ICE WTI options, and ICE Gas Oil options. The ICE-ECX CFI futures contract is the result of a cooperative relationship between ICE Futures and the Chicago Climate Exchange, Inc. and its subsidiary, the European Climate Exchange. ICE Futures shares in the revenue derived from the ECX CFI Futures contract.
**Average daily volume figures are based on 22 trading days during May 2007, except for the new ICE Middle East Sour Crude futures contract introduced on May 21, which traded for nine days in May.
NYBOT Volume and RPC
Total futures and options volume at NYBOT in May 2007 increased 22.7% to 4,304,055 contracts, compared to volume of 3,506,823 contracts in May 2006. ADV at NYBOT also rose 22.7%, to 195,639 contracts per day. In May 2007, electronic ADV in soft commodity futures was 94,692 contracts, representing 71.4% of total soft commodity futures volume that averaged 132,633 contracts per day. NYBOT set open interest records in May in cotton options, sugar and coffee futures and options.
NYBOT set daily electronic trading records on various dates in May. On February 2, NYBOT introduced side-by-side trading in its core soft commodity futures for the first time in its history, offering its electronic markets on the ICE platform. Soft commodities include coffee, cocoa, cotton, orange juice (FCOJ) and sugar contracts. On June 15, NYBOT will launch electronic trading for the U.S. Dollar Index® (USDX) and the Russell 1000® full- and mini-sized indexes.
In April 2007, NYBOT reported an aggregate RPC for NYBOT soft commodity futures and options of $1.72, compared to $1.61 in April 2006. RPC for the first quarter in 2007 was $1.59. RPC for NYBOT is reported one month in arrears.
NYBOT Segment: May Volume by Product
| Contract |
Total
Volume
May 2007
|
Total
Volume
May 2006
|
Volume
% Change
|
ADV
May 2007 |
ADV
May 2006
|
ADV
%
Change
|
ADV
% Electronic
|
| Cocoa futures |
212,318
|
244,032
|
-13.0
|
9,651
|
11,092
|
-13.0
|
77.6
|
| Sugar No. 11 futures |
1,832,384
|
1,158,308
|
58.2
|
83,290
|
52,650
|
58.2
|
79.0
|
| Sugar options |
582,608
|
579,589
|
0.5
|
26,482
|
26,345
|
0.5
|
n/a
|
| Cotton No. 2 futures |
439,838
|
330,785
|
33.0
|
19,993
|
15,036
|
33.0
|
43.9
|
| Coffee "C" futures |
373,291
|
322,933
|
15.6
|
16,968
|
14,679
|
15.6
|
69.3
|
| Coffee "C" options |
266,540
|
229,410
|
16.2
|
12,115
|
10,428
|
16.2
|
n/a
|
| Frozen Conc. Orange Juice (FCOJ) futures |
59,942
|
73,517
|
-18.5
|
2,725
|
3,342
|
-18.5
|
32.9
|
| FCOJ options |
26,520
|
38,318
|
-30.8
|
1,205
|
1,742
|
-30.8
|
n/a
|
| Cross Currency futures |
132,196
|
190,986
|
-30.8
|
6,009
|
8,681
|
-30.8
|
n/a
|
| US Dollar Index futures |
47,255
|
86,555
|
-45.4
|
2,148
|
3,934
|
-45.4
|
n/a
|
| Other contracts* |
331,163
|
252,390
|
31.2
|
15,053
|
11,472
|
31.2
|
n/a
|
| Total NYBOT futures & options** |
4,304,055
|
3,506,823
|
22.7
|
195,639
|
159,401
|
22.7
|
71.4
|
* "Other contracts" are NYBOT's additional markets for food, fiber, foreign exchange and index products.
** ADV % Electronic calculation excludes products that were not available for electronic trading.
OTC Business Segment
In ICE’s OTC business segment, average daily commissions reflect daily trading activity in ICE’s OTC markets. In May 2007, ICE’s average daily commissions increased 21.9% to $711,074 compared to $583,537 in May 2006 as the typically lower volatility Spring shoulder months concluded.
OTC Segment: May Average Daily Commissions
|
May 2007
|
May 2006
|
% Change
|
|
| ICE OTC Average Daily Commissions |
$711,074
|
$583,537
|
21.9
|
Additional May 2007 Highlights and Notes:
- ICE Futures established a new daily volume record on May 9 in ICE Gas Oil futures of 155,757 contracts and a new daily record on May 15 in ICE Brent Crude futures of 387,422 contracts. The ICE Middle East Sour Crude contracts
saw a high of 6,177 contracts traded on May 29 after the May 21 launch. - ICE Futures averaged a 50% market share in global crude futures as measured by volume of light sweet crude oil in the month of May.
- Also in May, the ICE Futures emissions contract, known as ICE ECX CFI futures, achieved record monthly volume of 75,803 contracts and record ADV of 3,446 contracts.
- Electronic trading in soft commodity futures at NYBOT set a new record of 193,695 contracts on Friday, May 25, traditionally a slow trading day before the U.S. Memorial Day holiday. A new record was also established May 25 in
NYBOT Sugar No. 11SM of 164,708 electronically traded futures contracts. - On May 17, ICE announced that the U.K. Financial Services Authority (FSA) issued a recognition order designating NYBOT as a "Recognised Overseas Investment Exchange" (ROIE). The recognition allows NYBOT to expand access to electronic trading in the U.K. and increase the scope of its sales and marketing activities.
- On May 2, ICE announced the appointment of Scott A. Hill as Senior Vice President, Chief Financial Officer. A 16-year international finance executive for IBM, Hill assumed his new role for ICE on May 14.
Historical futures volume and OTC commission data can be found at: www.theice.com/marketdata/recordsAndVolumes/volumes2007.jsp
Volume and open interest information on NYBOT can be found at: https://www.theice.com/nybot_volumes.jhtml
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements in this press release regarding IntercontinentalExchange’s business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the Company’s Securities and Exchange Commission filings, including, but not limited to, the risk factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2006, and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, each as filed with the Securities and Exchange Commission on February 26, 2007 and May 4, 2007, respectively.
