ICE Reports Record First Quarter Futures Volume, ADV And OTC Commissions; $7 Trillion Cleared In CDS

IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today reported record futures volume and average daily volume (ADV) for the first quarter of 2010. Futures ADV increased 28% in the first quarter of 2010, including year-over-year growth of 24% for the month of March 2010. ICE also achieved record average daily commissions (ADC) of $1.37 million in its OTC energy business during the first quarter of 2010, an increase of 27% from the prior first quarter.

Global Futures Exchanges

ICE operates three regulated futures exchanges: ICE Futures Europe, ICE Futures U.S. and ICE Futures Canada.

March 2010 volume across all three ICE futures exchanges increased 30% from March 2009, to a record 29,594,776 contracts, with ICE Futures Europe and ICE Futures U.S. establishing monthly volume records of 19,311,987 and 9,994,181 contracts, respectively. ADV at ICE Futures Europe increased 34% to 839,652 contracts. ADV at ICE Futures U.S. was 434,530 contracts, an increase of 10% over March 2009.
First quarter 2010 ADV for all ICE futures contracts grew 28% from the prior first quarter to a record 1,289,160 contracts. ICE Futures Europe and ICE Futures U.S. established new quarterly ADV records of 847,540 and 427,281 contracts, respectively. Volume across the exchanges increased 26% to a record 78,653,035 contracts.

Energy and Credit OTC Transaction Revenues

First quarter 2010 ADC for ICE's OTC energy business were a record $1.37 million, up 27% from the first quarter of 2009.
Revenues from ICE's credit default swap (CDS) trade execution, processing and clearing totaled $41 million, up 9% from the first quarter of 2009 and 5% from the fourth quarter of 2009, including $10 million from CDS clearing.

Operating and Financial Guidance Update

On March 31, ICE entered into new aggregate $725 million three-year senior unsecured revolving credit facilities (the "New Credit Facilities") pursuant to a Credit Agreement with Wells Fargo Bank, National Association, as Administrative Agent, Bank of America, N.A., as Syndication Agent, and the lenders named therein. ICE continues to reserve $303 million of the $725 million for ICE's clearing houses and the remainder is available for general corporate purposes. In connection with entering the New Credit Facilities, ICE terminated a $300 million revolving credit facility that was scheduled to expire on April 9, 2010 and a $100 million revolving credit facility that was scheduled to expire on April 9, 2012. ICE does not expect the New Credit Facilities to have a material impact on its annual interest expense and reiterates its guidance of $20 million to $25 million for 2010.

March 2010 Review

ICE Futures Europe records achieved in March:The ICE Brent Crude futures contract established a monthly volume record of 9,278,614 contracts.
The ICE Gasoil futures contract established monthly volume and ADV records of 5,096,457 and 221,585 contracts, respectively.
Volume and open interest records were also established for emissions and coal futures contracts.
ICE Futures U.S. records achieved in March:The ICE U.S. Dollar Index (USDX) established a monthly ADV record of 30,759 contracts. First quarter 2010 ADV and open interest in the USDX increased 295% and 97%, respectively, over the prior first quarter.
The USDX also set a daily volume record of 77,811 contracts on March 12.
Through March 29, ICE's CDS clearing houses cleared $7.0 trillion in gross notional
value on more than 120,000 transactions. ICE now offers CDS clearing for 61 indexes and 126 single name instruments across the U.S. and Europe.ICE Trust U.S. (ICE Trust) cleared $4.6 trillion of gross notional value, including $73 billion in single-name CDS, resulting in open interest of $312 billion.
ICE Clear Europe cleared euro 1.7 trillion ($2.4 trillion) of gross notional value, including euro 138 billion in single-name CDS, resulting in euro 198 billion ($267 billion) of open interest.
On March 9, ICE marked the first anniversary of ICE Trust and announced the next set of initiatives for CDS clearing.
On March 10, ICE Futures U.S. announced that
the Russell 1000(R) Growth and Russell 1000(R) Value Index futures contracts will begin trading on May 3, 2010.
On March 15, USDX options on futures began trading on the ICE electronic platform. USDX options continue to be offered on the ICE Futures U.S. options trading floor.
Trading days in March 2010: ICE Futures Europe: 23
ICE Futures U.S.: 23
ICE Futures Canada: 23

ICE Futures Contracts & Markets Monthly ADV

Product Line ADV ADV ADV
March March % Change
2010 2009
ICE Brent Crude futures &
options 403,511 282,039 43.1
ICE Gasoil futures & options 222,482 129,971 71.2
ICE WTI Crude futures &
options 172,862 177,567 -2.6
ICE ECX emissions futures &
options (1) 20,715 24,531 -15.6
Other futures contracts (2) 20,082 13,706 46.5
TOTAL ICE FUTURES EUROPE 839,652 627,814 33.7
Russell 2000(R) mini futures &
options 163,343 217,422 -24.9
Sugar No. 11 futures & options 167,309 108,345 54.4
Other agricultural commodity
contracts (3) 64,648 52,008 24.3
Currency futures (4) 36,762 13,949 163.5
Index futures (5) 2,401 3,760 -36.1
Other contracts (6) 67 412 -83.8
TOTAL ICE FUTURES U.S. 434,530 395,896 9.8
TOTAL ICE FUTURES CANADA 12,548 12,998 -3.5
------ ------ ----
TOTAL FUTURES CONTRACTS 1,286,730 1,036,708 24.1%

(1) ICE ECX EUA and ICE ECX CER futures and options contracts are the
result of a cooperative relationship between ICE Futures Europe and
the European Climate Exchange. ICE Futures Europe shares in the
transaction fee revenue derived from these contracts.
(2) "Other futures contracts" include ICE Middle East Sour Crude futures;
ICE ASCI Gulf Coast Sour Crude futures; ICE Heating Oil futures; ICE
Unleaded Gasoline Blendstock (RBOB) futures; ICE UK Natural Gas
futures; ICE UK Electricity futures; and ICE Coal futures.
(3) "Other agricultural commodity contracts" include futures and/or
options for Cocoa, Coffee "C", Cotton No. 2, Orange Juice, Sugar No.
14 and Sugar No. 16.
(4) "Currency futures" include futures for the U.S. Dollar Index and
foreign exchange futures.
(5) "Index futures" include futures for the Russell 1000(R) mini, the
Continuous Commodity Index, the Euro Index, and the NYSE Composite.
(6) "Other contracts" include options on foreign exchange futures and
options on index futures, excluding Russell 2000 mini options.

ICE Futures First Quarter ADV

1Q2010 1Q2009 Percent Change
------ ------ --------------
ICE Futures Europe 847,540 638,055 32.8
ICE Futures U.S. 427,281 351,613 21.5
ICE Futures Canada 14,339 14,925 -3.9
Total Futures 1,289,160 1,004,593 28.3%

ICE Futures Monthly and Quarterly Volume

March 2010 March 2009 Percent Change
---------- ---------- --------------
ICE Futures Europe 19,311,987 13,811,238 39.8
ICE Futures U.S. 9,994,181 8,709,722 14.7
ICE Futures Canada 288,608 285,946 0.9
Total Futures 29,594,776 22,806,906 29.8%

1Q2010 1Q2009 Percent Change
------ ------ --------------
ICE Futures Europe 51,699,916 40,193,742 28.6
ICE Futures U.S. 26,064,120 21,448,419 21.5
ICE Futures Canada 888,999 925,326 -3.9
Total Futures 78,653,035 62,567,487 25.7%

ICE Futures Open Interest

March 31, 2010 December 31, 2009
-------------- -----------------
ICE Futures Europe 3,173,777 2,647,694
ICE Futures U.S. 3,237,194 3,375,176
ICE Futures Canada 143,225 118,181

Rolling Three-Month Average Rate per Contract (RPC)

Three Months Three Months Three Months
Ending Ending Ending
March 2010 February 2010 January 2010
---------- ------------- ------------
ICE Futures Europe $1.53 $1.54 $1.57
ICE Futures U.S. Ag $2.12 $2.15 $2.10
ICE Futures U.S. Fin $0.92 $0.96 $0.94

RPC is calculated by dividing transaction revenues by contract volume,
and may vary based on pricing, customer and product mix.

ICE OTC Transaction & Clearing Revenues

1Q2010 4Q2009 3Q2009
------ ------ ------
OTC Energy ADC $1.37 million $1.33 million $1.25 million
CDS Execution & Clearing $41.4 million $39.4 million $43.1 million

Rate per contract, volumes and average daily commissions are estimated using best available current information. Final figures are reported in ICE's quarterly and annual filings with the Securities and Exchange Commission.

Historical futures volume, rate per contract and OTC commission data can be found at:

http://ir.theice.com/supplemental.cfm