IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, reported record volume and average daily volume (ADV) across its futures exchanges in February. Total futures volume in February 2010 was 26 million contracts, surpassing by 6% the previous record of 24.5 million contracts set in September 2009. ADV increased 39% from February 2009 to 1,370,090 contracts, representing ICE's second consecutive monthly ADV record. ICE Futures Europe established a monthly volume record of 16,969,873 contacts, and its second consecutive monthly ADV record of 893,151 contracts, up 46% from February 2009. ICE Futures U.S. also established record monthly ADV of 458,107 contracts, an increase of 29% over February 2009.
February 2010 Review
- ICE Futures Europe records achieved in February:
- The ICE Brent Crude futures contract established monthly volume and ADV records of 8,055,262 and 423,961 contracts, respectively. An open interest record of 857,981 contracts was set on February 26.
- The ICE Gasoil futures contract established monthly volume and ADV records of 4,113,214 and 216,485 contracts, respectively. An open interest record of 670,822 contracts was also set on February 8.
- Volume and open interest records were also established for emissions and coal futures contracts.
- ICE Futures U.S. records achieved in February:
- The U.S. Dollar Index established its second consecutive monthly volume and ADV records of 521,754 and 27,461 contracts, respectively. Compared to February 2009, ADV increased nearly 400% and open interest rose more than 125%.
- Since launch, ICE's credit default swaps (CDS) clearing houses have cleared $6.3 trillion in gross notional value on more than 100,000 transactions. ICE now offers CDS clearing for 53 indexes and 64 single name instruments across the U.S. and Europe.
- ICE Trust U.S. (ICE Trust) has cleared $4.2 trillion of gross notional value, including $47 billion in single-name instruments, resulting in combined open interest of $285 billion.
- ICE Clear Europe has cleared euro 1.5 trillion ($2.1 trillion) of gross notional value, including euro 97 billion in single-name instruments, resulting in euro 169 billion ($231 billion) of combined open interest.
- On February 5, ICE cleared the first trades of its Platts Iron Ore 62% IODEX swap contract.
- On February 12, ICE Futures Europe announced the March 15 launch of a natural gas futures contract based on the Title Transfer Facility (TTF) in the Netherlands.
- On February 17, ICAP Energy announced the launch of its TrueQuote OTC oil swap service, with execution, straight-through-processing and clearing provided by ICE.
- On February 19, ICE announced the appointment of Christopher S. Edmonds as President of ICE Trust.
- Trading days in February 2010
:
- ICE Futures Europe: 19
- ICE Futures U.S.: 19
- ICE Futures Canada: 19
ICE Futures Contracts & Markets Monthly ADV
Product Line ADV ADV
February February ADV
2010 2009 % Change
---- ---- --------
ICE Brent Crude futures & options 424,577 276,978 53.3
ICE Gasoil futures & options 217,652 113,416 91.9
ICE WTI Crude futures & options 207,704 185,472 12.0
ICE ECX emissions futures & options (1) 24,155 22,357 8.0
Other futures contracts (2) 19,063 15,145 25.9
--------------------------- ------ ------ ----
TOTAL ICE FUTURES EUROPE 893,151 613,368 45.6
------------------------ ------- ------- ----
Russell 2000(R) mini futures & options 132,524 147,834 -10.4
Sugar No. 11 futures & options 192,373 128,837 49.3
Other agricultural commodity contracts (3) 101,676 69,737 45.8
Currency futures (4) 30,649 8,367 266.3
Index futures (5) 738 1,226 -39.8
Other contracts (6) 147 318 -53.9
------------------- --- --- -----
TOTAL ICE FUTURES U.S. 458,107 356,319 28.6
---------------------- ------- ------- ----
TOTAL ICE FUTURES CANADA 18,832 18,986 -0.8
------------------------ ------ ------ ----
TOTAL FUTURES CONTRACTS 1,370,090 988,673 38.6%
----------------------- --------- ------- ----
(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 Year-to-Date ADV
2-mos 2010 2-mos 2009 Percent Change
---------- ---------- --------------
ICE Futures Europe 852,314 643,476 32.5
ICE Futures U.S. 422,893 326,633 29.5
ICE Futures Canada 15,395 15,985 -3.7
------------------ ------ ------ ----
Total Futures 1,290,602 986,094 30.9%
------------- --------- ------- ----
ICE Futures Monthly and Year-to-Date Volume
February 2010 February 2009 Percent Change
------------- ------------- --------------
ICE Futures Europe 16,969,873 12,267,356 38.3
ICE Futures U.S. 8,704,028 6,770,061 28.6
ICE Futures Canada 357,806 360,733 -0.8
------------------ ------- ------- ----
Total Futures 26,031,707 19,398,150 34.2%
------------- ---------- ---------- ----
2-mos 2010 2-mos 2009 Percent Change
---------- ---------- --------------
ICE Futures Europe 32,387,929 26,382,504 22.8
ICE Futures U.S. 16,069,939 12,738,697 26.2
ICE Futures Canada 600,391 639,380 -6.1
------------------ ------- ------- ----
Total Futures 49,058,259 39,760,581 23.4%
------------- ---------- ---------- ----
ICE Futures Open Interest
February 28, 2010 December 31, 2009
----------------- -----------------
ICE Futures Europe 2,976,776 2,647,694
ICE Futures U.S. 2,957,796 3,375,176
ICE Futures Canada 119,753 118,181
Rolling Three-Month Average Rate per Contract (RPC)
Three Months Three Months Three Months
Ending Ending Ending
February 2010 January 2010 December 2009
------------- ------------ -------------
Product Line
ICE Futures Europe $1.54 $1.57 $1.54
ICE Futures U.S. Ag $2.15 $2.10 $2.10
ICE Futures U.S. Fin $0.96 $0.94 $0.86
RPC is calculated by dividing transaction revenues by contract volume, and may vary based on pricing, customer and product mix.
Historical futures volume and OTC commission data can be found at:
