IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today reported activity for June and the second quarter of 2012. ICE's futures average daily volume (ADV) increased 11% in the second quarter of 2012 over the prior year. ADV for June 2012 was a record 1,795,342 contract, up 7% from the prior June. ICE's second quarter OTC energy average daily commissions (ADC) were $1.58 million, up 3% from the prior second quarter.
Global Futures Exchanges
ICE operates three regulated futures exchanges: ICE Futures Europe, ICE Futures U.S. and ICE Futures Canada.
- June 2012 volume across ICE's futures exchanges increased 3% from June 2011, to 37,702,199 contracts. ICE Futures Europe ADV was 1,224,942 contracts, up 9% over June 2011. ICE Futures U.S. ADV grew 5% over the prior June to a record 550,629 contracts.
- Second quarter 2012 ADV for all ICE futures contracts grew 11% from the prior second quarter to a record 1,626,852 contracts. Volume at ICE Futures Europe was a record 72,069,984 contracts and ADV at the exchange was 1,143,968 contracts. Total volume across all exchanges increased 11% to a record 102,491,710 contracts.
- ADV for the first half of 2012 for all ICE futures contracts was 1,591,482 contracts, up 4% compared to the first half of 2011.
Energy and Credit OTC Transaction Revenues
- Second quarter 2012 ADC for ICE's OTC energy business was $1.58 million, up 3% from the second quarter of 2011.
- Revenues from ICE's credit default swap (CDS) trade execution, processing and clearing business totaled $36 million, down 12% from the second quarter of 2011, and included $15 million in CDS clearing revenues.
Operating and Financial Guidance Update
- ICE expects acquisition-related expenses to be approximately $4 million for the three months ended June 30, 2012.
June and Second Quarter 2012 Review
- ICE Futures Europe records:
- An open interest record of 5,956,137 contracts was established on June 8.
- ICE Brent Crude futures set monthly volume and ADV records of 15,052,437 and 716,783 contracts, respectively.
- ICE Heating Oil futures established total monthly volume and ADV records.
- During June, open interest records were established in the following contracts: Brent Crude options (1,213,475 contracts), Rotterdam Coal futures (93,014), Dutch TTF Gas futures (59,960), EUA Emissions futures (832,729), ERU Emissions futures (31,163) and Low Sulphur Gasoil futures (6,917).
- ICE Futures U.S. records:
- The exchange established a monthly ADV record of 550,629 contracts in June.
- A daily volume record of 851,852 contracts was established on June 12, with 801,304 futures contracts and 50,548 options on futures traded.
- The exchange established records for futures monthly volume and futures ADV of 10,609,027 and 505,192 contracts, respectively.
- Cocoa futures set a monthly volume record of 620,166 contracts and Coffee C options established an open interest record of 294,048 contracts.
- ICE announced management promotions on June 4.
- ICE Trade Vault became the first swap data repository to receive provisional registration from the Commodity Futures Trading Commission (CFTC) on June 28.
- Through June 29, ICE's CDS clearing houses have cleared $32.1 trillion in gross notional value on a cumulative basis across 958,704 transactions. ICE lists 340 CDS instruments for clearing.
- ICE Clear Credit has cleared $18.6 trillion of gross notional value since inception, including $1.8 trillion in single-name CDS, resulting in open interest of $900 billion. ICE Clear Credit offers clearing for 43 indexes, 132 corporate single-names and four Latin American sovereign CDS.
- ICE Clear Europe has cleared euro 9.9 trillion ($13.5 trillion) of gross notional value since inception, including euro 1.4 trillion ($1.8 trillion) in single-name CDS, resulting in euro 604 billion ($764 billion) of open interest. ICE Clear Europe offers clearing for 40 indexes and 121 single-names.
- Trading days in June 2012:
- ICE Futures Europe: 21
- ICE Futures U.S.: 21
- ICE Futures Canada: 21
|
ICE Futures Contracts & Markets Monthly ADV |
|||
|
Product Line |
ADV June 2012 |
ADV June 2011 |
ADV % Change |
|
ICE Brent Crude futures & options |
754,616 |
600,829 |
25.6 |
|
ICE Gasoil futures & options |
253,287 |
241,357 |
4.9 |
|
ICE WTI Crude futures & options |
135,517 |
209,666 |
-35.4 |
|
ICE ECX emissions futures & options |
30,679 |
37,819 |
-18.9 |
|
Other futures contracts (1) |
50,843 |
33,816 |
50.4 |
|
TOTAL ICE FUTURES EUROPE |
1,224,942 |
1,123,487 |
9.0 |
|
Index futures & options (2) |
190,354 |
209,244 |
-9.0 |
|
Sugar No. 11 futures & options |
183,903 |
173,826 |
5.8 |
|
Other agricultural commodity contracts (3) |
132,407 |
96,576 |
37.1 |
|
Currency futures and options contracts (4) |
43,965 |
47,173 |
-6.8 |
|
TOTAL ICE FUTURES U.S. |
550,629 |
526,819 |
4.5 |
|
TOTAL ICE FUTURES CANADA & CCFE |
19,771 |
20,577 |
-3.9 |
|
TOTAL FUTURES CONTRACTS |
1,795,342 |
1,670,883 |
7.4 |
(1) "Other futures contracts" include ICE UK Natural Gas futures; ICE Coal futures; ICE Dutch TTF and German Natural Gas futures; ICE UK Electricity futures; ICE Heating Oil futures; ICE Unleaded Gasoline Blendstock (RBOB) futures; and Coal and Natural Gas options.
(2) "Index futures & options" includes Russell 2000® mini futures and options and futures for the Russell 1000® mini, the Continuous Commodity Index, the Euro Index and the NYSE Composite.
(3) "Other agricultural commodity contracts" include futures and/or options for Cocoa, Coffee "C", Cotton No. 2, Orange Juice, Sugar No. 14, Sugar No. 16, Corn, Wheat and Soybeans.
(4) "Currency futures and options" include futures and options for the U.S. Dollar Index and foreign exchange.
|
ICE Futures Second Quarter 2012 and Year-to-Date ADV |
|||
|
2Q2012 |
2Q2011 |
Percent Change |
|
|
ICE Futures Europe |
1,143,968 |
1,010,785 |
13.2 |
|
ICE Futures U.S. |
461,479 |
435,542 |
6.0 |
|
ICE Futures Canada & CCFE |
21,405 |
19,364 |
10.5 |
|
Total Futures |
1,626,852 |
1,465,691 |
11.0 |
|
6-mos 2012 |
6-mos 2011 |
Percent Change |
|
|
ICE Futures Europe |
1,132,380 |
1,080,652 |
4.8 |
|
ICE Futures U.S. |
436,060 |
429,981 |
1.4 |
|
ICE Futures Canada & CCFE |
23,042 |
19,752 |
16.7 |
|
Total Futures |
1,591,482 |
1,530,385 |
4.0 |
|
ICE Futures Monthly, Quarterly and Year-to-Date Volume |
|||
|
June 2012 |
June 2011 |
Percent Change |
|
|
ICE Futures Europe |
25,723,780 |
24,716,718 |
4.1 |
|
ICE Futures U.S. |
11,563,219 |
11,590,012 |
-0.2 |
|
ICE Futures Canada & CCFE |
415,200 |
452,702 |
-8.3 |
|
Total Futures |
37,702,199 |
36,759,432 |
2.6 |
|
2Q2012 |
2Q2011 |
Percent Change |
|
|
ICE Futures Europe |
72,069,984 |
63,679,439 |
13.2 |
|
ICE Futures U.S. |
29,073,196 |
27,439,127 |
6.0 |
|
ICE Futures Canada & CCFE |
1,348,530 |
1,219,906 |
10.5 |
|
Total Futures |
102,491,710 |
92,338,472 |
11.0 |
|
6-mos 2012 |
6-mos 2011 |
Percent Change |
|
|
ICE Futures Europe |
141,547,547 |
135,081,446 |
4.8 |
|
ICE Futures U.S. |
54,507,525 |
53,747,631 |
1.4 |
|
ICE Futures Canada & CCFE |
2,903,160 |
2,469,042 |
17.6 |
|
Total Futures |
198,958,232 |
191,298,119 |
4.0 |
|
ICE Futures Open Interest |
||
|
June 30, 2012 |
December 31, 2011 |
|
|
ICE Futures Europe |
5,934,229 |
3,905,986 |
|
ICE Futures U.S. |
2,793,206 |
2,680,454 |
|
ICE Futures Canada & CCFE |
252,284 (Jun 28, 2012) |
170,894 |
|
Rolling Three-Month Average Rate per Contract (RPC) |
|||
|
Product Line |
Three Months |
Three Months |
Three Months |
|
ICE Futures Europe |
$1.56 |
$1.55 |
$1.55 |
|
ICE Futures U.S. Ag |
$2.63 |
$2.58 |
$2.70 |
|
ICE Futures U.S. Fin |
$0.88 |
$0.91 |
$0.88 |
|
ICE OTC Transaction & Clearing Revenues |
|||
|
2Q2012 |
1Q2012 |
4Q2011 |
|
|
OTC Energy ADC |
$1.58 million |
$1.95 million |
$1.61 million |
|
CDS Execution & Clearing |
$36 million |
$40 million |
$41 million |
RPC is calculated by dividing transaction revenues by contract volume, and may vary based on pricing, customer and product mix.
Historical futures volume, rate per contract and OTC commission data can be found at: http://ir.theice.com/supplemental.cfm
