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IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, today reported futures volume for June and the second quarter of 2013. ICE's average daily volume (ADV) for futures and options for June 2013 was 3,465,509 contracts, a decrease of 4% from the prior June. Total volume in June 2013 was 69 million contracts. ADV for the second quarter 2013 was 3,544,688 contracts, an increase of 3% from the prior second quarter. All prior period contract volumes have been adjusted to include the transitioned futures contracts, which previously traded in ICE's OTC markets.
Credit Transaction and Clearing Revenues
- Second quarter revenues from ICE's credit default swap (CDS) trade execution, processing and clearing business totaled $40 million, compared to $36 million in the prior second quarter, and included $22 million in CDS clearing revenues. ICE has cleared more than $1.5 trillion in CDS gross notional value by buyside participants, of which $1.3 trillion has been cleared since the CFTC clearing mandate went into effect.
Financial Guidance
- ICE expects acquisition-related transaction costs for 2Q13 in the range of $8 million to $10 million, relating to the NYSE Euronext transaction, which will be excluded from non-GAAP results.
June 2013 Review
- ICE received European Commission approval for its NYSE Euronext acquisition. The completion of the transaction is subject to final approval from the Euronext College of Regulators, the U.S. Securities and Exchange Commission, and other national financial regulators.
- ICE Clear Europe completed the clearing transition of NYSE Liffe derivative contracts on July 1.
- ICE will announce its second quarter 2013 financial results on Tuesday, August 6.
- Monthly volume records were established in Sugar 11 futures, cocoa futures and ICE U.S. Dollar Index futures.
- Daily volume records were established in cocoa futures, ICE U.S. Dollar Index futures, Russell 1000 Growth Index futures and coal options.
- Agriculture products established monthly and ADV records in June. Additionally, ICE Futures U.S. reported a monthly record in agriculture and financial products combined.
- In June, open interest records were set in EUA emission futures and several coal contracts.
|
ICE Futures Contracts & Markets ADV |
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|
Product Line (Futures & Options) |
ADV June 2013 |
ADV June 2012 |
ADV % Change |
ADV 2Q13 |
ADV 2Q12 |
ADV % Change |
|
ICE Brent |
609,777 |
754,616 |
-19% |
696,887 |
678,136 |
3% |
|
ICE Gasoil |
288,864 |
254,089 |
14% |
268,736 |
249,356 |
8% |
|
ICE Other Oil (1)* |
257,954 |
208,624 |
24% |
251,923 |
203,270 |
24% |
|
ICE OIL |
1,156,594 |
1,217,330 |
-5% |
1,217,546 |
1,130,762 |
8% |
|
ICE Natural Gas* |
1,093,210 |
1,486,027 |
-26% |
1,285,983 |
1,484,254 |
-13% |
|
ICE Power* |
535,648 |
292,630 |
83% |
515,002 |
321,907 |
60% |
|
ICE Emissions & Other (2) |
49,659 |
36,080 |
38% |
42,461 |
34,655 |
23% |
|
TOTAL ENERGY |
2,835,111 |
3,032,067 |
-6% |
3,060,992 |
2,971,577 |
3% |
|
ICE Sugar |
218,977 |
184,298 |
19% |
158,762 |
152,954 |
4% |
|
ICE Other Ags (3) |
157,293 |
151,784 |
4% |
142,652 |
138,319 |
3% |
|
TOTAL AGRICULTURAL |
376,270 |
336,082 |
12% |
301,414 |
291,273 |
3% |
|
ICE Equity Index (4) |
194,210 |
190,354 |
2% |
137,799 |
157,332 |
-12% |
|
ICE FX (5) |
59,919 |
43,965 |
36% |
44,483 |
34,279 |
30% |
|
TOTAL FINANCIALS |
254,128 |
234,318 |
8% |
182,282 |
191,612 |
-5% |
|
TOTAL FUTURES & OPTIONS |
3,465,509 |
3,602,468 |
-4% |
3,544,688 |
3,454,462 |
3% |
|
Note: Figures may not foot due to rounding. (1) "ICE Other Oil" includes futurized oil contracts, WTI, Heating Oil, RBOB Gasoline and Middle East Sour Crude. Excludes Daily Brent Bullet contracts. (2) "ICE Emissions & Other" includes all emissions contracts, freight, coal and iron ore and uranium. (3) "ICE Other Ags" includes Cocoa, Coffee "C", Cotton No. 2, Orange Juice, Corn, Wheat, Soybeans, Barley and Canola. (4) "ICE Equity Index" includes the Russell 2000®, Russell 1000®, the Continuous Commodity Index, and credit index futures. (5) "ICE FX" includes futures and options for the U.S. Dollar Index and foreign exchange. *Historical volume has been adjusted to include new energy futures contracts. |
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|
ICE Futures Monthly and 2Q Volume |
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|
Futures & Options Products |
June 2013 |
June 2012 |
Volume % Change |
Volume 2Q13 |
Volume 2Q12 |
Volume % Change |
|
Energy* |
56,702,218 |
63,673,404 |
-11% |
195,903,493 |
187,209,355 |
5% |
|
Agricultural |
7,525,396 |
7,057,731 |
7% |
19,290,489 |
18,350,187 |
5% |
|
Financials |
5,082,564 |
4,920,688 |
3% |
11,666,078 |
12,071,539 |
-3% |
|
TOTAL CONTRACTS |
69,310,178 |
75,651,823 |
-8% |
226,860,060 |
217,631,081 |
4% |
|
*Historical energy volume has been adjusted to include new energy futures contracts. |
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|
Rolling Three-Month Average Rate per Contract (RPC) |
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|
Futures & Options Products |
Three Months Ending June 2013 |
Three Months Ending May 2013 |
Three Months Ending Apr 2013 |
|
Energy |
$1.04 |
$1.02 |
$1.04 |
|
Agricultural |
$2.60 |
$2.56 |
$2.61 |
|
Financials |
$0.96 |
$1.01 |
$1.00 |
|
ICE Futures & Options Open Interest |
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|
June 28, 2013 |
December 31, 2012 |
|
|
Energy |
83,523,104 |
70,108,837 |
|
Agricultural |
2,348,705 |
2,502,583 |
|
Financials |
463,171 |
463,058 |
|
* OI for ICE Futures Canada is for June 27, 2013. |
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- Through June 28, ICE's CDS clearing houses have cleared $42 trillion in gross notional value on a cumulative basis across 1.35 million trades with open interest of $1.5 trillion. ICE Clear Credit has cleared $25 trillion in CDS resulting in open interest of $826 billion. ICE Clear Europe has cleared €13 trillion ($17 trillion) in CDS resulting in €525 billion ($683 billion) of open interest. ICE lists more than 400 CDS instruments for clearing. A complete summary of CDS clearing can be found at: https://www.theice.com/clear_credit.jhtml
- Trading days in June 2013
- ICE Futures Europe & U.S: 20
- ICE Futures Canada: 20
Note: As of October 15, 2012, ICE transitioned all of the open interest in OTC cleared energy swaps contracts to futures contracts. All futures volumes in the tables above have been adjusted to treat, on a pro forma basis, the OTC cleared energy swaps contracts as futures contracts for all periods prior to October 2012.
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 open interest data can be found at: http://ir.theice.com/supplemental.cfm
