IntercontinentalExchange (NYSE: ICE), a leading operator of global exchanges and over-the-counter (OTC) markets, today reported volume growth in all of its business segments for the month of January, including record growth at ICE Futures U.S.(TM) and record OTC commissions.
-- Total average daily volume (ADV) for all ICE Futures contracts reached
990,841 in January 2008, an increase of 30% over January 2007.
-- ADV at ICE Futures Europe(TM) reached 590,530 contracts traded in
January 2008, an increase of 3% over January 2007; second-highest
volume month in exchange history, including records for ICE Brent and
Gas Oil futures.
-- ADV at ICE Futures U.S. more than doubled to 382,602 contracts in
January 2008, up 115% from January 2007; exchange-wide volume record
achieved.
-- ADV at ICE Futures Canada(TM) in January 2008 was 17,709 contracts, a
64% increase year-to-year.
-- Average daily commissions for ICE's global OTC business were a record
$1,145,338, a 27% increase over January 2007, surpassing the $1 million
threshold for the first time.
European Futures Volume and RPC
ICE Futures Europe reported total volume in January 2008 of 12,991,658 contracts, up 3% from 12,631,746 contracts in January 2007. ADV was the second highest in exchange history at 590,530 contracts, up 3% from 574,170 the prior January. An exchange-wide daily volume record was set during the month, including record daily volume for the benchmark ICE Brent Crude futures contract.
The three-month rolling average rate per contract (RPC) for the period of November 2007 through January 2008 was $1.27. RPC is calculated by dividing transaction revenues by contract volume, and can vary based on pricing, customer and product mix. RPC averaged $1.27 and $1.28 for the rolling three months ended December 2007 and November 2007, respectively.
On January 31, 2008, open interest for ICE Futures Europe was 1,668,817 contracts, compared to 1,641,399 contracts at December 31, 2007.
North American Futures Volume and RPC
Total futures and options volume at ICE Futures U.S. increased 124% to a record 8,045,673 contracts in January 2008, compared to volume of 3,587,475 contracts in January 2007. January 2008 ADV rose 115%, to a record 382,602 contracts, compared with 178,026 contracts in January 2007.
Electronic trading represented 90% of total ICE Futures U.S. agricultural commodity futures contracts traded in January 2008, compared to 88% in December 2007. ADV for electronically traded agricultural commodity futures was a record 215,529 contracts; total agricultural commodity futures ADV was 240,847 contracts in January 2008.
The three-month rolling average RPC for the fourth quarter of 2007 was $2.03 for agricultural futures and options. RPC averaged $2.08 for each of the rolling three months ended November 2007 and October 2007. RPC for ICE Futures U.S. is reported one month in arrears.
January 2008 contract volume for ICE Futures Canada was 389,607 contracts, up 64% over January 2007. ADV for the month of January 2008 was 17,709 contracts, also an increase of 64% over the prior year. ICE Futures Canada transitioned its products to the ICE platform on December 10, 2007.
Global OTC Markets
In January 2008, ICE's average daily commissions reached a record $1,145,338, an increase of 27% compared to $900,496 in January 2007. Average daily commissions reflect daily trading activity in ICE's global OTC energy markets.
Additional January 2008 Information:
-- ICE announced on January 31 that it has entered into an agreement to
acquire YellowJacket Software, Inc (YellowJacket). YellowJacket is a
financial technology firm that operates an electronic peer-to-peer
trade negotiation platform offering a range of trading tools including
instant communication, negotiation and data.
-- ICE was named as the 2007 Derivatives Exchange of the Year by Risk
Magazine.
-- On January 18, ICE successfully migrated its primary trade matching
engine for all OTC and futures products from Atlanta to a larger,
state-of-the-art Chicago data center location.
-- Trading days in January 2008:
-- ICE Futures Europe: 22
-- ICE Futures U.S. Agricultural: 21
-- ICE Futures U.S. Currency and Index: 22
-- ICE Futures Canada: 22
-- ICE OTC: 21
-- ICE Futures Europe product records achieved for the month:
-- ICE Futures Europe had a record exchange-wide daily volume of
885,498 contracts on January 9.
-- The ICE Brent futures contract achieved record total monthly volume
of 5,627,833, including record daily volume of 409,288 on January 9,
and record monthly ADV of 255,811.
-- The ICE Gas Oil futures contract set a monthly ADV record of
115,503.
-- The ICE ECX CFI Emissions futures contract set monthly total and ADV
records of 126,593 and 5,754, respectively. The Emissions options
contract also set monthly total and ADV records.
-- ICE Futures U.S. product records achieved for the month:
-- ICE Futures U.S. set a monthly total volume record of 8,045,663
contracts in January, including exchange-wide record daily volume of
771,846 on January 18, and record monthly ADV of 382,602.
-- Total electronic futures volume reached a daily record of 439,477
contracts on January 18.
-- ICE Sugar No. 11 futures established a new daily electronic volume
record of 373,718 contracts on January 18. On the same day, Sugar
No. 11 options contracts reached a record 252,746.
-- Open interest records were established for the Sugar No. 11, Cocoa,
Cotton and Coffee "C" futures contracts during the month of January.
-- ICE Futures Canada product records achieved for the month:
-- Open interest records were established both exchange-wide and in the
Canola futures contract.
ICE Futures: January 2008 Average Daily Volume by Product
ADV ADV ADV ADV %
January January % Electronic
Product Line 2008 2007 Change (8)
ICE Brent Crude futures 255,811 247,919 3.2 n/a
ICE WTI Crude futures 205,565 221,376 -7.1 n/a
ICE Gas Oil futures 115,503 96,204 20.1 n/a
Other contracts (1) 13,651 8,671 57.4 n/a
Total ICE Futures Europe 590,530 574,170 2.8 n/a
Sugar No. 11 futures 169,842 66,144 156.8 91.9
Other agricultural
commodity contracts (2) 201,719 98,408 105.0 83.7
Currency futures (3) 5,688 10,060 -43.5 2.9
Index futures (4) 4,991 2,768 80.3 83.7
Other contracts (5) 362 648 -44.1 n/a
Total ICE Futures U.S. 382,602 178,026 114.9 87.6
Total ICE Futures Canada (6) 17,709 10,826 63.6 n/a
TOTAL FUTURES CONTRACTS (7) 990,841 763,022 29.9 n/a
(1) "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 Europe and the Chicago
Climate Exchange, Inc. and its subsidiary, the European Climate
Exchange. ICE Futures Europe shares in the revenue derived from the
ECX CFI Futures contract.
(2) "Other agricultural commodity contracts" include futures and/or
options for Cocoa, Coffee "C", Cotton No. 2, Orange Juice, Sugar No.
14 and Sugar No. 11 options.
(3) "Currency futures" include futures for foreign exchange products.
(4) "Index futures" include futures for the US Dollar Index, Russell 2000,
Russell 2000 mini, Russell 1000, Russell 1000 mini, the Continuous
Commodity Index, the Euro Index, and the NYSE Composite.
(5) "Other contracts" include options on foreign exchange futures and
options on index futures.
(6) "ICE Futures Canada" includes futures and options for Canola, Feed
Wheat and Western Barley.
(7) ICE Futures U.S. was acquired by ICE on January 12, 2007 and ICE
Futures Canada was acquired by ICE on August 27, 2007. The January
2007 data is included for comparison purposes.
(8) ADV % Electronic calculation applies to ICE Futures U.S. and excludes
products that were not available for electronic trading at any time
during the month. ICE Futures Europe and ICE Futures Canada are fully
electronic exchanges.
ICE Futures: Rolling Three-Month Average Rate per Contract
Product Line Three Months Three Months Three Months
Ending Ending Ending
January December November
2008 2007 2007
ICE Futures Europe $1.27 $1.27 $1.28
Three Months Three Months Three Months
Ending Ending Ending
December November October
2007 2007 2007
ICE Futures U.S. (1) $2.03 $2.08 $2.08
(1) RPC for ICE Futures U.S. represents agricultural commodities only and
is reported one month in arrears.
Historical futures volume and OTC commission data can be found at: http://ir.theice.com/supplemental.cfm
About IntercontinentalExchange
IntercontinentalExchange(R) (NYSE: ICE) is a leading operator of global exchanges and over-the-counter (OTC) markets. Its unique offering of futures and OTC markets on a single trading platform includes a diverse set of products based on crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities such as canola, cocoa, coffee, cotton, ethanol, orange juice, wood pulp and sugar, in addition to foreign currency and equity index futures and options. ICE(R) conducts its energy futures markets, including the world's leading oil benchmark contracts, through its London-based exchange, ICE Futures Europe(TM). ICE conducts its global agricultural commodity, foreign exchange and equity index futures markets through its U.S. and Canadian exchanges, ICE Futures U.S.(TM) and ICE Futures Canada(TM), and offers clearing services through ICE Clear U.S.(TM) and ICE Clear Canada(TM). ICE's state-of-the-art electronic trading platform serves market participants in more than 55 countries. ICE was added to the Russell 1000(R) Index in June 2006 and the S&P 500 Index in September 2007. Headquartered in Atlanta, ICE has offices in Calgary, Chicago, Dublin, Houston, London, New York, Singapore and Winnipeg. For more information, please visit www.theice.com.
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 ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2006, and the Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30 and September 30, 2007, each as filed with the SEC on February 26, 2007, May 4, 2007, July 27, 2007 and October 26, 2007, respectively.
SOURCE IntercontinentalExchange
http://www.theice.com
