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IntercontinentalExchange (NYSE: ICE), a leading operator of global derivatives exchanges and over-the- counter (OTC) markets, today reported solid growth in volume and commissions for the month of May. Average daily volume (ADV) in futures during May rose 20%, and OTC commissions increased 68% over May 2007.
- Total ADV for all ICE Futures contracts reached 872,555 in May 2008 compared to 724,991 in May 2007.
- ADV at ICE Futures Europe(TM) reached 643,339 contracts in May 2008, an increase of 25% over May 2007; an exchange-wide monthly volume record was achieved, including a monthly volume record in the ICE Brent Crude futures contract.
- ADV at ICE Futures U.S.(TM) increased to 218,147 contracts in May 2008, up 12% from May 2007; volume records were achieved in the mini Russell 2000(R) Index futures contract.
- ADV at ICE Futures Canada(TM) in May 2008 was 11,069 contracts, a 24% decrease year-to-year.
- Average daily commissions for ICE's global OTC business rose to $1,193,325, a 68% increase over May 2007.
European Futures Volume and RPC
ICE Futures Europe reported May volume of 14,149,717 contracts, representing a 20% increase from 11,840,616 contracts in May 2007. ADV was 643,339 contracts, up 25% from 514,809 the prior May.
The three-month rolling average rate per contract (RPC) for the period ended May 2008 was $1.21. RPC is calculated by dividing transaction revenues by contract volume, and can vary based on pricing, customer and product mix. RPC averaged $1.24 for the three months ended April 2008 and $1.25 for the first quarter of 2008.
On May 31, 2008, open interest for ICE Futures Europe was 1,746,060 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 7% to 4,598,435 contracts in May 2008, compared to volume of 4,303,281 contracts in May 2007. May 2008 ADV rose 12%, to 218,147 contracts, compared with 195,604 contracts in May 2007.
The three-month rolling average RPC for the period ended May 2008 was $2.13 for agricultural futures and options. RPC averaged $2.16 and $2.14 for the three months ended April 2008 and for the first quarter of 2008, respectively.
On May 31, 2008, open interest for ICE Futures U.S. was 3,637,345 contracts, compared to 3,389,923 contracts at December 31, 2007.
ICE Futures Canada recorded May 2008 contract volume of 232,440 contracts, down 24% from May 2007. ADV was 11,069 contracts, a decrease of 24% from the prior May.
On May 31, 2008, open interest for ICE Futures Canada was 123,189 compared to 168,928 contracts on December 31, 2007.
Global OTC Markets
In May 2008, ICE's average daily commissions were $1,193,325, an increase of 68% compared to $711,074 in May 2007. Average daily commissions reflect daily trading activity in ICE's global OTC energy markets.
Additional May 2008 Information:
-- On May 19, ICE announced the introduction of floor-based mini options,
including serial options, on the mini Russell 1000(R) and mini Russell
2000(R) Index futures contracts.
-- On May 13, ICE received recognition from the U.K. Financial Services
Authority (FSA) as a U.K. Recognised Clearing House, following HM
Treasury approval and an Office of Fair Trading review. ICE Clear
Europe is being formed to provide clearing services to the global
energy markets for over-the-counter and European futures transactions
executed on ICE's electronic platform.
-- Trading days in May 2008:
-- ICE Futures Europe: 22
-- ICE Futures U.S. Agricultural: 21
-- ICE Futures U.S. Currency and Index: 22
-- ICE Futures Canada: 21
-- ICE OTC: 21
-- ICE Futures Europe product records achieved for the month:
-- An exchange-wide monthly volume record of 14,149,717 contracts was
achieved in May, including a daily volume record of 896,002
contracts on May 14.
-- The ICE Brent Crude futures contract set an all-time total monthly
volume record of 6,702,442, including a daily volume record of
518,053 on May 14.
-- An ADV record of 304,656 was also set in the ICE Brent Crude
futures contract.
-- The ICE WTI Crude futures contract reached its second highest total
monthly volume with 5,031,824 contracts traded and ADV of 228,719.
-- ICE Futures U.S. product records achieved for the month:
-- The mini Russell 2000(R) Index futures contract set a monthly
record of 96,756 contracts, including a daily record of 7,969
contracts on May 21.
ICE Futures: May 2008 Average Daily Volume by Product
ADV ADV ADV
May May % Change
Product Line 2008 2007
ICE Brent Crude futures 304,656 235,975 29.1
ICE WTI Crude futures 228,719 185,936 23.0
ICE Gas Oil futures 97,494 82,130 18.7
Other contracts (1) 12,470 10,768 15.8
Total ICE Futures Europe 643,339 514,809 25.0
Sugar No. 11 futures & options 122,878 109,188 12.5
Other agricultural commodity
contracts (2) 77,916 77,624 0.4
Currency futures (3) 5,560 6,009 -7.5
Index futures (4) 11,190 2,217 404.8
Other contracts (5) 603 566 6.6
Total ICE Futures U.S. 218,147 195,604 11.5
Total ICE Futures Canada (6) 11,069 14,578 -24.1
TOTAL FUTURES CONTRACTS (7) 872,555 724,991 20.4
(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-ECX CFI CER
futures; ICE UK Electricity futures; ICE Coal futures; ICE Brent
options; ICE WTI options, ICE Gas Oil options and ICE-ECX CFI options.
The ICE-ECX CFI futures and options contracts are 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 and options contracts.
(2) "Other agricultural commodity contracts" include futures and/or
options for Cocoa, Coffee "C", Cotton No. 2, Orange Juice, and Sugar
No. 14.
(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.
ICE Futures: Rolling Three-Month Average Rate per Contract
Three Months Three Months Three Months
Product Line Ending Ending Ending
May 2008 April 2008 March 2008
ICE Futures Europe $1.21 $1.24 $1.25
ICE Futures U.S. $2.13 $2.16 $2.14
Monthly RPC and OTC 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 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. ICE offers futures and OTC markets on a single trading platform, including markets for crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities and financial products such as canola, cocoa, coffee, cotton, ethanol, orange juice, wood pulp, sugar, foreign currency and equity index futures and options. ICE(R) conducts its energy futures markets, including the 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 is included in the Russell 1000(R) Index and the S&P 500 Index. Headquartered in Atlanta, ICE has offices in Calgary, Chicago, 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, 2007, as filed with the SEC on February 13, 2008.
SOURCE IntercontinentalExchange
http://www.theice.com
