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International Petroleum Exchange Reports Record April For Brent Crude Futures

Date 02/05/2002

The International Petroleum Exchange (IPE), Europe's leading energy futures and options exchange, announced today it has posted an all-time record in Brent Crude futures trading, which broke through the 2 million lot mark for the first time in April 2002.

In April a total of 2,068,250 Brent Crude futures lots traded on the IPE, surpassing by almost 4 percent the Exchange's previous monthly record of 1,986,701 lots set in September 2001. Total market volume in all products traded on the Exchange in April was the second highest recorded at 2,770,767 lots compared to the record 2,780,644, also set in September 2001.

"We are very pleased to see strong trading activity continue in Brent Crude futures," said Stephen Gutteridge, Business Development Director. "Another record month in Brent Crude futures is a direct reflection of our Members and customers' confidence in the IPE as a neutral, regulated market place that effectively manages price risk exposure in ever increasing volatile market conditions."