IPE Begins 2002 With Record Volumes

The IPE, Europe's leading energy futures and options exchange, commenced 2002 by setting record volumes for January. Not only did IPE Brent Crude futures and Gas Oil futures set new records, but total market volume for January was also a record.

IPE Brent Crude futures, for January 2002, traded 1,890,061 lots, equivalent to 1.8 billion barrels of crude oil. This compared to 1,607,578 lots traded in January 2001 and represents a rise of 18%. IPE Gas Oil futures traded 689,161 lots in January 2002 compared to the 600,981 lots traded in January 2001 - a rise of 15%.

Monthly total market volume for January 2002 rose by 15% compared to January 2001. Volumes increased from 2,292,462 lots to 2,635,849 lots.

Stephen Gutteridge, Business Development Director, said "In ever more volatile markets, these records demonstrate that our Members and customers continue to appreciate the value of the IPE as a highly liquid, secure and well-regulated market-place to manage their price risks."