IPE Sets September Volume Records - Parallel Trading In Brent Crude Oil To Commence On 6 October

The IPE, Europe's leading energy Exchange, announced record September volumes in both the IPE Brent crude oil and IPE Gas Oil futures contracts. Volumes in Brent futures reached 2,166,464 lots, exceeding the previous September 01 record by 9 per cent. IPE Gas Oil futures totaled 822,365, beating the 2001 September record by 14 per cent.

The IPE's total volume for all contracts reached the 3rd highest level in the Exchange's history at 3,046,782 lots. The current volume record was set in January 2003.

Also of note, the one-millionth futures contract to trade on the IPE's electronic platform traded on 24 September. The IPE platform is provided by IntercontinentalExchange (ICE) and will serve as the electronic platform for parallel trading in IPE Brent Crude futures, where trading will be available simultaneously in the open outcry environment and on ICE's electronic platform beginning 6 October.

"I am extremely pleased with the continued strong performance of the Exchange's futures contracts" said Dr. Richard Ward, Chief Executive of the IPE. "The launch of parallel trading is an important milestone for the Exchange and its participants. The availability of electronically traded contracts brings further opportunities to build volumes at the IPE and to expand access to key IPE benchmark futures here in London and internationally."