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IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace and soft commodity exchange, announced today that for the first time, ICE Futures Europe has surpassed 100 million contracts traded in a single year. As of September 25, volume on ICE Futures Europe exceeded 100 million contracts year to date, representing an increase of 61% compared with the same time period in 2006.
Total volume to date in 2007 already exceeds the 92.7 million contracts traded for all of 2006.
"Our focus on growth, product innovation and technology has resulted in nearly half of the world's crude oil and refined products being traded on ICE Futures Europe," said ICE Chairman and CEO Jeffrey C. Sprecher. "We continue to seek new ways of offering our global energy community opportunities to manage price risks and participate in the growth of this vibrant sector."
"Energy products are playing an increasingly important role in the world economy as emerging markets develop," said David Peniket, ICE Futures Europe President and COO. "This is coupled with the rising demand for hedging and participation in the broader commodities asset class. As we pursue new opportunities in execution, risk management and clearing, we do so with a strong commitment to providing liquid, competitive and transparent markets for our global customer community."
The predecessor to ICE Futures Europe was the International Petroleum Exchange (IPE), which ICE acquired in 2001, a year in which 26.4 million contracts were traded on the exchange. In 2005, ICE Futures Europe was converted to a completely electronic futures exchange, and 42.1 million contracts were traded during that year. Today, ICE Futures Europe is fully electronic and operates around the clock, offering screens in 50 countries.
Products traded on the exchange include the Brent and West Texas Intermediate (WTI) global crude benchmark contracts, Middle East Sour Crude, Gas Oil, Natural Gas, Electricity, Coal and ECX carbon financial instruments.
About IntercontinentalExchange
IntercontinentalExchange(R) (NYSE: ICE) operates global commodity and
financial products marketplaces, including the world's leading electronic
energy markets and soft commodity exchange. ICE's diverse futures and over-
the-counter (OTC) markets offer contracts based on crude oil and refined
products, natural gas, power and emissions, as well as agricultural
commodities including 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 through ICE Futures
Europe(sm), its London-based futures exchange, which offers the world's
leading oil benchmarks and trades nearly half of the world's global crude
futures in its markets. ICE conducts its soft commodity, foreign exchange and
equity index markets through its U.S. futures exchange, ICE Futures U.S.(sm),
which provides global futures and options markets, as well as clearing
services through ICE Clear U.S.(sm) In August 2007, ICE acquired the Winnipeg
Commodity Exchange Inc., the leading agricultural futures exchange in Canada.
ICE's state-of-the-art electronic trading platform brings market access and
transparency to participants in more than 50 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 also has offices in Calgary, Chicago, Dublin,
Houston, London, New York, Singapore and Winnipeg.
For more information,
please visit www.theice.com.
