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IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace, yesterday reported record volume during the month of October. Average daily volume (ADV) for ICE Futures, ICE’s London-based regulated futures subsidiary, set a record for the tenth consecutive month at 471,268 contracts, an increase of 157.3% over ADV in October 2005. Average daily commissions in ICE’s over-the-counter (OTC) business segment in October increased 158.8% over October 2005, to $849,454.
Futures Business Segment
In October, monthly contract volume at ICE Futures exceeded the 10 million contract mark for the first time in the exchange’s history. Total monthly futures volume in October rose 169.6% to a record 10,367,903 contracts, compared to total monthly volume of 3,845,664 contracts in October 2005. October 2006 ADV rose 157.3% to a record 471,268 contracts compared to ADV of 183,127 contracts in October 2005, and surpassed the previous ADV record set in September 2006 by 5.2%. At October 31, 2006, open interest for ICE Futures stood at a record 1,491,413 contracts, compared to 648,585 contracts at December 31, 2005.
ICE Futures’ three leading contracts, ICE Brent Crude futures, ICE WTI Crude futures and ICE Gas Oil futures, each achieved record monthly volume totals in October and ended the month with new open interest records.
October volume for ICE Brent Crude futures was 4,608,370 contracts. ADV in the contract was a record 209,471, an increase of 57.9% compared to October 2005.
Volume in the ICE WTI Crude futures contract was 3,732,375 contracts, and ADV was a record 169,653 contracts. The contract has achieved consecutive monthly volume and ADV records each month since its February 2006 launch.
ICE Gas Oil futures monthly volume totaled 1,856,580 contracts in October, and ADV was 84,390 contracts, an increase of 78.6% compared to October 2005.
| Contract |
Total Volume Oct 2006
|
Total Volume Oct 2005
|
Volume % Change
|
ADV Oct 2006
|
ADV Oct 2005
|
ADV % Change
|
| ICE Brent Crude futures | 4,608,370 | 2,785,077 | 65.5 | 209,471 | 132,623 | 57.9 |
| ICE WTI Crude futures | 3,732,375 | n/a | -- | 169,653 | n/a | -- |
| ICE GasOil futures | 1,856,580 | 992,330 | 87.1 | 84,390 | 47,254 | 78.6 |
| Other contracts* | 170,578 | 68,257 | 149.9 | 7,754 | 3,250 | 138.6 |
| Total ICE Futures contract volume | 10,367,903 | 3,845,664 | 169.6 | 471,268 | 183,127 | 157.3 |
* "Other contracts" include ICE Heating Oil futures, ICE Unleaded Gasoline Blendstock (RBOB) futures, ICE UK Natural Gas futures, ICE-ECX CFI futures, ICE UK Electricity futures, ICE Coal futures, ICE Brent options and ICE Gas Oil options. The ICE-ECX CFI futures contract is the result of a cooperative relationship between ICE Futures and the Chicago Climate Exchange, Inc. and its subsidiary, the European Climate Exchange. ICE Futures shares in the revenue derived from the ECX CFI Futures contract.
OTC Business Segment
In ICE’s OTC business segment, average daily commissions reflect daily trading activity in the company’s electronic OTC markets. In October 2006, ICE’s average daily commissions increased 158.8% to $849,454 from $328,196 in October 2005. The increase in average daily commissions was driven in part by ICE’s new and existing cleared OTC contracts, new participants, and continued price volatility in energy commodities.
|
Oct 2006
|
Oct 2005
|
% Change
|
|
| ICE OTC Average Daily Commissions |
$849,454
|
$328,196
|
158.8%
|
Additional September Highlights:
- For the fifth consecutive month, ICE Futures averaged 50% market share in global crude futures as measured by volume of light sweet crude oil.
- The ICE Brent Crude futures contract set a daily volume record of 265,355 contracts on October 30.
- ICE Futures established an exchange-wide open interest record on October 31 of 1,491,413 contracts.
- Open interest in ICE Brent Crude futures reached a record 582,700 contracts on October 31.
- ICE WTI Crude futures set an open interest record of 438,617 contracts on October 31.
- Open interest in ICE Futures' crude oil futures contracts, Brent and WTI, exceeded one million contracts on October 31.
- ICE Gas Oil futures set an open interest record of 313,019 contracts on October 31.
Historical futures volume and OTC commission data can be found at: https://www.theice.com/marketdata/recordsAndVolumes/volumes2006.jsp
About IntercontinentalExchange
IntercontinentalExchange® (NYSE: ICE) operates the leading global, electronic marketplace for trading both futures and OTC energy contracts. ICE offers a range of contracts based on crude oil and refined products, natural gas, power and emissions. ICE conducts its futures markets through its regulated London-based subsidiary, ICE Futures, Europe’s leading energy exchange. ICE Futures offers liquid markets in the world’s leading oil benchmarks: Brent Crude futures and West Texas Intermediate (WTI) Crude futures, as well as the leading heating oil futures contract by traded volume. ICE introduced the concept of cleared OTC energy contracts and today offers the most liquid and transparent electronic OTC market in North America. ICE also offers a range of risk management and trading support services, including customized energy market data offerings through its ICE Data business unit and electronic trade confirmations. ICE was added to the Russell 1000® Index on June 30, 2006. Headquartered in Atlanta, ICE also has offices in Calgary, Chicago, Houston, London, New York and Singapore, with regional telecommunications hubs in Chicago, New York, London and Singapore. For more information, please visit www.theice.com.
