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IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace, today reported record activity during the month of September. Average daily volume (ADV) for ICE Futures, its London-based regulated futures subsidiary, totaled 447,795 contracts, an increase of 135.6% over September 2005. Average daily commissions in ICE’s over-the-counter (OTC) business segment in September rose 115.8% over September 2005, to $805,681.
For the third quarter of 2006, futures volume totaled 26.8 million contracts, an increase of 125.1% over the third quarter of 2005, and ADV was 412,993, representing a 125.1% increase over the same period in the prior year. In the OTC segment, third quarter average daily commissions were $737,967, a 95.3% increase over the third quarter of 2005.
Futures Business Segment
At ICE Futures, September 2006 ADV rose 135.6% to 447,795 contracts compared to ADV of 190,066 contracts in September 2005. September ADV marked the ninth consecutive record month for ICE Futures, surpassing the previous ADV record set in August 2006 of 406,037 contracts by 10.3%. Total monthly futures volume in September rose 124.9% to a record 9,403,702 contracts, compared to total monthly volume of 4,181,450 contracts in September 2005. At September 30, 2006, total open interest in ICE Futures contracts stood at 1,238,541 contracts, compared to 648,585 at December 31, 2005.
ICE Brent Crude futures monthly volume totaled 3,870,283 contracts, and ADV was a record 184,299 contracts, an increase of 39.5% compared to September 2005.
The ICE WTI Crude futures contract established a monthly volume record in September of 3,523,660 contracts and a new ADV record of 167,793 contracts, an increase of 16.7% over the previous ADV record set in August 2006.
ICE Gas Oil futures monthly volume totaled 1,849,013 contracts, and ADV was a record 88,048 contracts, an increase of 61.0% compared to September 2005.
| Contract |
Total Volume Sep 2006
|
Total Volume Sep 2005
|
Volume % Change
|
ADV Sep 2006
|
ADV Sep 2005
|
ADV % Change
|
| ICE Brent Crude futures | 3,870,283 | 2,907,004 | 33.1 | 184,299 | 132,137 | 39.5 |
| ICE WTI Crude futures | 3,523,660 | n/a | -- | 167,793 | n/a | -- |
| ICE GasOil futures | 1,849,013 | 1,203,422 | 53.6 | 88,048 | 54,701 | 61.0 |
| Other contracts* | 160,746 | 71,024 | 126.3 | 7,655 | 3,228 | 137.1 |
| Total ICE Futures | 9,403,702 | 4,181,450 | 124.9 | 447,795 | 190,066 | 135.6 |
* “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 September 2006, ICE’s average daily commissions increased 115.8% to $805,681 from $373,358 in September 2005. The increase in average daily commission was driven in part by ICE’s new and existing cleared OTC contracts, new participants, and continued price volatility in energy commodities.
|
Sep 2006
|
Sep 2005
|
% Change
|
|
| ICE OTC Average Daily Commissions |
$805,681
|
$373,358
|
115.8%
|
Additional September Highlights:
- On September 14, ICE announced it has entered into a definitive agreement to acquire the New York Board of Trade (NYBOT) in a cash and stock transaction.
- For the fourth consecutive month, ICE Futures averaged greater than 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 255,159 contracts on September 12.
- The ICE WTI Crude futures contract established a new daily volume record of 243,685 contracts on September 12 and an open interest record of 374,861 contracts on September 13.
- The ICE Gas Oil futures contract set a new daily volume record on September 13 at 148,940 contracts, and an open interest record of 298,847 contracts on September 28.
- ICE Futures reached a daily exchange-wide volume record of 640,599 contracts on September 12 and an open interest record of 1,278,483 on September 28.
Historical futures volume and OTC commission data can be found at: https://www.theice.com/marketdata/recordsAndVolumes/volumes2006.jsp
