ATLANTA, April 4, 2011 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today reported record futures volume and average daily volume (ADV) for the first quarter of 2011. Futures ADV increased 24% in the first quarter of 2011, including year-over-year growth of 16% for the month of March 2011. ICE also achieved record average daily commissions (ADC) of $1.63 million in its OTC energy business during the first quarter of 2011, an increase of 19% from the prior first quarter.
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Global Futures Exchanges
ICE operates four regulated futures exchanges: ICE Futures Europe, ICE Futures U.S., ICE Futures Canada and the Chicago Climate Futures Exchange (CCFE).
-- March 2011 volume across all ICE futures exchanges increased 16% from
March 2010, to 34,371,954 contracts, the third consecutive monthly
volume record. ICE Futures Europe also established a third consecutive
monthly volume record of 24,280,517 contracts. ADV at ICE Futures Europe
was 1,055,675 contracts, an increase of 26% over March 2010. ADV at ICE
Futures U.S. declined 3% to 422,741 contracts.
-- First quarter 2011 ADV for all ICE futures contracts grew 24% from the
prior first quarter to a record 1,596,165 contracts, including record
ADV of 1,151,645 contracts at ICE Futures Europe. Volume across the
exchanges increased 26% to a record 98,962,267 contracts in the quarter.
Energy and Credit OTC Transaction Revenues
-- First quarter 2011 ADC for ICE's OTC energy business were a record $1.63
million, up 19% from the first quarter of 2010.
-- Revenues from ICE's credit default swap (CDS) trade execution,
processing and clearing totaled $39 million, down 9% from the first
quarter of 2010 and up 4% from the fourth quarter of 2010, including $13
million from CDS clearing.
Operating and Financial Guidance Update
-- ICE expects acquisition-related transaction costs for the three months
ended March 31, 2011 in the range of $3 million to $4 million. These
costs relate to external direct investment banking, legal, accounting
and tax transaction costs incurred for the potential acquisition of NYSE
Euronext, as well as costs incurred for other potential transactions and
strategic opportunities.
March 2011 Review
-- ICE Futures Europe records:
o The ICE Brent and Gasoil futures contracts established monthly volume
records of 11,120,576 and 6,638,953 contracts, respectively.
o The ICE U.K. National Balancing Point (NBP) Natural Gas futures
contract established monthly volume and ADV records of 695,410 and
30,235, respectively.
o The ICE Gasoil futures contract established a daily volume record of
523,053 contracts on March 16.
o The ECX EUA futures contract established a daily volume a record of
52,645 on March 16.
o The ICE U.K. NBP Natural Gas futures contract established a daily
volume record of 56,380 contracts on March 14.
-- ICE Futures U.S. records:
o USDX futures established a monthly record of 729,472 contracts.
o The Russell 1000 Value Index mini futures established a monthly record
of 11,833 contracts.
-- ICE Futures Europe announced the availability of its products in Brazil
following authorization by Brazilian financial regulator Comissao de
Valores Mobiliarios (CVM).
-- ICE announced the appointment of Senator Judd Gregg to the
IntercontinentalExchange Board of Directors.
-- Creditex introduced electronic trading for the most liquid CDX indexes
on March 7.
-- ICE Futures Europe announced the first trade of the ICE U.K. NBP Natural
Gas options contract on March 8.
-- ICE Futures Europe introduced the first Brent Crude cracks to
U.S.-refined products on March 14.
-- ICE announced the April 4 launch of 15 cleared OTC global oil products.
-- ICE extended its exclusive license for Russell® indexes, as well as an
expansion of the agreement to include international indexes.
-- ICE announced the April 18 introduction of clearing for freight and iron
ore swaps.
-- Through March 25, ICE's CDS clearing houses have cleared $16.7 trillion
in gross notional value on a cumulative basis across 453,238
transactions. ICE currently lists 276 CDS contracts for clearing.
o ICE Trust U.S. (ICE Trust) reached $10 trillion in gross notional
value cleared during the week ending March 25, including $708 billion
in single-name CDS, resulting in open interest of $552 billion. ICE
Trust offers clearing for 42 indexes and 99 single-name contracts.
o ICE Clear Europe has cleared euro 5.0 trillion ($6.7 trillion) of
gross notional value since inception, including euro 785 billion ($1
trillion) in single-name CDS, resulting in euro 497 billion ($702
billion) of open interest. ICE Clear Europe offers clearing for 34
indexes and 101 single-name contracts.
-- Trading days in March 2011:
o ICE Futures Europe: 23
o ICE Futures U.S.: 23
o ICE Futures Canada: 23
o Chicago Climate Futures Exchange: 23
ICE Futures Contracts & Markets Monthly ADV
ADV ADV ADV
March March % Change
Product Line 2011 2010
ICE Brent Crude futures & options 489,899 403,511 21.4
ICE Gasoil futures & options 290,301 222,482 30.5
ICE WTI Crude futures & options 204,367 172,862 18.2
ICE ECX emissions futures & options 33,371 20,715 61.1
Other futures contracts (1) 37,737 20,082 87.9
TOTAL ICE FUTURES EUROPE 1,055,675 839,652 25.7
Index futures & options (2) 187,284 165,758 13.0
Sugar No. 11 futures & options 103,473 167,309 -38.2
Other agricultural commodity contracts (3) 90,985 64,649 40.7
Currency futures and options contracts (4) 40,999 36,814 11.4
TOTAL ICE FUTURES U.S. 422,741 434,530 -2.7
TOTAL ICE FUTURES CANADA & CCFE(5) 16,017 12,548 27.6
TOTAL FUTURES CONTRACTS 1,494,433 1,286,730 16.1
(1) "Other futures contracts" include ICE UK Natural Gas futures; ICE Coal
futures; ICE Dutch TTF and German Natural Gas futures; ICE UK Electricity
futures; ICE Heating Oil futures; and ICE Unleaded Gasoline Blendstock
(RBOB) futures
(2) "Index futures & options" includes Russell 2000® mini futures and
options and futures for the Russell 1000® mini, the Continuous Commodity
Index, the Euro Index and the NYSE Composite.
(3) "Other agricultural commodity contracts" include futures and/or options
for Cocoa, Coffee "C", Cotton No. 2, Orange Juice, Sugar No. 14 and Sugar
No. 16.
(4) "Currency futures and options" include futures and options for the U.S.
Dollar Index and foreign exchange.
(5) ICE acquired Chicago Climate Futures Exchange (CCFE) on July 8, 2010.
Prior-year amounts do not include CCFE volume and percentage change does not
include CCFE prior-year volume.
ICE Futures First Quarter ADV
1Q2011 1Q2010 Percent Change
ICE Futures Europe 1,151,645 847,540 35.9
ICE Futures U.S. 424,331 427,281 -0.7
ICE Futures Canada & CCFE* 20,189 14,339 40.8
Total Futures 1,596,165 1,289,160 23.8
ICE Futures Monthly and Quarterly Volume
March 2011 March 2010 Percent Change
ICE Futures Europe 24,280,517 19,311,987 25.7
ICE Futures U.S. 9,723,050 9,994,181 -2.7
ICE Futures Canada & CCFE* 368,387 288,608 27.6
Total Futures 34,371,954 29,594,776 16.1
1Q2011 1Q2010 Percent Change
ICE Futures Europe 71,402,007 51,699,916 38.1
ICE Futures U.S. 26,308,504 26,064,120 0.9
ICE Futures Canada & CCFE* 1,251,756 888,999 40.8
Total Futures 98,962,267 78,653,035 25.8
*ICE acquired CCFE on July 8, 2010. Prior-year amounts do not include CCFE
volume and percentage change does not include CCFE prior-year volume.
ICE Futures Open Interest
March 31, 2011 December 31, 2010
ICE Futures Europe 3,904,407 3,329,205
ICE Futures U.S. 3,095,151 3,325,618
ICE Futures Canada & CCFE 270,036 283,246
Rolling Three-Month Average Rate per Contract (RPC)
Three Months Three Months Three Months
Ending Ending Ending
Product Line March 2011 February 2011 January 2011
ICE Futures Europe $1.55 $1.50 $1.53
ICE Futures U.S. Ag $2.15 $2.08 $2.06
ICE Futures U.S. Fin $1.03 $1.00 $0.94
RPC is calculated by dividing transaction revenues by contract volume, and
may vary based on pricing, customer and product mix.
ICE OTC Transaction & Clearing Revenues
1Q2011 4Q2010 3Q2010
OTC Energy ADC $1.63 million $1.33 million $1.36 million
CDS Execution & Clearing $39 million $38 million $42 million
Historical futures volume and OTC commission data can be found at:
http://ir.theice.com/supplemental.cfm
About IntercontinentalExchange
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries. www.theice.com
The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE Futures Canada, ICE Futures Europe, ICE Futures U.S., ICE Trust, ICE Clear Europe, U.S. Dollar Index, European Climate Exchange (ECX) and Chicago Climate Futures Exchange (CCFE). All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2010, as filed with the SEC on February 9, 2011.
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SOURCE IntercontinentalExchange