Market Overview

ICE Reports 2% Increase in October Futures Volume; Over $35 Trillion of CDS Cleared to date

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ATLANTA, Nov. 5, 2012 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, today reported futures volume for October 2012. ICE's average daily volume (ADV) for futures and options was 3,398,912 contracts, an increase of 2% from the prior October. Year-to-date through October 31, ADV rose 12% to 3,437,174 contracts, compared to the first ten months of 2011. Total contract volume in October 2012 increased 11% compared to the prior October, to 78.2 million contracts. All prior period contract volumes have been adjusted to include the converted futures contracts, which previously traded in ICE's OTC markets.

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October 2012 Review

  • ICE announced the development of new CDS index futures and options contracts with a license agreement for Markit's CDS indexes, with an expected launch in 1Q13.
  • ICE successfully completed its transition of cleared energy swaps to futures contracts as of the October 15 trade date. ICE's swap data repository, Trade Vault, also began processing CDS trades.
  • ICE and Triana announced an agreement to process OTC FX via ICE Link, ICE's market leading middleware service.
  • The CFTC approved ICE Clear Europe's request for a 4d(a) order which allows the continued portfolio margining offsets for energy customers when holding both U.S energy futures and foreign energy futures in an ICE account.

Adjusted ICE Futures Contracts & Markets ADV

Product Line (Futures & Options)

ADV

Oct

2012

ADV

Oct

2011

ADV

% Change

ADV

YTD Oct

2012

ADV

YTD Oct

2011

ADV

% Change

ICE Brent

614,954

606,199

1.4

637,448

540,323

18.0

ICE Gasoil

297,857

318,852

-6.6

264,863

267,853

-1.1

ICE Other Oil (1)*

210,239

248,404

-15.4

207,175

255,596

-18.9

   ICE OIL

1,123,050

1,173,455

-4.3

1,109,486

1,063,772

4.3

ICE Natural Gas*

1,385,075

1,488,761

-7.0

1,517,164

1,267,293

19.7

ICE Power*

510,284

232,552

119.4

349,488

245,232

42.5

ICE Emissions & Other (2)

48,232

36,348

32.7

39,426

33,575

17.4

   TOTAL ENERGY

3,066,641

2,931,116

4.6

3,015,564

2,609,872

15.5

ICE Sugar

92,863

86,776

7.0

135,693

134,187

1.1

ICE Other Ags (3)

120,925

104,122

16.1

121,438

109,660

10.7

   TOTAL AGRICULTURAL

213,788

190,898

12.0

257,131

243,847

5.4

ICE Equity Index (4)

98,241

185,848

-47.1

134,939

178,151

-24.3

ICE FX (5)

20,242

35,330

-42.7

29,540

37,267

-20.7

   TOTAL FINANCIALS

118,483

221,178

-46.4

164,479

215,418

-23.6

   TOTAL FUTURES & OPTIONS

3,398,912

3,343,192

1.7

3,437,174

3,069,137

12.0

(1) "ICE Other Oil" includes futurized oil contracts, WTI, Heating Oil, RBOB Gasoline and Middle East Sour Crude. Excludes Daily Brent Bullet contracts.

(2) "ICE Emissions & Other" includes all emissions contracts, freight, coal and iron ore and uranium.

(3) "ICE Other Ags" includes Cocoa, Coffee "C", Cotton No. 2, Orange Juice, Corn, Wheat, Soybeans, Barley and Canola.

(4) "ICE Equity Index" includes the Russell 2000®, Russell 1000®, the Continuous Commodity Index

(5) "ICE FX" includes futures and options for the U.S. Dollar Index and foreign exchange.

*Historical volume has been adjusted to include new energy futures contracts

Adjusted ICE Futures Monthly and YTD Volume

Futures & Options Products

 

October

2012

 

October

2011

 

Percent

Change

 

YTD Oct

2012

 

YTD Oct

2011

 

Percent

Change

Energy*

70,532,752

61,553,423

14.6

636,283,937

548,072,947

16.1

Agricultural

4,893,760

3,986,290

22.8

54,233,965

51,169,747

6.0

Financials

2,725,097

4,644,740

-41.3

34,705,016

45,237,784

-23.3

TOTAL CONTRACTS

78,151,609

70,184,453

11.4

725,222,918

644,480,478

12.5

*Historical energy volume has been adjusted to include new energy futures contracts

Adjusted Rolling Three-Month Average Rate per Contract (RPC)

Futures & Options Products

Three Months

Ending

October 2012

Three Months

Ending

September 2012

Three Months

Ending

August 2012

Energy*

$1.08

$1.11

$1.11

Agricultural*

$2.40

$2.40

$2.47

Financials

$1.01

$1.00

$0.96

*Historical energy RPC has been adjusted to include new energy futures contracts and agricultural RPC has been adjusted to include Canadian contracts

Adjusted ICE Futures & Options Open Interest


October 31, 2012

December 31, 2011

Energy*

70,002,298

53,518,772

Agricultural

2,737,892

2,292,279

Financials

481,443

531,162

*Historical energy open interest has been updated to include new energy futures contracts

  • Through October 31, ICE's CDS clearing houses have cleared $35 trillion in gross notional value on a cumulative basis across 1.08 million trades. ICE Clear Credit has cleared $2.0 trillion in single-name CDS resulting in open interest of $845 billion. ICE Clear Europe has cleared €1.5 trillion ($2.0 trillion) in single-name CDS resulting in €549 billion ($712 billion) of open interest. ICE lists 372 CDS instruments for clearing. A complete summary of CDS clearing can be found at: https://www.theice.com/clear_credit.jhtml
  • Trading days in October 2012
    • ICE Futures Europe & U.S: 23
    • ICE Futures Canada: 22

Note: As of October 15, 2012, ICE transitioned all of the open interest in OTC cleared energy swaps contracts to futures contracts. All futures volumes in the tables above have been adjusted to treat, on a pro forma basis, the OTC cleared energy swaps contracts as futures contracts for all periods prior to October 2012.

RPC is calculated by dividing transaction revenues by contract volume, and may vary based on pricing, customer and product mix.

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, IntercontinentalExchange & Design, ICE, ICE and block design, ICE Futures Canada, ICE Futures Europe, ICE Futures U.S., ICE Clear Credit, ICE Clear Europe, ICE Clear U.S., ICE Clear Canada, The Clearing Corporation, U.S. Dollar Index, ICE Link and Creditex. 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, 2011, as filed with the SEC on February 8, 2012 and ICE's Quarterly Reports on Form 10-Q for the quarter ended June 30, 2012, as filed with the SEC on August 1, 2012, and the quarter ended September 30, 2012, as filed with the SEC on November 5, 2012.  

ICE-CORP

SOURCE IntercontinentalExchange

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