ICE Reports Record Second Quarter Futures ADV, up 11%; Second Quarter OTC Energy ADC of $1.58MM, up 3%; Record June ADV, up 7%
ATLANTA, July 3, 2012 /PRNewswire/ — IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today reported activity for June and the second quarter of 2012. ICE’s futures average daily volume (ADV) increased 11% in the second quarter of 2012 over the prior year. ADV for June 2012 was a record 1,795,342 contract, up 7% from the prior June. ICE’s second quarter OTC energy average daily commissions (ADC) were $1.58 million, up 3% from the prior second quarter.
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Global Futures Exchanges
ICE operates three regulated futures exchanges: ICE Futures Europe, ICE Futures U.S. and ICE Futures Canada.
- June 2012 volume across ICE’s futures exchanges increased 3% from June 2011, to 37,702,199 contracts. ICE Futures Europe ADV was 1,224,942 contracts, up 9% over June 2011. ICE Futures U.S. ADV grew 5% over the prior June to a record 550,629 contracts.
- Second quarter 2012 ADV for all ICE futures contracts grew 11% from the prior second quarter to a record 1,626,852 contracts. Volume at ICE Futures Europe was a record 72,069,984 contracts and ADV at the exchange was 1,143,968 contracts. Total volume across all exchanges increased 11% to a record 102,491,710 contracts.
- ADV for the first half of 2012 for all ICE futures contracts was 1,591,482 contracts, up 4% compared to the first half of 2011.
Energy and Credit OTC Transaction Revenues
- Second quarter 2012 ADC for ICE’s OTC energy business was $1.58 million, up 3% from the second quarter of 2011.
- Revenues from ICE’s credit default swap (CDS) trade execution, processing and clearing business totaled $36 million, down 12% from the second quarter of 2011, and included $15 million in CDS clearing revenues.
Operating and Financial Guidance Update
- ICE expects acquisition-related expenses to be approximately $4 million for the three months ended June 30, 2012.
June and Second Quarter 2012 Review
- ICE Futures Europe records:
- An open interest record of 5,956,137 contracts was established on June 8.
- ICE Brent Crude futures set monthly volume and ADV records of 15,052,437 and 716,783 contracts, respectively.
- ICE Heating Oil futures established total monthly volume and ADV records.
- During June, open interest records were established in the following contracts: Brent Crude options (1,213,475 contracts), Rotterdam Coal futures (93,014), Dutch TTF Gas futures (59,960), EUA Emissions futures (832,729), ERU Emissions futures (31,163) and Low Sulphur Gasoil futures (6,917).
- ICE Futures U.S. records:
- The exchange established a monthly ADV record of 550,629 contracts in June.
- A daily volume record of 851,852 contracts was established on June 12, with 801,304 futures contracts and 50,548 options on futures traded.
- The exchange established records for futures monthly volume and futures ADV of 10,609,027 and 505,192 contracts, respectively.
- Cocoa futures set a monthly volume record of 620,166 contracts and Coffee C options established an open interest record of 294,048 contracts.
- ICE announced management promotions on June 4.
- ICE Trade Vault became the first swap data repository to receive provisional registration from the Commodity Futures Trading Commission (CFTC) on June 28.
- Through June 29, ICE’s CDS clearing houses have cleared $32.1 trillion in gross notional value on a cumulative basis across 958,704 transactions. ICE lists 340 CDS instruments for clearing.
- ICE Clear Credit has cleared $18.6 trillion of gross notional value since inception, including $1.8 trillion in single-name CDS, resulting in open interest of $900 billion. ICE Clear Credit offers clearing for 43 indexes, 132 corporate single-names and four Latin American sovereign CDS.
- ICE Clear Europe has cleared euro 9.9 trillion ($13.5 trillion) of gross notional value since inception, including euro 1.4 trillion ($1.8 trillion) in single-name CDS, resulting in euro 604 billion ($764 billion) of open interest. ICE Clear Europe offers clearing for 40 indexes and 121 single-names.
- Trading days in June 2012:
- ICE Futures Europe: 21
- ICE Futures U.S.: 21
- ICE Futures Canada: 21
ICE Futures Contracts & Markets Monthly ADV
-------------------------------------------
Product Line ADV ADV ADV
June June % Change
2012 2011
--- ---- ----
ICE Brent Crude futures & options 754,616 600,829 25.6
--------------------------------- ------- ------- ----
ICE Gasoil futures & options 253,287 241,357 4.9
---------------------------- ------- ------- ---
ICE WTI Crude futures & options 135,517 209,666 -35.4
------------------------------- ------- ------- -----
ICE ECX emissions futures & options 30,679 37,819 -18.9
--------------------------------- ------ ------ -----
Other futures contracts (1) 50,843 33,816 50.4
-------------------------- ------ ------ ----
TOTAL ICE FUTURES EUROPE 1,224,942 1,123,487 9.0
------------------------ --------- --------- ---
Index futures & options (2) 190,354 209,244 -9.0
-------------------------- ------- ------- ----
Sugar No. 11 futures & options 183,903 173,826 5.8
------------------------------ ------- ------- ---
Other agricultural commodity contracts (3) 132,407 96,576 37.1
--------------------------------- ------- ------ ----
Currency futures and options contracts (4) 43,965 47,173 -6.8
--------------------------------- ------ ------ ----
TOTAL ICE FUTURES U.S. 550,629 526,819 4.5
---------------------- ------- ------- ---
TOTAL ICE FUTURES CANADA & CCFE 19,771 20,577 -3.9
------------------------------- ------ ------ ----
TOTAL FUTURES CONTRACTS 1,795,342 1,670,883 7.4
----------------------- --------- --------- ---
(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; ICE Unleaded Gasoline Blendstock (RBOB) futures; and Coal and Natural Gas options.
(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, Sugar No. 16, Corn, Wheat and Soybeans.
(4) “Currency futures and options” include futures and options for the U.S. Dollar Index and foreign exchange.
ICE Futures Second Quarter 2012 and Year-to-Date ADV
----------------------------------------------------
2Q2012 2Q2011 Percent Change
------ ------ --------------
ICE
Futures
Europe 1,143,968 1,010,785 13.2
------- --------- --------- ----
ICE
Futures
U.S. 461,479 435,542 6.0
------- ------- ------- ---
ICE
Futures
Canada
&
CCFE 21,405 19,364 10.5
------- ------ ------ ----
Total
Futures 1,626,852 1,465,691 11.0
------- --------- --------- ----
6-mos 2012 6-mos 2011 Percent Change
---------- ---------- --------------
ICE
Futures
Europe 1,132,380 1,080,652 4.8
------- --------- --------- ---
ICE
Futures
U.S. 436,060 429,981 1.4
------- ------- ------- ---
ICE
Futures
Canada
&
CCFE 23,042 19,752 16.7
------- ------ ------ ----
Total
Futures 1,591,482 1,530,385 4.0
------- --------- --------- ---
ICE Futures Monthly, Quarterly and Year-to-Date Volume
------------------------------------------------------
June 2012 June 2011 Percent Change
--------- --------- --------------
ICE
Futures
Europe 25,723,780 24,716,718 4.1
------- ---------- ---------- ---
ICE
Futures
U.S. 11,563,219 11,590,012 -0.2
------- ---------- ---------- ----
ICE
Futures
Canada
&
CCFE 415,200 452,702 -8.3
------- ------- ------- ----
Total
Futures 37,702,199 36,759,432 2.6
------- ---------- ---------- ---
2Q2012 2Q2011 Percent Change
------ ------ --------------
ICE
Futures
Europe 72,069,984 63,679,439 13.2
------- ---------- ---------- ----
ICE
Futures
U.S. 29,073,196 27,439,127 6.0
------- ---------- ---------- ---
ICE
Futures
Canada
&
CCFE 1,348,530 1,219,906 10.5
------- --------- --------- ----
Total
Futures 102,491,710 92,338,472 11.0
------- ----------- ---------- ----
6-mos 2012 6-mos 2011 Percent Change
---------- ---------- --------------
ICE
Futures
Europe 141,547,547 135,081,446 4.8
------- ----------- ----------- ---
ICE
Futures
U.S. 54,507,525 53,747,631 1.4
------- ---------- ---------- ---
ICE
Futures
Canada
&
CCFE 2,903,160 2,469,042 17.6
------- --------- --------- ----
Total
Futures 198,958,232 191,298,119 4.0
------- ----------- ----------- ---
ICE Futures Open Interest
-------------------------
June 30, 2012 December 31, 2011
------------- -----------------
ICE Futures Europe 5,934,229 3,905,986
------------------ --------- ---------
ICE Futures U.S. 2,793,206 2,680,454
---------------- --------- ---------
ICE Futures Canada &
CCFE 252,284 (Jun 28, 2012) 170,894
-------------------- --------------------- -------
Rolling Three-Month Average Rate per Contract (RPC)
--------------------------------------------------
Three Months Three Months Three Months
Product
Line Ending Ending Ending
June 2012 May 2012 April 2012
--- --------- -------- ----------
ICE
Futures
Europe $1.56 $1.55 $1.55
------- ----- ----- -----
ICE
Futures
U.S.
Ag $2.63 $2.58 $2.70
------- ----- ----- -----
ICE
Futures
U.S.
Fin $0.88 $0.91 $0.88
------- ----- ----- -----
ICE OTC Transaction & Clearing Revenues
---------------------------------------
2Q2012 1Q2012 4Q2011
------ ------ ------
OTC Energy
ADC $1.58 million $1.95 million $1.61 million
---------- ------------- ------------- -------------
CDS
Execution &
Clearing $36 million $40 million $41 million
------------ ----------- ----------- -----------
RPC is calculated by dividing transaction revenues by contract volume, and may vary based on pricing, customer and product mix.
Historical futures volume, rate per contract 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 Europe, ICE Clear Credit, 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, 2011, as filed with the SEC on February 8, 2012.
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