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

November 5, 2012

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           ADV              ADV           ADV              ADV               ADV
                               Oct           Oct           % Change       YTD Oct          YTD Oct          % Change
                                        2012          2011                            2012             2011
    ---                                 ----          ----                            ----             ----
    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            October            Percent       YTD Oct             YTD Oct             Percent
                                             2012               2011 Change                       2012                2011 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        Three Months        Three Months
                            Ending              Ending              Ending
                         October 2012       September 2012        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 EUR1.5 trillion ($2.0 trillion) in single-name CDS resulting in EUR549 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.

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SOURCE IntercontinentalExchange


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