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Last updated on April 20, 2014 at 21:20 EDT

ICE Reports Record Futures Volume in 2012 on 10% ADV Growth

January 3, 2013

ATLANTA, Jan. 3, 2013 /PRNewswire/ — IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, today reported futures volume for December 2012, the fourth quarter of 2012 and the full year 2012. ICE’s December 2012 and fourth quarter of 2012 average daily volume (ADV) increased 1% and declined 1% compared to December 2011 and the fourth quarter of 2011, respectively. Total contract volume in 2012 reached 847 million contracts, up 10% from 2011. All prior period contract volumes have been adjusted to include the converted futures contracts, which previously traded as swaps in ICE’s OTC markets.

Credit Transaction Revenues

  • Fourth quarter revenues from ICE’s credit default swap (CDS) trade execution, processing and clearing business totaled $36 million, compared to $41 million in the prior fourth quarter, and included $19 million in CDS clearing revenues.
  • For 2012, total CDS revenues were $144 million compared to $167 million in 2011.

December 2012 Review

                                               ICE Futures Contracts & Markets ADV
                                               -----------------------------------
    Product Line (Futures & Options) ADV                        ADV                   ADV            ADV               ADV               ADV
                                     Dec                        Dec                % Change       Full Year         Full Year         % Change
                                              2012                        2011                                 2012              2011
    ---                                       ----                        ----                                 ----              ----
    ICE Brent                              458,839                     382,268               20.0           620,373           532,731           16.5
    ---------                              -------                     -------               ----           -------           -------           ----
    ICE Gasoil                             166,763                     190,253              -12.3           254,691           262,705           -3.1
    ----------                             -------                     -------              -----           -------           -------           ----
    ICE Other Oil (1)*                     174,037                     145,189               19.9           204,965           245,993          -16.7
    -----------------                      -------                     -------               ----           -------           -------          -----
       ICE OIL                             799,639                     717,710               11.4         1,080,029         1,041,429            3.7
       -------                             -------                     -------               ----         ---------         ---------            ---
    ICE Natural Gas*                     1,030,241                   1,324,889              -22.2         1,448,878         1,294,964           11.9
    ---------------                      ---------                   ---------              -----         ---------         ---------           ----
    ICE Power*                             496,306                     269,550               84.1           379,002           248,138           52.7
    ---------                              -------                     -------               ----           -------           -------           ----
    ICE Emissions & Other (2)               49,127                      34,946               40.6            41,876            34,718           20.6
    ------------------------                ------                      ------               ----            ------            ------           ----
       TOTAL ENERGY                      2,375,313                   2,347,095                1.2         2,949,786         2,619,250           12.6
       ------------                      ---------                   ---------                ---         ---------         ---------           ----
    ICE Sugar                               86,715                      72,029               20.4           128,238           124,820            2.7
    ---------                               ------                      ------               ----           -------           -------            ---
    ICE Other Ags (3)                       88,702                      75,977               16.7           119,355           107,463           11.1
    ----------------                        ------                      ------               ----           -------           -------           ----
       TOTAL AGRICULTURAL                  175,417                     148,006               18.5           247,593           232,283            6.6
       ------------------                  -------                     -------               ----           -------           -------            ---
    ICE Equity Index (4)                   136,616                     173,092              -21.1           133,564           176,267          -24.2
    -------------------                    -------                     -------              -----           -------           -------          -----
    ICE FX (5)                              33,146                      32,313                2.6            29,443            36,288          -18.9
    ---------                               ------                      ------                ---            ------            ------          -----
       TOTAL FINANCIALS                    169,762                     205,405              -17.4           163,007           212,555          -23.3
       ----------------                    -------                     -------              -----           -------           -------          -----
       TOTAL FUTURES & OPTIONS           2,720,492                   2,700,506                0.7         3,360,386         3,064,088            9.7
       -----------------------           ---------                   ---------                ---         ---------         ---------            ---

Note: Figures may not foot due to rounding.
(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®, and the Continuous Commodity Index.
(5) “ICE FX” includes the U.S. Dollar Index and foreign exchange.
*Historical volume has been adjusted to include transitioned energy futures contracts.

                                              ICE Futures Fourth Quarter ADV and Total Volume
                                              -----------------------------------------------
    Futures & Options Products
                                ADV                      ADV                      Percent          Volume             Volume             Percent
                               4Q12                     4Q11                       Change           4Q12               4Q11               Change
    ---                        ----                     ----                       ------           ----               ----               ------
    Energy*                         2,774,918                 2,754,468                        0.7        177,594,762        173,531,512           2.3
    ------                          ---------                 ---------                        ---        -----------        -----------           ---
    Agricultural                      203,933                   179,919                       13.3         13,012,880         11,294,551          15.2
    ------------                      -------                   -------                       ----         ----------         ----------          ----
    Financials                        142,155                   205,888                      -31.0          9,097,919         12,970,916         -29.9
    ----------                        -------                   -------                      -----          ---------         ----------         -----
    TOTAL CONTRACTS                 3,121,006                 3,140,275                       -0.6        199,705,561        197,796,979           1.0
    ---------------                 ---------                 ---------                       ----        -----------        -----------           ---

*Historical energy volume has been adjusted to include transitioned energy futures contracts.

                                                                   ICE Futures Monthly and YTD Volume
                                                                   ----------------------------------
                    Futures & Options Products
                                               December               December                      Percent       Full Year            Full Year            Percent
                                                              2012                   2011            Change                       2012                 2011  Change
    ---                                                       ----                   ----            ------                       ----                 ----  ------
    Energy*                                             47,506,257             49,288,994                    -3.6          743,345,947          660,051,036          12.6
    ------                                              ----------             ----------                    ----          -----------          -----------          ----
    Agricultural                                         3,487,287              3,087,463                    12.9           62,353,085           58,478,008           6.6
    ------------                                         ---------              ---------                    ----           ----------           ----------           ---
    Financials                                           3,395,244              4,313,499                   -21.3           41,077,838           53,563,960         -23.3
    ----------                                           ---------              ---------                   -----           ----------           ----------         -----
    TOTAL CONTRACTS                                     54,388,788             56,689,956                    -4.1          846,776,870          772,093,004           9.7
    ---------------                                     ----------             ----------                    ----          -----------          -----------           ---

*Historical energy volume has been adjusted to include transitioned energy futures contracts.

                         Rolling Three-Month Average Rate per Contract (RPC)
                         --------------------------------------------------
                              Three Months                    Three Months         Three Months
               Futures &
                 Options
                Products         Ending                          Ending               Ending
                              December 2012                   November 2012        October 2012
    ---                       -------------                   -------------        ------------
    Energy*                                   $1.07                          $1.08              $1.08
    ------                                    -----                          -----              -----
    Agricultural*                             $2.47                          $2.43              $2.40
    ------------                              -----                          -----              -----
    Financials                                $1.00                          $1.01              $1.01
    ----------                                -----                          -----              -----

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

                 ICE Futures & Options Open Interest
                 -----------------------------------
                  December 31, 2012               December 31, 2011
                  -----------------               -----------------
    Energy*                           70,108,837                    53,518,772
    ------                            ----------                    ----------
    Agricultural                       2,502,583                     2,292,279
    ------------                       ---------                     ---------
    Financials                           463,058                       531,162
    ----------                           -------                       -------

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

  • Through December 31, ICE’s CDS clearing houses have cleared $36 trillion in gross notional value on a cumulative basis across 1.1 million trades. ICE Clear Credit has cleared $2.1 trillion in single-name CDS resulting in open interest of $842 billion. ICE Clear Europe has cleared EUR1.6 trillion ($2.1 trillion) in single-name CDS resulting in EUR568 billion ($750 billion) of open interest. ICE lists 381 CDS instruments for clearing. A complete summary of CDS clearing can be found at: https://www.theice.com/clear_credit.jhtml
  • Trading days in December 2012

    • ICE Futures Europe & U.S: 20
    • ICE Futures Canada: 19

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 exchanges and clearing houses serving the risk management needs of global markets for agricultural, credit, currency, emissions, energy and equity index products. 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 Europe, ICE Clear Europe, ICE Clear Canada, ICE Clear US, ICE Futures U.S., and ICE OTC. 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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