NEW YORK, Nov. 11, 2010 /PRNewswire-FirstCall/ -- ICE Futures U.S., a leading regulated U.S. futures exchange for global agricultural, equity index and currency markets, announced a new daily volume record for the Cotton No. 2 futures contract. 101,516 Cotton No. 2 futures contracts traded on the exchange on Wednesday, November 10, surpassing the previous record of 85,945 lots established on February 15, 2008.
Year-to-date, average daily volume in Cotton No. 2 futures is 22,288 contracts, up more than 58% from a year ago. Volume in the ICE soft commodities complex, which includes world benchmark contracts like sugar, coffee, cocoa, and cotton, is up more than 15% year-to-date through the end of October, reflecting increasing global demand for commodities.
The ICE Futures U.S. Cotton No. 2 futures contract is the leading benchmark for the global cotton trade, pricing physical delivery of U.S.-grown cotton to U.S. delivery points. The United States is the world's third-largest producer of cotton (behind China and India) and its largest cotton exporter.
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
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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, 2009, as filed with the SEC on February 10, 2010.