ICE Reports 14% Increase in Futures Average Daily Volume for July; CDS Gross Notional Cleared Has Doubled in One Year

Aug 02, 2011, 08:30 ET from IntercontinentalExchange

ATLANTA, Aug. 2, 2011 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, reported volume for July 2011. Average daily volume (ADV) for ICE's futures markets was 1,306,105 contracts, an increase of 14% from July 2010. Year-to-date through July 31, ADV across ICE's futures exchanges was 1,499,450 contracts, an increase of 14% compared to the first seven months of 2010. Total futures volume in July 2011 was 26.1 million contracts, up 8% from July 2010.

July 2011 Review

  • ICE Futures Europe records:
    • The exchange established an open interest record of 4,136,034 contracts on July 29.
    • ICE Heating Oil futures and ICE WTI options established daily volume records of 12,074 and 11,355 contracts, respectively.
    • Open interest records were established for WTI and Brent Crude options, as well as U.K. Natural Gas futures and options and Rotterdam Coal futures and options.
  • ICE launched 18 new cleared OTC energy contracts on August 1.
  • ICE announced the introduction of the Creditex odd lot corporate debt auction platform.
  • On July 14, ICE announced its strategic investment in Cetip, Brazil's largest clearing house.
  • On July 16, ICE's North American CDS clearing house transitioned to a CFTC-regulated Derivatives Clearing Organization (DCO) and SEC-regulated Securities Clearing Agency (SCA), as required by Dodd-Frank, and changed its name from ICE Trust U.S. to ICE Clear Credit.
  • Through July 29, ICE's CDS clearing houses have cleared over $20 trillion in gross notional value on a cumulative basis across 582,286 transactions. ICE's CDS clearing houses reached $10 trillion cleared in July 2010. ICE currently lists 323 CDS contracts for clearing.
    • ICE Clear Credit reached $12.2 trillion in gross notional value cleared as of July 29, including $1.0 trillion in single-name CDS, resulting in open interest of $738 billion. ICE Clear Credit offers clearing for 40 indexes and 128 single-name contracts.
    • ICE Clear Europe has cleared euro 6.2 trillion ($8.5 trillion) of gross notional value since inception, including euro 969 billion ($1.3 trillion) in single-name CDS, resulting in euro 544 billion ($780 billion) of open interest. ICE Clear Europe offers clearing for 34 indexes and 121 single-name contracts.
  • Trading days in July 2011:
    • ICE Futures Europe: 20
    • ICE Futures U.S.: 20
    • ICE Futures Canada: 20
    • Chicago Climate Futures Exchange: 20

ICE Futures Contracts & Markets Monthly ADV

Product Line

ADV

July

2011

ADV

July

2010

ADV

% Change

ICE Brent Crude futures & options

455,038

349,930

30.0

ICE Gasoil futures & options

213,702

194,716

9.8

ICE WTI Crude futures & options

164,384

163,666

0.4

ICE ECX emissions futures & options

33,639

24,949

34.8

Other futures contracts (1)

38,064

27,504

38.4

TOTAL ICE FUTURES EUROPE

904,827

760,765

18.9

Index futures & options (2)

154,469

169,998

-9.1

Sugar No. 11 futures & options

122,559

116,284

5.4

Other agricultural commodity contracts (3)

75,470

68,721

9.8

Currency futures and options contracts (4)

34,772

23,075

50.7

TOTAL ICE FUTURES U.S.

387,270

378,078

2.4

TOTAL ICE FUTURES CANADA & CCFE(5)

14,008

11,383

23.1

TOTAL FUTURES CONTRACTS

1,306,105

1,150,226

13.6

(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; and ICE Unleaded Gasoline Blendstock (RBOB) futures.

(2) "Index futures & options" include 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 and Sugar No. 16.

(4) "Currency futures and options" include futures and options for the U.S. Dollar Index and foreign exchange.

CE Futures Year-to-Date ADV

7-mos 2011

7-mos 2010

Percent Change

ICE Futures Europe

1,056,400

864,619

22.2

ICE Futures U.S.

424,090

433,338

-2.1

ICE Futures Canada & CCFE*

18,960

15,931

19.0

Total Futures

1,499,450

1,313,888

14.1

ICE Futures Monthly and Year-to-Date Volume

July 2011

July 2010

Percent Change

ICE Futures Europe

18,096,536

15,976,074

13.3

ICE Futures U.S.

7,745,409

7,939,645

-2.4

ICE Futures Canada & CCFE*

280,152

239,056

17.2

Total Futures

26,122,097

24,154,775

8.1

7-mos 2011

7-mos 2010

Percent Change

ICE Futures Europe

153,177,982

125,369,792

22.2

ICE Futures U.S.

61,493,040

62,834,048

-2.1

ICE Futures Canada & CCFE*

2,749,194

2,325,713

18.2

Total Futures

217,420,216

190,529,553

14.1

ICE Futures Open Interest

July 31, 2011

December 31, 2010

ICE Futures Europe

4,136,034

3,329,205

ICE Futures U.S.

3,078,277

3,325,618

ICE Futures Canada & CCFE*

235,168 (July 28)

283,246

Rolling Three-Month Average Rate per Contract (RPC)

Product Line

Three Months Ending

July 2011

Three Months Ending

June 2011

Three Months Ending

May 2011

ICE Futures Europe

$1.58

$1.57

$1.59

ICE Futures U.S. Ag

$2.39

$2.38

$2.34

ICE Futures U.S. Fin

$0.97

$0.96

$0.98

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, ICE, ICE and block design, ICE Futures Canada, ICE Futures Europe, ICE Futures U.S., ICE Trust, ICE Clear Europe, 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, 2010 and ICE's Quarterly Report on Form 10-Q for the quarter ended March 31, 2011, as filed with the SEC on February 9, 2011 and May 4, 2011, respectively.

ICE-CORP

SOURCE IntercontinentalExchange



RELATED LINKS

http://www.theice.com