ICE Reports Record Second Quarter Futures Volume, ADV and OTC Commissions; $9.9 Trillion Cleared in CDS

ATLANTA, July 2 /PRNewswire-FirstCall/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today reported record futures volume and average daily volume (ADV) for the second quarter of 2010. Futures ADV increased 36% in the second quarter of 2010, including year-over-year growth of 24% for the month of June 2010. ICE also achieved record average daily commissions (ADC) of $1.43 million in its OTC energy business during the second quarter of 2010, up 26% 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.

• ADV across all three ICE futures exchanges was a record 1,348,615 contracts in June, up 24% from June 2009.  ADV at ICE Futures Europe increased 32% to 831,487 contracts, ADV at ICE Futures U.S. grew 11% to a record 492,636 contracts, and ADV at ICE Futures Canada increased 61% to a record 24,492 contracts, compared to June 2009.
• Second quarter 2010 ADV for all ICE futures contracts grew 36% from the prior second quarter, to a record 1,392,397 contracts. ICE Futures Europe and ICE Futures U.S. established quarterly ADV records of 915,775 and 457,624 contracts, respectively.
• ADV for the first half of 2010 for all ICE Futures contracts was 1,341,591 contracts, up 32% over the same period of 2009.

Energy and Credit OTC Transaction Revenues

• Second quarter 2010 ADC for ICE's OTC energy business were a record $1.43 million, up 26% from the second quarter of 2009, and an increase of 4% sequentially from the first quarter of 2010.
• Quarterly revenues from ICE's credit default swap (CDS) trade execution, processing and clearing operations totaled $43 million, down 3% from the prior second quarter but in line with first quarter 2010 revenues. CDS clearing revenues were approximately $16 million in the second quarter of 2010, compared to $11.5 million in the first quarter of 2010.

Operating and Financial Guidance Update

• As a result of ICE's strong performance through June and its projected achievement of 105% to 110% of its board-approved budget for full year 2010, ICE now expects 2010 non-cash compensation expense to total $50 million to $55 million, including $14 million in the second quarter. Total quarterly compensation expense beginning in the second quarter of 2010 is anticipated be in the range of $60 million to $62 million.
• ICE expects to complete its acquisition of the Climate Exchange in the month of July, and will provide further guidance in conjunction with its second quarter earnings announcement on Wednesday, August 4, at 8:30 a.m. ET.

June and Second Quarter 2010 Review

• Total ICE futures volumes in both June 2010 and the second quarter of 2010 reached record levels. June volume across all futures exchanges totaled 29,669,542 contracts, an increase of 24% over June 2009, and second quarter volumes totaled 87,720,971, up 36% over the second quarter of 2009.
• ICE Futures Europe records:
  • An overall exchange open interest record was established in June, including open interest records for emissions and ICE TTF Natural Gas futures contracts.
• ICE Futures U.S. records:
  • In addition to the exchange-wide volume and ADV records established in June at ICE Futures U.S., the ICE Coffee "C" futures contract set a monthly volume record of 791,873 contracts, including a daily volume record of 110,952 contracts on June 11.
• ICE Futures Canada records:
  • An exchange-wide volume record of 538,830 contracts was achieved at ICE Futures Canada for the month of June, including a daily volume record in canola futures of 49,395 contracts on June 9.
• On June 3, ICE announced that ICE Trust had cleared more than $1.2 billion in cumulative gross notional value for buy-side customers. ICE also announced that Nomura was approved as a clearing member of ICE Trust. Nomura is the 14th clearing member of ICE Trust and the first headquartered in Asia.
• Through June 25, ICE's CDS clearing houses have cleared $9.9 trillion in gross notional value on a cumulative basis on 219,242 transactions. ICE currently lists 233 CDS contracts for clearing.
  • ICE Trust U.S. (ICE Trust) has cleared $6.2 trillion of gross notional value since inception, including $258 billion in single-name CDS, resulting in open interest of $428 billion. ICE Trust offers clearing for 35 indexes and 71 single-name instruments.
  • ICE Clear Europe has cleared euro 2.7 trillion ($3.7 trillion) of gross notional value since inception, including euro 365 billion in single-name CDS, resulting in euro 364 billion ($447 billion) of open interest. ICE Clear Europe offers clearing for 26 indexes and 101 single-name instruments.
• Trading days in June 2010:
  • ICE Futures Europe: 22
  • ICE Futures U.S.: 22
  • ICE Futures Canada: 22

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 55 countries. www.theice.com ICE-CORP

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 Trust, 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, 2009, as filed with the SEC on February 10, 2010.

SOURCE IntercontinentalExchange