IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, reported strong volume growth for its futures business in the first month of 2010. Average daily volume (ADV) for ICE's futures markets was a record 1,211,286 contracts, an increase of 23% from January 2009. ICE Futures Europe established a monthly ADV record of 811,477 contracts, up 21% from the first month of 2009. Total futures volume in January 2010 was 23 million contracts.
January 2010 Review
- Since launch, ICE's credit default swaps (CDS) clearing houses have cleared over $5 trillion in gross notional value across nearly 74,000 transactions.
- ICE Trust U.S. has cleared $3.7 trillion of gross notional value, including $11 billion in single-name instruments, resulting in combined open interest of $246 billion.
- ICE Clear Europe has cleared euro 1.1 trillion ($1.5 trillion) of gross notional value, including euro 36 billion in single-name instruments, resulting in euro 119 billion ($165 billion) of combined open interest.
- ICE was named 2009 Derivatives Exchange of the Year in the January 2010 issue of Risk magazine.
- On January 11, ICE announced management changes at its Creditex brokerage business.
- On January 14, ICE issued a statement regarding the Commodity Futures Trading Commission's (CFTC) Meeting on Energy Position Limits and Hedge Exemptions.
- On January 25, ICE launched 23 new cleared OTC energy contracts, for a total of 310 natural gas, power, and refined oil products contracts.
- Also on January 25, ICE Clear Europe received Derivatives Clearing Organization (DCO) registration from the CFTC.
- Trading days in January 2010:
- ICE Futures Europe: 19
- ICE Futures U.S.: 19
- ICE Futures Canada: 20
- ICE Futures Europe records achieved in January 2010:
- The ICE Brent Crude futures contract established record monthly ADV of 374,588 and an open interest record of 817,977 contracts on January 12.
- The ICE Gasoil futures contract set new monthly records for total volume and ADV of 3,782,083 and199,057 contracts, respectively. ICE Gasoil futures also established an open interest record of 625,930 contracts on January 29.
- All three ICE coal futures contracts established volume, ADV and open interest records in January. The U.K. Natural Gas futures contract also established volume and ADV records in January.
ICE Futures Contracts & Markets Monthly ADV ADV ADV January January ADV Product Line 2010 2009 % Change ICE Brent Crude futures & options 375,790 313,004 20.1 ICE Gasoil futures & options 199,810 146,681 36.2 ICE WTI Crude futures & options 191,324 186,167 2.8 ICE ECX emissions futures & options (1) 21,917 13,715 59.8 Other futures contracts (2) 22,636 12,583 79.9 TOTAL ICE FUTURES EUROPE 811,477 672,150 20.7 Russell 2000(R) mini futures & options 127,521 123,493 3.3 Sugar No. 11 futures & options 165,792 105,102 57.7 Other agricultural commodity contracts (3) 69,663 61,420 13.4 Currency futures (4) 23,780 7,397 221.5 Index futures (5) 649 766 -15.3 Other contracts (6) 275 254 8.3 TOTAL ICE FUTURES U.S. 387,680 298,432 29.9 TOTAL ICE FUTURES CANADA 12,129 13,269 -8.6 ------ ------ ---- TOTAL FUTURES CONTRACTS 1,211,286 983,851 23.1%
(1) ICE ECX EUA and ICE ECX CER futures and options contracts are the result of a cooperative relationship between ICE Futures Europe and the European Climate Exchange. ICE Futures Europe shares in the transaction fee revenue derived from these contracts.
(2) "Other futures contracts" include ICE Middle East Sour Crude futures;ICE ASCI Gulf Coast Sour Crude futures; ICE Heating Oil futures; ICE Unleaded Gasoline Blendstock (RBOB) futures; ICE UK Natural Gas futures; ICE UK Electricity futures; and ICE Coal futures.
(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" include futures for the U.S. Dollar Index and foreign exchange futures.
(5) "Index futures" include futures for the Russell 1000(R) mini, the Continuous Commodity Index, the Euro Index, and the NYSE Composite.
(6) "Other contracts" include options on foreign exchange futures and options on index futures, excluding Russell
ICE Futures Monthly Volume January 2010 January 2009 Percent Change ICE Futures Europe 15,418,056 14,115,148 9.2 ICE Futures U.S. 7,365,911 5,968,636 23.4 ICE Futures Canada 242,585 278,647 -12.9 Total Futures 23,026,552 20,362,431 13.1% ICE Futures Open Interest January 31, 2010 December 31, 2009 ICE Futures Europe 2,806,252 2,647,694 ICE Futures U.S. 3,615,963 3,375,176 ICE Futures Canada 141,044 118,181 Rolling Three-Month Average Rate per Contract (RPC) Three Months Three Months Three Months Ending Ending Ending Product Line January 2010 December 2009 November 2009 ICE Futures Europe $1.57 $1.54 $1.54 ICE Futures U.S. Ag $2.10 $2.10 $2.10 ICE Futures U.S. Fin $0.94 $0.86 $0.85
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: