IntercontinentalExchange(R) (NYSE: ICE), a leading operator of regulated global futures exchanges and over-the-counter (OTC) markets, today reported total futures volume of 20.1 million contracts in May 2009, an increase of 6% from May 2008. Average daily volume (ADV) was 967,182 contracts for the month, up 11% over May 2008 ADV.
Year-to-date through May 31, ADV across ICE’s futures exchanges was 989,795 contracts, an increase of 4% compared to the same period of 2008. ADV for ICE Futures Europe(R) was flat compared to the first five months of 2008 and up 12% at ICE Futures U.S.(R)
European Futures Volume and RPC
ICE Futures Europe is ICE’s London-based energy futures exchange. ICE Futures Europe reported total volume of 12,402,248 contracts in May, a 12% decrease from 14,145,967 in May 2008. ADV was 590,583, a decline of 8% compared to the year-ago month.
The three-month average rate per contract (RPC) for May 2009 was $1.61. RPC averaged $1.61 and $1.57 for the three months ended April and March, respectively. RPC is calculated by dividing transaction revenues by contract volume, and can vary based on pricing, customer and product mix.
Open interest for ICE Futures Europe was a record 2,620,898 contracts on May 31, 2009, compared to 2,102,574 contracts on December 31, 2008.
North American Futures Volume and RPC
ICE’s agricultural, soft commodity, financial and index futures trade on ICE’s North American futures exchanges. Total volume at ICE Futures U.S. was 7,391,418 contracts during the month of May, 61% higher than 4,598,435 contracts in May 2008. ADV was 362,047 for the month, an increase of 66% from May 2008.
The three-month average RPC for May 2009 was $2.23 for ICE Futures U.S. agricultural contracts. RPC averaged $2.33 and $2.34 for the three months ended April and March, respectively. RPC for ICE Futures U.S. financial contracts averaged $0.77 for the three months ended May 2009. RPC averaged $0.77 and $0.78 for the three months ended April and March, respectively.
Open interest for ICE Futures U.S. was 3,109,377 contracts on May 31, 2009, compared to 3,028,877 contracts on December 31, 2008.
ICE Futures Canada(R) recorded total monthly volume of 291,030 contracts in May 2009, an increase of 25% from May 2008. ADV was 14,552, up 31% from May 2008. Open interest for ICE Futures Canada was 125,476 as of May 31, 2009, compared to 97,673 contracts on December 31, 2008.
ICE Futures: Rolling Three-Month Average Rate per Contract
Three Months Three Months Three Months
Product Line Ending Ending Ending
May 2009 April 2009 March 2009
ICE Futures Europe $1.61 $1.61 $1.57
ICE Futures U.S. Ag $2.23 $2.33 $2.34
ICE Futures U.S. Fin $0.77 $0.77 $0.78
Additional May 2009 Information:
— Through May 29, ICE Trust(TM) has cleared $731 billion in notional value
of CDS index contracts, resulting in $118 billion of open interest.
— The Royal Bank of Scotland plc and HSBC Bank USA became operational as
clearing members of ICE Trust, bringing the total to 12 clearing
members.
— ICE was named Exchange of the Year for 2009 by Energy Risk magazine.
— Trading days in May 2009:
— ICE Futures Europe: 21
— ICE Futures U.S. Agricultural: 20
— ICE Futures U.S. Currency and Index: 21
— ICE Futures Canada: 20
— ICE Futures Europe product records achieved in May 2009:
— Gas Oil futures achieved record open interest of 522,240.
— Brent Crude futures achieved record open interest of 721,844.
— Open interest records were established for U.K. natural gas and
several coal and emissions contracts.
Financial Guidance Clarification:
— As previously disclosed, ICE Trust entered into a profit sharing
arrangement with the former shareholders of The Clearing Corporation
(TCC), which was acquired by ICE in March 2009. ICE will retain
approximately 86% of profits earned at ICE Trust through December 31,
2009. From January 2010, ICE Trust will retain 50% of the profits, with
the remaining 50% distributed to TCC’s former shareholders.
ICE Futures: May 2009 Average Daily Volume by Product
ADV ADV ADV
May May % Change
Product Line 2009 2008
ICE Brent Crude futures 258,787 304,656 -15.1
ICE WTI Crude futures 160,800 228,719 -29.7
ICE Gas Oil futures 136,249 97,494 39.8
Other contracts (1) 34,747 12,130 186.5
Total ICE Futures Europe 590,583 642,999 -8.2
Russell 2000((R)) mini futures & options 141,206 4,432 3,085.9
Sugar No. 11 futures & options 148,767 122,878 21.1
Other agricultural
commodity contracts (2) 62,810 77,916 -19.4
Currency futures (3) 2,185 5,560 -60.7
Index futures (4) 6,818 6,766 0.8
Other contracts (5) 261 595 -56.0
Total ICE Futures U.S. 362,047 218,147 66.0
Total ICE Futures Canada (6) 14,552 11,069 31.5
—— —— —-
TOTAL FUTURES CONTRACTS 967,182 872,215 11%
(1) "Other contracts" include ICE Middle East Sour Crude futures; ICE
Heating Oil futures; ICE Unleaded Gasoline Blendstock (RBOB) futures;
ICE UK Natural Gas futures; ICE ECX EUA futures; ICE ECX CER futures;
ICE UK Electricity futures; ICE Coal futures; ICE Brent options; ICE
WTI options, ICE Gas Oil options; ICE ECX EUA options and ICE ECX CER
options. The ICE ECX EUA futures and options contracts and the ICE ECX
CER futures and options contracts are the result of a cooperative
relationship between ICE Futures Europe and the Chicago Climate
Exchange, Inc. and its subsidiary, the European Climate Exchange. ICE
Futures Europe shares in the revenue derived from the ECX EUA and ECX
CER futures and options contracts.
(2) "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.
(3) "Currency futures" include futures for foreign exchange products and
ICE Millions contracts.
(4) "Index futures" include futures for the U.S. Dollar Index(R), Russell
2000 (full size), Russell 1000(R), Russell 1000 mini, the Continuous
Commodity Index, the Euro Index, and the NYSE Composite. The
transition of the Russell Index futures and options contracts to
exclusive trading on ICE occurred in September 2008.
(5) "Other contracts" include options on foreign exchange futures and
options on index futures, excluding Russell 2000 mini options.
(6) "ICE Futures Canada" includes futures and options for Canola and
Western Barley.
Monthly RPC and volumes are estimated using best available current information. Final figures are reported in ICE’s quarterly and annual filings with the Securities and Exchange Commission.
