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ICE Reports Second Quarter Futures ADV up 3%; Buyside CDS Clearing Surpasses $1.5 Trillion

ATLANTA, July 2, 2013 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, today reported futures volume for June and the second quarter of 2013. ICE's average daily volume (ADV) for futures and options for June 2013 was 3,465,509 contracts, a decrease of 4% from the prior June. Total volume in June 2013 was 69 million contracts. ADV for the second quarter 2013 was 3,544,688 contracts, an increase of 3% from the prior second quarter. All prior period contract volumes have been adjusted to include the transitioned futures contracts, which previously traded in ICE's OTC markets.

Credit Transaction and Clearing Revenues

  • Second quarter revenues from ICE's credit default swap (CDS) trade execution, processing and clearing business totaled $40 million, compared to $36 million in the prior second quarter, and included $22 million in CDS clearing revenues. ICE has cleared more than $1.5 trillion in CDS gross notional value by buyside participants, of which $1.3 trillion has been cleared since the CFTC clearing mandate went into effect.

Financial Guidance

  • ICE expects acquisition-related transaction costs for 2Q13 in the range of $8 million to $10 million, relating to the NYSE Euronext transaction, which will be excluded from non-GAAP results.

June 2013 Review

  • ICE received European Commission approval for its NYSE Euronext acquisition. The completion of the transaction is subject to final approval from the Euronext College of Regulators, the U.S. Securities and Exchange Commission, and other national financial regulators.
  • ICE Clear Europe completed the clearing transition of NYSE Liffe derivative contracts on July 1.
  • ICE will announce its second quarter 2013 financial results on Tuesday, August 6.
  • Monthly volume records were established in Sugar 11 futures, cocoa futures and ICE U.S. Dollar Index futures.
  • Daily volume records were established in cocoa futures, ICE U.S. Dollar Index futures, Russell 1000 Growth Index futures and coal options.
  • Agriculture products established monthly and ADV records in June. Additionally, ICE Futures U.S. reported a monthly record in agriculture and financial products combined.
  • In June, open interest records were set in EUA emission futures and several coal contracts.

 

ICE Futures Contracts & Markets ADV


Product Line (Futures & Options)

ADV

June

2013

ADV

June

2012

ADV

% Change

 

ADV

2Q13

 

ADV

2Q12

ADV

% Change

ICE Brent

609,777

754,616

-19%

696,887

678,136

3%

ICE Gasoil

288,864

254,089

14%

268,736

249,356

8%

ICE Other Oil (1)*

257,954

208,624

24%

251,923

203,270

24%

   ICE OIL

1,156,594

1,217,330

-5%

1,217,546

1,130,762

8%

ICE Natural Gas*

1,093,210

1,486,027

-26%

1,285,983

1,484,254

-13%

ICE Power*

535,648

292,630

83%

515,002

321,907

60%

ICE Emissions & Other (2)

49,659

36,080

38%

42,461

34,655

23%

   TOTAL ENERGY

2,835,111

3,032,067

-6%

3,060,992

2,971,577

3%

ICE Sugar

218,977

184,298

19%

158,762

152,954

4%

ICE Other Ags (3)

157,293

151,784

4%

142,652

138,319

3%

   TOTAL AGRICULTURAL

376,270

336,082

12%

301,414

291,273

3%

ICE Equity Index (4)

194,210

190,354

2%

137,799

157,332

-12%

ICE FX (5)

59,919

43,965

36%

44,483

34,279

30%

   TOTAL FINANCIALS

254,128

234,318

8%

182,282

191,612

-5%

   TOTAL FUTURES & OPTIONS

3,465,509

3,602,468

-4%

3,544,688

3,454,462

3%


Note: Figures may not foot due to rounding.

(1) "ICE Other Oil" includes futurized oil contracts, WTI, Heating Oil, RBOB Gasoline and Middle East Sour Crude. Excludes Daily Brent Bullet contracts.

(2) "ICE Emissions & Other" includes all emissions contracts, freight, coal and iron ore and uranium.

(3) "ICE Other Ags" includes Cocoa, Coffee "C", Cotton No. 2, Orange Juice, Corn, Wheat, Soybeans, Barley and Canola.

(4) "ICE Equity Index" includes the Russell 2000®, Russell 1000®, the Continuous Commodity Index, and credit index futures.

(5) "ICE FX" includes futures and options for the U.S. Dollar Index and foreign exchange.

*Historical volume has been adjusted to include new energy futures contracts.

           

ICE Futures Monthly and 2Q Volume


Futures & Options Products

 

June

2013

 

June

2012

Volume

%

Change

 

Volume

2Q13

 

Volume

2Q12

Volume

%

Change

Energy*

56,702,218

63,673,404

-11%

195,903,493

187,209,355

5%

Agricultural

7,525,396

7,057,731

7%

19,290,489

18,350,187

5%

Financials

5,082,564

4,920,688

3%

11,666,078

12,071,539

-3%

TOTAL CONTRACTS

69,310,178

75,651,823

-8%

226,860,060

217,631,081

4%


*Historical energy volume has been adjusted to include new energy futures contracts.

 

Rolling Three-Month Average Rate per Contract (RPC)


 

Futures & Options Products

Three Months

Ending

June 2013

Three Months

Ending

May 2013

Three Months

Ending 

Apr 2013

Energy

$1.04

$1.02

$1.04

Agricultural

$2.60

$2.56

$2.61

Financials

$0.96

$1.01

$1.00

 

ICE Futures & Options Open Interest



June 28, 2013

December 31, 2012

Energy

83,523,104

70,108,837

Agricultural

2,348,705

2,502,583

Financials

463,171

463,058


* OI for ICE Futures Canada is for June 27, 2013.

 

  • Through June 28, ICE's CDS clearing houses have cleared $42 trillion in gross notional value on a cumulative basis across 1.35 million trades with open interest of $1.5 trillion. ICE Clear Credit has cleared $25 trillion in CDS resulting in open interest of $826 billion. ICE Clear Europe has cleared €13 trillion ($17 trillion) in CDS resulting in €525 billion ($683 billion) of open interest. ICE lists more than 400 CDS instruments for clearing. A complete summary of CDS clearing can be found at: https://www.theice.com/clear_credit.jhtml
  • Trading days in June 2013
    • ICE Futures Europe & U.S: 20
    • ICE Futures Canada: 20

Note: As of October 15, 2012, ICE transitioned all of the open interest in OTC cleared energy swaps contracts to futures contracts. All futures volumes in the tables above have been adjusted to treat, on a pro forma basis, the OTC cleared energy swaps contracts as futures contracts for all periods prior to October 2012.

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 open interest data can be found at: http://ir.theice.com/supplemental.cfm

About IntercontinentalExchange

IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated exchanges and clearing houses serving the risk management needs of global markets for agricultural, credit, currency, emissions, energy and equity index products. www.theice.com   

The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE Futures Europe, ICE Clear Europe, ICE Clear Canada, ICE Clear US, ICE Futures U.S., and ICE OTC. 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, 2012, as filed with the SEC on February 6, 2013.

ICE-CORP

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SOURCE IntercontinentalExchange

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