News Column

Intercontinental Exchange Reports ICE and NYSE Volume for July; Record Monthly Volume in Benchmark Brent Crude Futures

August 5, 2014

ATLANTA--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE: ICE), the leading global network of exchanges and clearing houses, today reported exchange traded volumes for July 2014.

ICE’s July average daily volume (ADV) for futures and options was 4.3 million contracts, a decrease of 23% compared to July 2013.

  • July commodity ADV declined 4% year to year, with natural gas ADV down 22% partially offset by a 26% increase in Brent ADV.
  • Financial ADV decreased 40% over the prior July due to the continued low European interest rate environment.

    In July, NYSE’s U.S. cash equities ADV declined 4% while U.S. options ADV increased 1% year to year.

     

               

    ICE Futures & Options ADV (contracts in 000s)

    ADV JulyADV JulyChangeADV YTDADV YTDChange
        2014   2013   y/y   July ‘14   July ‘13   y/y
    COMMODITIES                        
    Energy                        
    Brent   827   654   26%   664   689   -4%
    Gasoil   196   260   -25%   216   273   -21%
    Other Oil (1)   290   298   -3%   263   262   1%
    TOTAL OIL   1,313   1,212   8%   1,142   1,224   -7%
    Natural Gas (2)   746   957   -22%   916   1,265   -28%
    Power (3)   90   100   -10%   117   136   -14%
    Emissions & Other (4)   39   30   29%   44   44   1%
    TOTAL ENERGY   2,188   2,300   -5%   2,219   2,669   -17%
    Agricultural                        
    Sugar (5)   117   119   -2%   163   153   6%
    Other Ags & Metals (6)   147   145   2%   184   185   -1%
    TOTAL AGRICULTURAL & METALS   264   264   -   347   339   2%
    TOTAL COMMODITIES   2,452   2,564   -4%   2,566   3,007   -15%
                             
    FINANCIALS                        
    Interest Rates                        
    Short-term Interest Rates (7)   877   1,993   -56%   1,644   2,367   -31%
    Medium & Long-term Interest Rates (8)   136   128   6%   167   183   -9%
    TOTAL INTEREST RATES   1,014   2,122   -52%   1,811   2,549   -29%
                             
    TOTAL EQUITY DERIVATIVES (9)   766   830   -8%   985   1,110   -11%
                             
    TOTAL FX (10)   20   39   -48%   24   41   -41%
    TOTAL FINANCIALS   1,800   2,991   -40%   2,821   3,701   -24%
    TOTAL FUTURES & OPTIONS   4,252   5,555   -23%   5,387   6,708   -20%


    Note: Figures may not foot due to rounding.

    (1)   “Other Oil” includes futurized oil, WTI, Heating Oil, RBOB Gasoline and Middle East Sour Crude. Excludes Daily Brent Bullet contracts.
    (2) “Natural Gas” includes North American, UK and European Natural Gas.
    (3) “Power” includes North American, UK and European Power.
    (4) “Emissions & Other” includes all emissions contracts, freight, coal, iron ore and uranium.
    (5) “Sugar” includes Sugar No. 11, Sugar No. 16 and White Sugar.
    (6) “Other Ags & Metals” includes Cocoa ($), Cocoa (£),Coffee “C”, Robusta Coffee, Cotton No. 2, Orange Juice, Corn, Wheat-Feed, Soybeans, Barley, Canola, Mini Gold and Mini Silver contracts.
    (7) “Short-term Interest Rates” includes Euribor, Sterling, Swiss, Eonia, Eurodollar, Short Gilt, European Government Bonds and DTCC GCF Repo contracts.
    (8) “Medium & Long-Term Rates” includes Gilt, Swapnotes, Japanese Government Bonds, European Government Bonds, Treasuries and U.S. Government Bonds and Ultrabond contracts.
    (9) “TOTAL EQUITY DERIVATIVES” includes FTSE 100, FTSE 100 Dividend, price return and net total return versions of MSCI EAFE, MSCI Emerging Markets, MSCI Europe, and MSCI World, Russell 2000® , Russell 1000® and Single Stock Equities which includes equities domiciled in 25 countries that trade in the UK.
    (10) “TOTAL FX” includes futures and options for the U.S. Dollar Index and foreign exchange.
     


    Financial and Reporting Update

  • ICE will report second quarter 2014 earnings on Thursday, August 7.
  • Following the transition of Liffe U.S. contracts to ICE Futures in June, volume for Metals, Eurodollar, GCF Repo index and U.S. MSCI equity index futures can be found in ICE’s Report Center. A guide to tracking daily volume can be found on the Supplemental Volume Information page in the Investor section of the website.
         

    ICE Futures & Options Rolling Three-Month Average Rate per Contract (RPC)

    Three MonthsThree MonthsThree Months
    Futures & OptionsEndingEndingEnding
    Products   July 2014   June 2014   May 2014
    Energy   $1.36   $1.38   $1.40
    Agricultural & Metals   $2.42   $2.41   $2.33
    Total Commodities   $1.50   $1.53   $1.53
    Interest Rates   $0.65   $0.65   $0.63
    Total Financials   $0.59   $0.56   $0.53


    RPC is calculated by dividing transaction revenues by contract volume, and may vary based on pricing, customer and product mix.

       

    ICE Futures & Options Open Interest (contracts in 000s)

        July 31, 2014   Dec 31, 2013
    Energy   38,787   41,470
    Agricultural & Metals   3,607   3,372
    Total Commodities   42,395   44,842
    Interest Rates   20,810   18,101
    Total Financials   36,925   30,385
               

    ICE Futures & Options Monthly and YTD Volume (contracts in 000s)

    Vol %YTDYTDVol %
    Futures & Options Products   July-14   July-13   Change   July ‘14   July ‘13   Change
    Commodities   53,942   56,453   -4%   374,689   439,221   -15%
    Financials   41,055   68,631   -40%   419,049   550,750   -24%
    TOTAL CONTRACTS   94,996   125,084   -24%   793,738   989,971   -20%
               

    U.S. Equity Options (contracts in 000s)

    ADV JulyADV JulyChangeADV YTDADV YTDChange
        2014   2013   y/y   July ‘14   July ‘13   y/y
    NYSE Equity Options(1)   3,592   3,562   1%   3,645   4,194   -13%
    Total U.S. Options Volume   14,656   13,412   9%   15,064   15,138   0%
    NYSE Share of Group Total   25%   27%   -2pts   24%   28%   -4pts


    (1) “NYSE Equity Options” includes NYSE Amex Options and NYSE Arca Options markets for U.S. equity options contracts.

         

    U.S. Equity Options Rolling Three-Month Average Rate per Contract (RPC)

    Three MonthsThree MonthsThree Months
    EndingEndingEnding
        July 2014   June 2014   May 2014
    US Equity Options   $0.16   $0.15   $0.16
               

    U.S. Cash Products (shares in millions)

    ADV JulyADV JulyChangeADV YTDADV YTDChange
        2014   2013   y/y   July ‘14   July ‘13   y/y
    NYSE Listed (Tape A) Issues                        
    Handled Volume (1)   939   989   -5%   1,032   1,115   -7%
    Matched Volume(2)   920   953   -4%   1,008   1,074   -6%
    Total NYSE Listed Consolidated Volume   3,052   3,117   -2%   3,343   3,525   -5%
    Share of Total Matched Consolidated Volume   30%   31%   -1pt   30%   30%   -
                             
    NYSE Arca, MKT and Regional (Tape B) Listed Issues                        
    Handled Volume (1)   206   230   -11%   237   252   -6%
    Matched Volume(2)   195   212   -8%   224   232   -4%
    Total NYSE Arca and MKT Listed Consolidated Volume   876   1,008   -13%   1,035   1,107   -7%
    Share of Total Matched Consolidated Volume   22%   21%   +1pt   22%   21%   +1pt
                             
    Nasdaq Listed (Tape C) Issues                        
    Handled Volume (1)   191   175   9%   204   190   7%
    Matched Volume(2)   179   156   14%   188   170   11%
    Total Nasdaq Listed Consolidated Volume   1,801   1,633   10%   2,028   1,775   14%
    Share of Total Matched Consolidated Volume   10%   10%   -   9%   10%   -1pt
                             
    TOTAL ADV U.S. Cash Shares Handled   1,336   1,394   -4%   1,474   1,558   -5%
    (1)   “Handled Volume” represents the total number of shares of equity securities, exchange traded funds (ETFs) and crossing session activity internally matched on NYSE Group’s exchanges or routed to and executed on an external market center.
    (2) “Matched Volume” represents the total number of shares of equity securities, ETFs and crossing session activity executed on NYSE Group’s exchanges.
         
     
    U.S. Cash Rolling Three-Month Revenue Capture

    (per 100 shares)

    Three MonthsThree MonthsThree Months
    EndingEndingEnding
        July 2014   June 2014   May 2014
    US Cash Products   $0.049   $0.048   $0.048
     


    Credit Default Swaps (CDS) Transaction and Clearing

  • Through July 31, ICE has cleared $55 trillion in gross notional value of CDS on a cumulative basis across 1.9 million trades with open interest of $1.6 trillion. Buy-side clearing of CDS totaled $7.5 trillion since the launch of client clearing at ICE Clear Credit in December of 2009. ICE lists nearly 500 CDS instruments for clearing. A complete summary of CDS clearing can be found at: https://www.theice.com/clear_credit.jhtml

    July 2014 Review

  • ICE’s Brent Crude futures contract set consecutive daily volume records on July 11 and July 15 of 1,451,481 contracts and 1,526,965 contracts, respectively.
  • Total monthly and average daily volume records were established in Brent futures, Newcastle Coal futures and options, and mini MSCI Emerging Markets Asia Net Total Return index futures contracts.
  • Open interest records were established in UK Natural Gas futures and options, Newcastle Coal futures and options, and Brent, Cocoa, Rotterdam Coal and Richards Bay Coal options contracts.
  • ICE completed the sale of Wombat Financial Software to SR Labs.
  • ICE Chairman and CEO Jeffrey C. Sprecher testified before the Senate on an equity market structure panel.

    Trading days in July 2014:

  • Interest Rates, UK Single Stock: 23
  • Commodities, Other Financials: 22
  • US Cash Equities, US Equity Options: 22

    ICE finalized the acquisition of NYSE Euronext on November 13, 2013. For comparison purposes NYSE Euronext volumes are included for all periods covered.

    About Intercontinental Exchange

    Intercontinental Exchange (NYSE: ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures and Liffe.

    Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE, New York Stock Exchange and LIFFE. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at www.intercontinentalexchange.com/terms-of-use.

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding ICE'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, 2013, as filed with the SEC on February 14, 2014.

    SOURCE: Intercontinental Exchange

    ICE-CORP




    Intercontinental Exchange, Inc.

    Investor Contact:

    Kelly Loeffler, SVP, Corp. Comm, Marketing and Investor Relations

    +1 770 857 4726

    kelly.loeffler@theice.com

    Source: Intercontinental Exchange, Inc.


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