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Date: Wed, 23 Jan 2002 09:05:38 -0800 (PST)
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Subject: IntercontinentalExchange Named Derivatives Exchange of the Year
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IntercontinentalExchange Named Derivatives Exchange of the Year            =
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Atlanta, GA (January 23, 2002) - IntercontinentalExchange, one of the world=
's most liquid and fastest growing commodity marketplaces, has been named D=
erivatives Exchange of the Year for 2002 by Risk magazine. The Risk Awards =
recognize excellence and innovation in the fast-changing risk management an=
d over-the-counter derivatives businesses. Intercontinental was selected fo=
r its phenomenal performance in 2001 in light of the difficult year experie=
nced by many trading platforms in the global energy sector.                =
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"The Intercontinental organization has experienced a tremendous year," said=
 Jeff Sprecher, CEO of IntercontinentalExchange, who was also recently name=
d as one of the Top Entrepreneurs of 2001 by Businessweek magazine. "To be =
named Derivatives Exchange of the Year is a testament to the extremely tale=
nted group surrounding me at Intercontinental, who are successfully advanci=
ng a very powerful business model."                                        =
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Intercontinental experienced tremendous growth and reached numerous milesto=
nes in 2001. With the acquisition of International Petroleum Exchange of Lo=
ndon (IPE), Europe's leading energy futures and options exchange, ICE added=
 a broad range of exchange-traded energy-based futures and options markets =
to its extensive roster of energy and metals-based over-the-counter (OTC) d=
erivatives markets.                                                        =
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In August 2001, Intercontinental signed an agreement to offer optional clea=
ring services to its OTC market participants with The London Clearing House=
 (LCH). With this service, Intercontinental will be uniquely positioned to =
offer market participants the option to utilize clearing services for globa=
l energy and metals transactions.                                          =
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Coupled with the July 2001 closing of its acquisition of the IPE, Intercont=
inental will                                                               =
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be the world's first exchange organization to offer a full spectrum of risk=
 management products ranging from traditional bi-lateral OTC agreements to =
cleared OTC products to exchange-traded futures and options on futures.    =
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The past year also saw Intercontinental make its move into the European OTC=
 gas and power markets with the introduction of markets for UK natural gas-=
related products in December 2001. To support this expansion, ICE entered i=
nto agreements                                                             =
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with a number of leading firms engaged in the sale and trading of UK natura=
l gas.                                                                     =
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In addition to expanding its product offerings in 2001, Intercontinental ex=
perienced                                                                  =
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rapid and substantial growth. The past year saw Intercontinental increase t=
he number of participating firms and users by more than 400%. Equally impre=
ssive, the number of trades executed on the Exchange grew 15 fold over that=
 same period.                                                              =
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Intercontinental will receive the award at the Risk Awards Presentation Din=
ner on                                                                     =
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February 28th in New York. The proceeds of the dinner will go to Risk Water=
s Group World Trade Appeal Fund.                                           =
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About IntercontinentalExchange                                             =
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IntercontinentalExchange is one of the world's most liquid and fastest grow=
ing electronic commodity marketplace, owned by over 100 of the world's lead=
ing energy and metals traders, brokers and bankers.                        =
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The Exchange electronic trading system is installed on over 7,500 desktops =
worldwide from which traders log on each day of the business week to trade =
more than 600 listed commodity and derivative contract types. Broadly, thes=
e include crude oil and refined products, natural gas, power, precious meta=
ls and emissions allowances. Contract forms include physical delivery as we=
ll as financially settled swaps, spreads, differentials and options based o=
n a variety of fixed and floating price indices.                           =
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Based in Atlanta (and with offices in New York, Houston, Chicago, London an=
d Singapore), this electronic exchange is taking the technological revoluti=
on that occurred in international financial markets and extending it into g=
lobal commodity markets.                                                   =
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IntercontinentalExchange is the owner of the International Petroleum Exchan=
ge of London (IPE), Europe'                                                =
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 leading energy futures and options exchange. The IPE provides highly regul=
ated open outcry and electronic marketplaces where industry participants us=
e futures and options to minimize their price risk exposure in the physical=
 energy market.                                                            =
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Products traded on IPE include Brent Crude futures and Options, Gas Oil fut=
ures and Options, Natural Gas futures and Electricity (baseload) futures.  =
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