Message-ID: <23957807.1075860995169.JavaMail.evans@thyme>
Date: Wed, 16 Jan 2002 09:25:39 -0800 (PST)
From: feedback@intcx.com
To: iceuserslist@list.intcx.com
Subject: ICE Continues to Attract and Consolidate Liquidity
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January 16, 2002                                                           =
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                        =20
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                        =20
ICE Continues to Attract and Consolidate Liquidity                         =
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                        =20
? Average daily trading activity up 30% in January                         =
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                        =20
? New daily records set for North American power and gas                   =
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                        =20
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                        =20
Atlanta, GA (January 16, 2002) - IntercontinentalExchange (ICE), one of the=
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                        =20
world's most liquid and fastest growing commodity marketplaces, announced  =
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                        =20
today that trading volumes continue to grow at a record pace with average  =
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                        =20
daily activity system-wide up 30% over a month ago.                        =
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                        =20
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                        =20
ICE also again set new daily trading records with North American power     =
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                        =20
volume of more than 17 million MWhs (megawatt hours) on January 14th and   =
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                        =20
North American natural gas volume of more than 630 BCF (billion cubic feet)=
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                        =20
traded on January 9th.                                                     =
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                        =20
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                        =20
"These volumes indicate that the market remains healthy despite the loss of=
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                        =20
a major player and that liquidity continues to be attracted to the ICE     =
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                        =20
platform," said Chuck Vice, COO of IntercontinentalExchange. "The ability  =
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                        =20
for ICE users to minimize exposure to any one firm by broadly distributing =
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                        =20
business across a large and diverse group of counterparties, coupled with  =
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                        =20
our role as a neutral marketplace, is attracting incredible volume.  We    =
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                        =20
expect this trend to continue in February as we begin offering clearing    =
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                        =20
services via the global banking and brokerage community which owns and     =
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                        =20
operates the London Clearing House."                                       =
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                        =20
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                        =20
To date, month over month comparisons by market on ICE are as follows:     =
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                        =20
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                        =20
Market=09=09=09=09=09MTD Jan.`02 Daily Average =09% Increase over Dec.`01  =
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                                    =20
=09=09=09=09=09=09=09=09=09=09=09Daily Average                             =
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North American Power(megawatt hours)=0912 million=09=09=09=0951%           =
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                                  =20
North American Gas(cubic feet)=09=09415 billion=09=09=09=0937%             =
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                                    =20
European Gas(therms)=09=09=09=09117 million=09=09=09=0932%                 =
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                                        =20
Oil(equivalent barrels)=09=09=09=099 million =09=09=09=0910%               =
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                                        =20
Precious Metals(equivalent gold oz)=09=09600,000 =09=09=09=09100%          =
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                                    =20
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                        =20
ICE emissions and weather derivative markets continue to be active as well =
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                        =20
with January volumes to date doubling those in December.                   =
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                        =20
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                        =20
As an open-access, multi-lateral electronic marketplace,                   =
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                        =20
IntercontinentalExchange has built a strong track record for offering      =
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                        =20
increased liquidity and transparency to OTC market participants.  Over 500 =
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                        =20
of the world's largest commodity trading firms are now ICE participants.   =
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                        =20
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                        =20
About IntercontinentalExchange                                             =
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                        =20
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                        =20
IntercontinentalExchange is one of the world's most liquid and fastest     =
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                        =20
growing commodity marketplaces, owned by over 100 of the world's leading   =
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                        =20
energy and metals traders, brokers and bankers.                            =
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                        =20
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                        =20
The ICE electronic trading system is installed on over 8,500 desktops      =
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                        =20
worldwide from which traders log on each day of the business week to trade =
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                        =20
more than 600 listed commodity and derivative contract types.  Broadly,    =
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                        =20
these include crude oil and refined products, natural gas, power, precious =
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                        =20
metals, weather derivatives and emissions allowances.  Contract forms      =
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                        =20
include physical delivery as well as financially settled swaps, spreads,   =
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                        =20
differentials and options based on a variety of fixed and floating price   =
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                        =20
indices.                                                                   =
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                        =20
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                        =20
Based in Atlanta (and with offices in New York, Houston, Chicago, London an=
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                        =20
Singapore), ICE is taking the technological revolution that occurred in    =
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                        =20
international financial markets and extending it into global commodity     =
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                        =20
markets.                                                                   =
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                        =20
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                        =20
IntercontinentalExchange is the owner of the International Petroleum       =
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                        =20
Exchange of London (IPE), Europe's leading energy futures and options      =
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                        =20
exchange.  The IPE provides highly regulated open outcry and electronic    =
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                        =20
marketplaces where industry participants use futures and options to minimiz=
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                        =20
their price risk exposure in the physical energy market.                   =
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                        =20
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                        =20
Products traded on IPE include Brent Crude futures and Options, Gas Oil    =
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                        =20
futures and Options, Natural Gas futures and Electricity (baseload) futures=
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                        =20
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                        =20
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                        =20
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                        =20
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                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                        =20
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                        =20
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                        =20
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                        =20
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                        =20
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                        =20
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                        =20
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                                                                           =
                        