Grain News

ICE Reports Record Volume and Comissions for September and Third Quarter 2007

Date Posted: October 2, 2007

Atlanta, GA--IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace and soft commodity exchange, reported on Oct. 2 solid volume growth in all business segments and record growth in its energy businesses for the month of September 2007.

• Average daily volume (ADV) for ICE Futures Europe reached a record 598,651 contracts traded in September 2007, an increase of 33.7% over September 2006.

• ADV at ICE Futures U.S. was 241,898 contracts in September 2007, up 22.4% from September 2006.

• ADV for the Winnipeg Commodity Exchange Inc. (WCE) for September 2007 was 13,313 contracts, an increase of 10.6% compared to September 2006.

• Average daily commissions for ICE's global over-the-counter (OTC) business were a record $975,828, a 21.1% increase over September 2006.

European Futures Volume and RPC

ICE Futures Europe reported total volume in September 2007 of 11,973,011 contracts, up 27.3% compared to 9,403,942 contracts in September 2006.

ADV rose 33.7% from 447,807 contracts in September 2006 to 598,651 contracts in September 2007.

Several ICE Futures Europe contracts traded at or near record levels during September. In the third quarter, ADV at ICE Futures Europe totaled 552,537 contracts, an increase of 33.8% over the prior third quarter.

In September 2007, rate per contract (RPC) for ICE Futures Europe was $1.31, compared to an average RPC of $1.27 for the initial two months of the third quarter.

The three-month rolling average for RPC for the period of July 2007 through September 2007 was $1.28. RPC is calculated by dividing transaction revenues by contract volume, and can vary based on pricing, customer and product mix.

For the third quarter, RPC totaled $1.28, compared to $1.29 in the second quarter of 2007.

On September 30, 2007, open interest for ICE Futures Europe was 1,862,696 contracts, compared to 1,416,470 contracts at December 31, 2006.

Open interest reached a new record on September 18 of 1,917,977 contracts.

North American Futures Volume and RPC

Total futures and options volume at ICE Futures U.S. increased 16.0% to 4,615,469 contracts in September 2007, compared to volume of 3,979,406 contracts in September 2006.

September 2007 ADV rose 22.4%, to 241,898 contracts, compared with 197,667 contracts in September 2006.

In the third quarter, ADV at ICE Futures U.S. totaled 208,022 contracts, an increase of 23.0% over the prior third quarter.

Electronic trading in agricultural commodity futures accounted for 79% of the total ICE Futures U.S. agricultural commodity futures contracts in September, compared to 80% in August.

In September 2007, ADV in electronically traded agricultural commodity futures was 134,690 contracts; total agricultural commodity futures volume averaged 171,437 contracts per day.

In August 2007, ICE Futures U.S. reported an aggregate RPC for agricultural commodity futures and options of $2.10, compared to $1.55 in August 2006.

RPC for July 2007 was $1.92.

The three-month rolling average for RPC for the period of June 2007 through August 2007 was $2.03. RPC for ICE Futures U.S. is reported one month in arrears.

September contract volume for ICE's Canadian futures business, WCE, totaled 252,945 contracts and ADV was 13,313 contracts.

Total volume and ADV increased 5.0% and 10.6%, respectively, over September 2006.

Global OTC

In September 2007, ICE's average daily commissions reached a record $975,828, an increase of 21.1% compared to $806,011 in September 2006.

Average daily commissions reflect daily trading activity in ICE's OTC markets.

For the third quarter of 2007, average daily commissions were a record $890,092, an increase of 20.6% over the prior third quarter.

Additional September 2007 Highlights:

• On September 10, 2007, ICE entered into an agreement to acquire the assets of Chatham Energy Partners, LLC. Chatham is a leading brokerage firm that specializes in structuring and the OTC markets for natural gas options. Chatham will support ICE's strategic plans to develop the leading electronic marketplace for OTC natural gas options.

• For the third quarter ended September 30, 2007, ICE will recognize expenses relating to the Russell Licensing Agreement in the range of $1.5 million to $1.8 million. ICE will provide additional expense guidance on this agreement when third quarter earnings are reported on October 25.

• ICE Futures Europe has exceeded 100 million contracts traded year to date for the first time in a calendar year during the month of September.

Below are selected records achieved at ICE Futures Europe

• ICE Brent and Gas Oil set new ADV records, with ICE WTI ADV reaching the second highest in the exchange's history.

• The ICE Gas Oil futures contract reached record volume of 173,843 on September 6. On September 19, open interest in Gas Oil futures reached a record 382,948 contracts. September marked the first ever that ADV for the contract exceeded 100,000 contracts.

• ICE Futures Europe recorded its second highest total daily 840,174 futures and options contracts on September 6.

ICE Futures U.S. records achieved in September 2007:

• The U.S. Dollar Index (USDX) futures contract reached record electronic volume of 8,051 contracts on September 12.

• The Coffee "C" futures contract set an electronic volume record of 41,270 on September 17.

ICE Futures: September 2007 Volume by Product

Product Line... ADV September 2007... ADV September 2006... ADV % Change... ADV % Electronic(7)

ICE Brent Crude futures... 249,464... 184,299... 35.4... n/a

ICE WTI Crude futures... 221,222... 167,793... 31.8... n/a

ICE Gas Oil futures... 115,025... 88,048... 30.6... n/a

Other contracts (1)... 12,940... 7,667... 68.8... n/a

Ttl. ICE Futures Europe... 598,651... 447,807... 33.7... n/a

Sugar No. 11 futures... 114,509... 87,341... 31.1... 77.8

Other agricultural commodity contracts (2)... 107,986... 84,255... 28.2... 80.1

Currency futures (3)... 9,487... 13,825... -31.4... n/a

Index futures (4)... 9,384... 11,679... -19.7... 46.2

Other contracts (5)... 532... 567... -5.8... n/a

Ttl. ICE Futures U.S.... 241,898... 197,667... 22.4... 76.8

Total WCE (6)... 13,313... 12,042... 10.6... 100

TOTAL FUTURES CONTRACTS (8)... 853,862... 657,516... 29.9... n/a

(1)"Other contracts" include ICE Middle East Sour Crude futures, which began trading May 21, 2007; ICE Heating Oil futures; ICE Unleaded Gasoline Blendstock (RBOB) futures; ICE UK Natural Gas futures; ICE-ECX CFI futures; ICE UK Electricity futures; ICE Coal futures; ICE Brent options; ICE WTI options, and ICE Gas Oil options. The ICE-ECX CFI futures contract is the result of a cooperative relationship between ICE Futures and the Chicago Climate Exchange, Inc. and its subsidiary, the European Climate Exchange. ICE Futures shares in the revenue derived from the ECX CFI Futures contract.

(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. 11 options.

(3) "Currency contracts" include futures for foreign exchange products.

(4) "Index contracts" include futures for the U.S. Dollar Index, Russell 2000, Russell 2000 mini, Russell 1000, Russell 1000 mini, the Continuous Commodity Index, the Euro Index, and the NYSE Composite.

(5) "Other contracts" include options on foreign exchange futures and options on index futures.

(6) "WCE contracts" include futures and options for Canola, Feed Wheat and Western Barley.

(7) ADV % Electronic calculation applies to ICE Futures U.S. and excludes products that were not available for electronic trading at any time during the month. ICE Futures Europe is an electronic exchange.

(8) ICE Futures U.S. was acquired by ICE on January 12, 2007 and WCE was acquired by ICE on August 27, 2007. The 2006 data is included for comparison purposes.

ICE Futures: Rolling Three-Month Average Rate per Contract

Product Line... Three Months Ending September 2007... Three Months Ending August 2007...Three Months Ending July 2007 ICE Futures Europe... $1.28... $1.27... $1.29

Three Months Ending August 2007... Three Months Ending July 2007... Three Months Ending June 2007

ICE Futures U.S. (1)...$2.03... $1.91... $1.84

(1) RPC for ICE Futures U.S. represents agricultural commodities only and is reported one month in arrears.

Historical futures volume and OTC commission data can be found at: www.theice.com/marketdata/recordsAndVolumes/volumes2007.jsp

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