Activity continues to grow by leaps and bounds on the IntercontinentalExchange (ICE) commodity marketplace as traders who formerly did a significant amount of their business on EnronOnline flock to the ICE platform. The company said average daily activity systemwide is up 30% compared to only one month ago. A total of 630 Bcf of gas was traded on Jan. 9 alone, and 17 million MWh was traded on Jan. 14, setting a new daily record.

“These volumes indicate that the market remains healthy despite the loss of a major player and that liquidity continues to be attracted to the ICE platform,” said COO Chuck Vice. “The ability for ICE users to minimize exposure to any one firm by broadly distributing business across a large and diverse group of counterparties, coupled with our role as a neutral marketplace, is attracting incredible volume. We expect this trend to continue in February as we begin offering clearing services via the global banking and brokerage community which owns and operates London Clearing House.”

ICE reported that North American power volumes on average this month are up 51% from Dec. 1 daily activity. North American gas volumes are up 37%. Emissions and weather derivatives volumes have doubled in one month, and precious metals volumes were up 100% on Jan. 2 from daily volumes traded on Dec. 1, 2001.

©Copyright 2002 Intelligence Press Inc. Allrights reserved. The preceding news report may not be republishedor redistributed, in whole or in part, in any form, without priorwritten consent of Intelligence Press, Inc.