Intercontinentalexchange

Heated commodity exchange competition appears to be paying off for New York-based Nymex Holdings Inc. and Atlanta-based IntercontinentalExchange (ICE), as the arch rivals both reported record earnings and results for the third quarter of 2006.

The IntercontinentalExchange continued its upward surge of futures trading activity and commissions on its over-the-counter (OTC) business with new records in both areas in September. It was the ninth consecutive record month for ICE futures. At the same time the rival New York Mercantile Exchange (Nymex) reported that as of Sept. 29, trading in a number of areas in the first nine months of 2006 had exceeded totals traded in all of 2005.

The IntercontinentalExchange (ICE), a rising star electronic energy exchange, announced late Thursday it has entered into a definitive merger agreement to acquire the New York Board of Trade (NYBOT), a more than 100-year-old open outcry exchange for sugar, coffee, cocoa, cotton and other commodities and financial products, for $1 billion. The transaction, which is expected to close in the first half of next year, will deliver to NYBOT 10.297 million shares of ICE common stock and $400 million in cash.

The IntercontinentalExchange (ICE), a rising star electronic energy exchange, announced late Thursday it has entered into a definitive merger agreement to acquire the New York Board of Trade (NYBOT), a more than 100-year-old open outcry exchange for sugar, coffee, cocoa, cotton and other commodities and financial products, for $1 billion. The transaction, which is expected to close in the first half of next year, will deliver to NYBOT 10.297 million shares of ICE common stock and $400 million in cash.

One of the youngest commodity exchanges, The IntercontinentalExchange (ICE), founded in 2000, reportedly is the front-runner as a merger partner for one of the oldest, the New York Board of Trade (NYBOT), whose origins as a trader of cocoa, coffee and cotton go back more than 100 years.

During a month that saw high volatility, Atlanta-based IntercontinentalExchange (ICE) reported record activity on its online marketplace during the month of August. Average daily volume (ADV) for ICE futures, its London-based regulated futures subsidiary, totaled 406,037 contracts for an eighth consecutive monthly record, an increase of 115.1% over August 2005’s 188,757 contracts.

Two of the major exchanges trading natural gas, the New York Mercantile Exchange (Nymex) and the IntercontinentalExchange (ICE) are among a handful of exchanges in the U.S. and Europe that have been discussing possibly purchasing the New York Board of Trade (Nybot), according to an article Thursday in The Wall Street Journal. The article, based on sources, said two exchanges are still in talks, but it did not say which two. Nybot, which has floor-based trading of some agricultural products, would be a good fit with either CBOT Holdings, owner of the Chicago Board of Trade, or ICE, because Nybot has a clearing business, WSJ went on to say. Nybot has space on Nymex’s trading floor in Lower Manhattan.

IntercontinentalExchange Wednesday reported record results for the second quarter of 2006 with increases over the same quarter in 2005 in consolidated revenues, operating margin and net income. Consolidated revenues were up 96.1%, while the exchange showed an operating margin of 64.4% and net income of $31 million compared to a loss last year.

IntercontinentalExchange Wednesday reported record results for the second quarter of 2006 with increases over the same quarter in 2005 in consolidated revenues, operating margin and net income. Consolidated revenues were up 96.1%, while the exchange showed an operating margin of 64.4% and net income of $31 million compared to a loss last year.