Intercontinentalexchange

Likely responding to the success of the IntercontinentalExchange’s (ICE) electronic trading activity, the New York Mercantile Exchange Inc.’s (Nymex) board of directors voted Tuesday to offer side-by-side open outcry and electronic trading of its benchmark, physically settled energy futures contracts.

Shares of IntercontinentalExchange (ICE) soared nearly 70% on Wednesday to a high of $44.21 before backtracking to just under $39 following an initial public offering (IPO) of 16 million shares at $26/share. In October, the online energy futures exchange had expected to sell shares at $18-20. A growing need to mitigate energy price risk clearly is a big reason for such market exuberance, according to analysts.

Atlantic-based IntercontinentalExchange (ICE) has announced plans to conduct an initial public offering of its common stock. It plans to file a registration statement with Securities and Exchange Commission in the next several weeks. ICE operates an online exchange for trading natural gas, crude oil and power futures and over-the-counter energy products. ICE conducts its markets for futures trading through its subsidiary, London-based International Petroleum Exchange (IPE), Europe’s leading energy futures and options exchange. ICE also announced its 2004 financial results on Wednesday, reporting revenues of $108.4 million and consolidated net income of $22 million. Consolidated cash flow from operations was $40.3 million. Capital expenditures and capitalized software in 2004 totaled $6.5 million. For 2004, volume traded on ICE’s futures subsidiary, the International Petroleum Exchange (IPE), reached 35.5 million contracts. Electronically traded IPE Brent volume increased from 2.8% of total contract volume in January 2004 to 27.2% of total contract volume in December 2004. For more information, go to www.theinterchange.com.

Atlantic-based IntercontinentalExchange (ICE) said late Wednesday that it plans to conduct an initial public offering of its common stock. It plans to file a registration statement with Securities and Exchange Commission in the next several weeks. ICE operates an online exchange for trading natural gas, crude oil and power futures and over-the-counter energy products. ICE conducts its markets for futures trading through its subsidiary, London-based International Petroleum Exchange (IPE), Europe’s leading energy futures and options exchange. ICE also announced its 2004 financial results on Wednesday, reporting revenues of $108.4 million and consolidated net income of $22 million. Consolidated cash flow from operations was $40.3 million. Capital expenditures and capitalized software in 2004 totaled $6.5 million. For 2004, volume traded on ICE’s futures subsidiary, the International Petroleum Exchange (IPE), reached 35.5 million contracts. Electronically traded IPE Brent volume increased from 2.8% of total contract volume in January 2004 to 27.2% of total contract volume in December 2004. For more information, go to www.theinterchange.com.

September ended up being a whopper of a month for energy trading and clearing on IntercontinentalExchange (ICE) and the New York Mercantile Exchange (Nymex). Both exchanges have reported volume records in a variety of products.

The New York Mercantile Exchange (Nymex) and the IntercontinentalExchange (ICE), Nymex’s chief rival in the energy markets, released contradictory statements Thursday regarding a court decision in their legal battle over the use of Nymex futures settlement prices. Nymex claimed victory, but ICE said the key issue in the dispute was left undecided.

In an effort to expand its current list of more than 870 participant firms, IntercontinentalExchange (ICE) said that it has teamed with Trading Technologies International Inc. (TT) to provide access to ICE’s global energy markets via TT’s X_TRADER electronic trading platform.

In an effort to expand its current list of more than 870 participant firms, IntercontinentalExchange (ICE) said Wednesday that it has teamed with Trading Technologies International Inc. (TT) to provide access to ICE’s global energy markets via TT’s X_TRADER electronic trading platform.

Atlanta-based IntercontinentalExchange (ICE) saw its pretax profit plummet 62% to $19.9 million, its cash flow drop 47% to $27.1 million and its revenues tumble 25% to $93.7 million last year as the energy trading business struggled through a credit crisis and trading dropped sharply on its over-the-counter (OTC) electronic marketplace.