ICE Clear Europe Clears Euro 32 Billion in Second Week of European CDS Processing

LONDON -

IntercontinentalExchange(R) (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced ICE Clear Europe(R) cleared 699 transactions totaling euro 31.9 billion (US$45.2 billion) in credit default swap (CDS) indexes during the week of August 3. Open interest reached euro 1.5 billion (US$2.1 billion).

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ICE Clear Europe initiated clearing of iTraxx index contracts on July 27. In its first weekly clearing cycle, ICE Clear Europe processed 141 transactions totaling euro 5.9 billion of notional value.

ICE Clear Europe, which also provides clearing services for ICE’s futures and OTC energy markets, has established a separate risk pool for clearing CDS, including a guaranty fund and margin accounts, as well as a dedicated risk management system and governance structure. Through its U.S. CDS clearing arm, ICE Trust(TM), and now ICE Clear Europe’s European CDS clearing effort, ICE brings a common infrastructure to global CDS market participants within their respective regulatory jurisdictions, while leveraging clearing systems and risk management processes already in use by the industry. ICE Trust launched in March and surpassed US$1.7 trillion notional in North American CDS indexes cleared during the week of August 3.

Initial CDS clearing members at ICE Clear Europe include: Bank of America, Barclays, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley and UBS. All CDS clearing members participated in the second week of processing.

More information, including the ICE Clear Europe CDS rulebook and Frequently Asked Questions, are available at https://www.theice.com/clear_europe_cds.jhtml.

About IntercontinentalExchange

IntercontinentalExchange(R) (NYSE: ICE) operates leading regulated exchanges, trading platforms and clearing houses serving the global markets for agricultural, credit, currency, emissions, energy and equity index markets. ICE Futures Europe(R) hosts trade in half of the world’s crude and refined oil futures. ICE Futures U.S.(R) and ICE Futures Canada(R) list agricultural, currency and Russell Index markets. ICE offers trade execution and processing for the credit derivatives markets through Creditex and ICE Link(TM), respectively, and CDS clearing through ICE Trust(TM) and ICE Clear Europe(R). A component of the Russell 1000(R) and S&P 500 indexes, ICE(R) serves customers in more than 50 countries and is headquartered in Atlanta, with offices in New York, London, Chicago, Winnipeg, Calgary, Houston and Singapore.  www.theice.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2008, as filed with the SEC on February 11, 2009.

Source: IntercontinentalExchange

Investor & Media Kelly Loeffler, VP, Investor Relations & Corp. Communications, +1-770-857-4726, kelly.loeffler at theice.com, or Sarah Stashak, Director, Investor & Public Relations, +1-770-857-0340, sarah.stashak at theice.com, all of IntercontinentalExchange. Logo: https://www.newscom.com/cgi-bin/prnh/20090727/CL51999LOGO