Deals
Intercontinental Has Record 2012 After Changing Swaps to Futures
This article is for subscribers only.
Intercontinental Exchange Inc., which agreed last month to buy NYSE Euronext, reported record volume for 2012 after it converted energy swaps to futures contracts.
The company traded 847 million contracts last year, a 10 percent rise from 2011, after the change to energy swaps was made to avoid higher capital and margin charges mandated by the U.S. Dodd-Frank Act in October. Average daily volume at the Atlanta-based company’s exchanges dropped 1 percent in the fourth quarter compared with the year-earlier period, it said in a statement distributed by PR Newswire today.