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ICE Applauds Congressional Passage of Farm Bill
May 16, 2008 (08:05 AM EDT)
ATLANTA, May 16 /PRNewswire-FirstCall/ -- IntercontinentalExchange, Inc. , a leading operator of global exchanges and over-the-counter (OTC) markets, issued the following statement regarding Congressional passage of the Farm Bill:
ICE applauds Congressional passage of the Farm Bill, including the important provision relating to the Commodity Futures Trading Commission (CFTC) Reauthorization Act of 2008. ICE has supported the development of legislation designed to effectively recognize and address the complexities of OTC markets. The Farm Bill, passed by both houses of Congress earlier this week, places an appropriate level of regulation on contracts that serve a significant price discovery function and will further enhance market transparency. Since October of 2006, ICE has worked closely with the CFTC in reporting OTC market information, including the provision of daily large trader reports for its key natural gas contracts.
In addition to ICE's OTC markets, ICE also operates regulated futures exchanges in the U.S., Canada and Europe. ICE Futures U.S.(TM) is regulated by the CFTC, ICE Futures Canada(TM) is regulated by Canada's Manitoba Securities Commission, and ICE Futures Europe(TM) is regulated by the U.K.'s Financial Services Authority.
IntercontinentalExchange(R) www.theice.com is a leading operator of global exchanges and over-the-counter (OTC) markets. ICE offers futures and OTC markets on a single trading platform, including markets for crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities and financial products such as canola, cocoa, coffee, cotton, ethanol, orange juice, wood pulp, sugar, foreign currency and equity index futures and options. ICE(R) conducts its energy futures markets, including the leading oil benchmark contracts, through its London-based exchange, ICE Futures Europe(TM). ICE conducts its global agricultural commodity, foreign exchange and equity index futures markets through its U.S. and Canadian exchanges, ICE Futures U.S.(TM) and ICE Futures Canada(TM), and offers clearing services through ICE Clear U.S.(TM) and ICE Clear Canada(TM). ICE's state-of-the-art electronic trading platform serves market participants in more than 55 countries. ICE is included in the Russell 1000(R) Index and the S&P 500 Index. Headquartered in Atlanta, ICE has offices in Calgary, Chicago, Houston, London, New York, Singapore and Winnipeg. For more information, please visit .
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 such 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, 2007, as filed with the SEC on February 13, 2008.
CONTACT: Investors, Kelly Loeffler, VP, Investor Relations & Corp. firstname.lastname@example.orgCommunications, +1-770-857-4726, , or SarahStashak, Director, Investor & Public Relations, +1-770-857-0340,, both of IntercontinentalExchange, Inc.; or Media,Ellen G. Resnick of Crystal Clear Communications, +1-773-929-9292 (o),+1-312-399-9295 (c), , forIntercontinentalExchange, Inc.
Web site: http://www.theice.com/