NEW YORK, July 22 --

IntercontinentalExchange(R) (NYSE: ICE), a leading operator of regulated global
futures exchanges, clearing houses and over-the-counter (OTC) markets, announced
today that it has developed a solution that provides segregation of customer
funds and positions in credit default swap (CDS) clearing. The solution, which
will enable buy-side participation in CDS clearing, is expected to be introduced
in October 2009, subject to regulatory approval.

ICE’s buy-side solution offers a roadmap for the industry’s
transition to clearing based on participants’ specific risk management
needs, allowing firms to retain trading relationships and a range of competitive
execution models. The solution is designed to provide segregation of customer
funds and positions, as well as enhanced position and margin portability. The
expanded legal framework protects customer positions and collateral in the event
that a clearing member defaults on its obligations to the clearing house. These
customer protections, together with ICE’s rigorous CDS risk model, offer
increased security for buy-side market participants.

ICE’s buy-side solution also addresses systemic risk by supporting both
new trades and the existing backlog of outstanding OTC CDS contracts at the DTCC
Trade Information Warehouse (TIW). ICE’s offering accelerates
time-to-market by utilizing existing market infrastructure and incorporating
existing International Swaps and Derivatives Association (ISDA) agreements --
eliminating the need for lengthy renegotiation -- and supports existing
connectivity to all dealers, more than 400 buy-side firms and the TIW through
its ICE Link platform. ICE’s segregated funds structure was developed
through in-depth consultation with buy-side and sell-side market participants
and regulators.

Said Jeffrey Sprecher, Chairman and CEO of ICE: We recognize the important role
that a central counterparty plays in addressing systemic risk for all market
participants. Our segregated funds solution has been designed to provide robust
protections for buy-side firms and to ensure our CDS clearing offering serves
the needs of the entire CDS market.

Over the coming weeks, ICE will continue to consult with regulators and
actively test connectivity with buy-side firms in preparation for the October
introduction. Further details and updates to the timeline will be announced in
the coming weeks, subject to customer readiness and regulatory requirements.

ICE Clear Europe(R) has announced that it expects to begin clearing European
CDS transactions by July 31, 2009. Further information detailing the buy-side
solution for CDS clearing in Europe will be released following discussion with
relevant regulatory authorities and market participants. ICE Clear Europe is
supervised by the Financial Services Authority in accordance with the Financial
Services and Markets Act (FSMA). ICE Clear Europe is owned by ICE and
independently governed in accordance with the requirements of FSMA.

ICE Trust U.S. (ICE Trust(TM)) began clearing North American CDS indexes in
March 2009, and to date has cleared nearly US$1.6 trillion in notional value,
with open interest of US$172 billion. ICE Trust had over US$2 billion on deposit
in its guaranty fund as of the end of June. ICE Trust currently offers clearing
for North American CDS indexes. ICE Trust maintains an independent governance
structure and as a New York trust company and member of the Federal Reserve
System, is subject to direct regulation and supervision by the Federal Reserve
and the New York State Banking Department. Subject to compliance with certain
conditions, ICE Trust operates under exemptions from the Securities and Exchange
Commission (SEC) and the U.S. Treasury Department.

Over the past year, ICE has invested in extensive domain knowledge and a
comprehensive CDS infrastructure to serve buy-side and sell-side market
participants. These CDS assets include Creditex, a leading interdealer CDS trade
execution venue offering both electronic and voice execution markets; ICE Link,
the industry’s leading post-trade processing platform; and ICE Trust, the
leading clearing house for CDS markets. ICE’s expansion of CDS clearing
follows many successful initiatives already underway within the industry to
reduce systemic and operational risks. ICE has played a key role in recouponing,
portfolio compression, credit event auctions and now clearing.

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, respectively,
and CDS clearing through ICE Trust(TM). A component of the Russell 1000(R) and
SP 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.

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

Kelly Loeffler, VP, Investor Relations Corp. Communications, +1-770-857-4726,, or Sarah Stashak, Director, Investor Public
Relations, +1-770-857-0340,, both of