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$14.8 million and $9.1 million for the nine months ended September 30, 2011 and 2010, respectively, and $5.4 million and $7.0 million for the three months ended September 30, 2011 and 2010, respectively. The costs incurred during the nine and three months ended September 30, 2011 primarily related to the proposed acquisition of certain assets and liabilities of NYSE Euronext and the investment in Cetip (Note 4). The costs incurred during the nine and three months ended September 30, 2010 primarily related to the acquisition of Climate Exchange plc ("CLE") that closed in July 2010. The acquisition-related transaction costs include fees for investment banking advisors, lawyers, accountants, tax advisors and public relations firms, as well as costs associated with credit facilities and other external costs directly related to the proposed or closed transactions. Such amounts have been expensed in the accompanying consolidated statements of income as acquisition-related transaction costs. On April 1, 2011, the Company and NASDAQ OMX Group, Inc. ("NASDAQ OMX") issued a joint proposal to the board of directors of NYSE Euronext to acquire all of the outstanding shares of NYSE Euronext (the "Proposal"). The Company and NASDAQ OMX had agreed that if the transactions contemplated by the Proposal were consummated, the Company would have acquired NYSE Euronext's European derivatives businesses and certain other entities and assets of NYSE Euronext, together with their related liabilities, and that all remaining entities and assets of NYSE Euronext, together with their related liabilities, would have been retained by NASDAQ OMX. On May 16, 2011, the Company and NASDAQ OMX announced that following discussion with the Antitrust Division of the U.S. Department of Justice, they withdrew the Proposal to acquire NYSE Euronext. NYSE Euronext was at the time, and continues to be, a party to a definitive agreement to combine with Deutsche Börse AG. </div> 19400000 6500000 15400000 4800000 210000000 6500000 1700000 569000 31600000 0.124 514100000 <div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">2.</td> <td valign="top" align="left">Basis of Presentation </td></tr></table> The accompanying unaudited consolidated financial statements have been prepared by the Company in accordance with U.S. generally accepted accounting principles pursuant to the rules and regulations of the SEC regarding interim financial reporting. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements and should be read in conjunction with the Company's audited consolidated financial statements and related notes thereto for the year ended December 31, 2010. The accompanying unaudited consolidated financial statements reflect all adjustments that are, in the opinion of the Company's management, necessary for a fair presentation of results for the interim periods presented. These adjustments are of a normal recurring nature. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and accompanying disclosures. Although these estimates are based on management's best knowledge of current events and actions that the Company may undertake in the future, actual results may be different from these estimates. The results of operations for the nine months and three months ended September 30, 2011 are not necessarily indicative of the results to be expected for any future period or the full fiscal year. The accompanying unaudited consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. All intercompany balances and transactions between the Company and its wholly-owned and majority-owned subsidiaries have been eliminated in consolidation. </div> 772024000 256102000 889060000 301510000 30100000 110000000 304100000 514100000 3000000 100000000 150000000 50000000 <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="92%" align="center"> <tr><td width="45%"> </td> <td valign="bottom" width="9%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="9%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="9%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="9%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Number of Options</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Weighted Average Exercise Price</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Weighted Average Remaining Contractual Life (years)</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Aggregate Intrinsic Value (In thousands)</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Vested or expected to vest</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,117,807</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">71.13</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.7</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">59,039</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Exercisable</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">912,567</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">64.22</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.1</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">55,675</td> <td valign="bottom" nowrap="nowrap">  </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="92%" align="center"> <tr><td width="65%"> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center">Nine Months Ended September 30,</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center">Three Months Ended September 30,</td> <td valign="bottom"> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2010</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2010</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Basic:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Net income attributable to IntercontinentalExchange, Inc.</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">382,900</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">299,166</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">132,631</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">96,315</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Weighted average common shares outstanding</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">73,335</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">73,765</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">73,139</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">73,659</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Basic earnings per common share</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">5.22</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4.06</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.81</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.31</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Diluted:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Weighted average common shares outstanding</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">73,335</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">73,765</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">73,139</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">73,659</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Effect of dilutive securities:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Stock options and restricted shares</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">722</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">812</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">697</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">784</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Diluted weighted average common shares outstanding</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">74,057</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">74,577</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">73,836</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">74,443</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Diluted earnings per common share</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">5.17</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4.01</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.80</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.29</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table> 561018000 123120000 8714000 11504000 13800000 <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="92%" align="center"> <tr><td width="69%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Level 1</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Level 2</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Level 3</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Total</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Assets at fair value:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> U.S. Treasury securities</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,999</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,999</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Liabilities at fair value:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Interest rate swap contracts</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,504</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,504</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="92%" align="center"> <tr><td width="66%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Level 1</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Level 2</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Level 3</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Total</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Assets at fair value:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Long term investments in equity securities</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">400,217</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">400,217</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Liabilities at fair value:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Interest rate swap contracts</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">624</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">624</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table> 7800000 11500000 13337000 -31447000 5815868000 20518000 3155081000 2618968000 14173000 7128000 7738919000 13104000 4272023000 3430130000 17288000 6374000 0 0 34368000 34400000 10 5 388000 50 115 10 250 <div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">4.</td> <td valign="top" align="left">Cetip Investment </td></tr></table> The Company acquired 31.6 million shares, or approximately 12.4%, of the common stock of Cetip, S.A. ("Cetip") from two Cetip stockholders for an aggregate consideration of $514.1 million in cash on July 15, 2011. The transaction consideration consisted of $304.1 million from the Company's cash on hand and $210.0 million drawn from the Revolving Credit Facilities (Note 6). After the acquisition, the Company became the single largest shareholder in Cetip. The Company accounted for its investment in Cetip as an available-for-sale investment. Available-for-sale investments are carried at fair value with unrealized gains or losses reported as a component of accumulated other comprehensive income. As of September 30, 2011, the fair value of the equity security investment was $400.2 million, which was classified as a long-term investment in the Company's consolidated balance sheet, and the unrealized loss was $113.9 million for both the three and nine months ended September 30, 2011. The unrealized loss resulted from a decline in the stock price of Cetip from the acquisition date of July 15, 2011 to September 30, 2011, as well as foreign currency translation losses relating to the decrease in value of the Brazilian real relative to the U.S. dollar from July 15, 2011 through September 30, 2011. The Company's investment in Cetip was recorded in and is held in Brazilian reais. Investments that the Company intends to hold for more than one year are classified as long-term investments. The Company has appointed a representative to Cetip's board of directors. Cetip is a publicly traded company and is Brazil's leading operator of registration and custodial services for securities, fixed-income bonds and OTC derivatives. Cetip offers registration, custody, trading, clearing and settlement to its customers, including banks, brokerage houses, securities dealers, leasing companies, insurance companies, investment funds and pension funds. </div> 3500000 1722000000 125000000 3378000 2507300000 210000000 21000000 3800000 1200000 4600000 1600000 83600000 September 2008 June 2014 June 30, 2017 1 22712281000 76165000 8244625000 13699034000 660714000 31743000 34460109000 43467000 13094644000 20010867000 1289154000 11500000000 21977000 8500000000 <div class="MetaData"> As of September 30, 2011, original margin, unsettled variation margin, Guaranty Fund and performance collateral for delivery cash deposits are as follows for the ICE Clearing Houses (in thousands): <div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td width="47%">  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td></tr> <tr><td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear U.S. </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Europe </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Canada </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Credit </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">TCC </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Total </td> <td valign="bottom">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Original margin </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">1,233,536 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">16,580,737 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">26,449 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">8,822,621 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">15,560 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">26,678,903 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr><td valign="top"> Unsettled variation margin </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">38,330 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">43 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">38,373 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Guaranty Fund </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">17,288 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,430,130 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">13,104 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">4,272,023 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">6,374 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">7,738,919 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr><td valign="top"> Performance collateral for delivery cash deposits </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,914 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,914 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Total </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">1,289,154 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">20,010,867 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">43,467 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">13,094,644 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">21,977 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">34,460,109 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr></table> As of December 31, 2010, original margin, unsettled variation margin, Guaranty Fund and performance collateral for delivery cash deposits are as follows for the ICE Clearing Houses (in thousands): <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td width="49%">  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td></tr> <tr><td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear U.S. </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Europe </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Canada </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Credit </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">TCC </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Total </td> <td valign="bottom">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Original margin </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">603,001 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">11,062,978 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">51,781 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">5,089,544 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">22,929 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">16,830,233 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr><td valign="top"> Variation margin </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">43,540 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">1,686 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">45,226 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Guaranty Fund </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">14,173 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">2,618,968 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">20,518 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,155,081 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">7,128 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">5,815,868 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr><td valign="top"> Performance collateral for delivery </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">17,088 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,866 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">20,954 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Total </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">660,714 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">13,699,034 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">76,165 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">8,244,625 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">31,743 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">22,712,281 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr></table></div></div> 58400000000 22712281000 34460109000 0.20 0.10 81567000 27528000 92331000 32212000 1600000000000 1 58500000 16830233000 51781000 5089544000 11062978000 603001000 22929000 26678903000 26449000 8822621000 16580737000 1233536000 15560000 -894000 -894000 1990000 0.17 0.12 0.11 0.16 0.12 0.11 0.16 0.15 0.12 0.18 0.15 0.12 20954000 3866000 17088000 3914000 3914000 0 -13807000 -13807000 11504000 11504000 125000 -93000 <div> <div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">10.</td> <td valign="top" align="left">Russell Licensing Agreement </td></tr></table> The Company has an exclusive licensing agreement (the "Licensing Agreement") with the Russell Investment Group ("Russell") to offer futures and options on futures contracts based on the full range of Russell's benchmark U.S. equity indexes. These rights became exclusive in September 2008, and subject to achieving a specified trading volume for the various indexes, will remain exclusive throughout the remainder of the Licensing Agreement, which originally expired in June 2014. In March 2011, the Company entered into an amendment to the Licensing Agreement that extended the term of the agreement through June 30, 2017 and also expanded the agreement to cover the exclusive listing of futures and options on futures contracts on certain of Russell's benchmark international equity indexes. In connection with the amendment, the Company increased the Russell license-related intangible assets and liabilities by $34.4 million. In exchange for the license rights, the Company paid Russell $50.0 million in 2007 and will also make annual cash payments based on the annual contract trade volumes, subject to certain minimum annual royalty payments through the expiration of the agreement in June 2017. The Company has recorded the license rights as intangible assets, which were valued based on the net present value of all minimum annual royalty payments that the Company is required to make to Russell throughout the term of the agreement. As of September 30, 2011 and December 31, 2010, the net assets related to the Licensing Agreement are $109.6 million and $90.7 million, respectively, and are included in other intangible assets in the accompanying consolidated balance sheets. The intangible assets are being amortized on a straight-line basis over their revised contractual life. For the nine months ended September 30, 2011 and 2010, amortization expense relating to the Licensing Agreement was $15.4 million and $19.4 million, respectively, and for the three months ended September 30, 2011 and 2010, amortization expense was $4.8 million and $6.5 million, respectively. Because the Company is required to make minimum annual royalty payments to maintain the Russell license rights, the Company has recorded a liability based on the net present value of the total required minimum royalty payments as of the effective date of the Licensing Agreement. As of September 30, 2011, the current and noncurrent liabilities relating to the minimum annual royalty payments under the Licensing Agreement are $21.0 million and $83.6 million, respectively, and are reflected as licensing agreement liabilities in the accompanying consolidated balance sheet. The difference between the present value of the payments and the actual payments is recorded as interest expense using the effective interest method over the term of the Licensing Agreement. For the nine months ended September 30, 2011 and 2010, interest expense relating to the Licensing Agreement was $4.6 million and $3.8 million, respectively, and for the three months ended September 30, 2011 and 2010, interest expense was $1.6 million and $1.2 million, respectively.</div></div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td width="35%">  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td></tr> <tr><td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="18" align="center">As of September 30, 2011 </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center">As of December 31, 2010 </td> <td valign="bottom">  </td></tr> <tr><td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear U.S. </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Europe </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Canada </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">TCC </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Credit </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear U.S. </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Europe </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Canada </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">TCC </td> <td valign="bottom">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Original margin: </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td></tr> <tr><td valign="top"> Government securities at face value </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">12,762,458 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">5,045,323 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">78,403 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">43,250 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">607,867 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">10,734,273 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">4,256,508 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">55,009 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">73,085 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Money market mutual funds </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">1,693,608 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">1,109,420 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr><td valign="top"> Letters of credit </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">210,000 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">2,507,300 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,378 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">125,000 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">1,722,000 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,500 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Emissions allowances </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">123,120 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">561,018 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr> <tr><td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">14,666,066 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">7,675,743 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">81,781 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">43,250 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">607,867 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">11,968,693 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">6,539,526 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">58,509 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">73,085 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Guaranty Fund: </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td></tr> <tr><td valign="top"> Government securities at face value </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">215,003 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">366,840 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">28,763 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">7,547 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">228,421 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">204,405 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">138,412 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">20,083 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">4,347 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Money market mutual funds </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">23,994 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">20,829 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr> <tr><td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">238,997 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">366,840 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">28,763 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">7,547 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">228,421 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">225,234 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">138,412 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">20,083 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">4,347 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr></table> 0.10 60.97 292173 417390 166956 83478 <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr><td width="60%"> </td> <td valign="bottom" width="13%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="13%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Number of Restricted Stock Shares</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Weighted Average Grant-Date Fair Value per Share</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Nonvested at December 31, 2010</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">704,010</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">99.53</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Granted</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">729,281</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">112.74</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Vested</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(261,843</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">103.70</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Forfeited</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(30,202</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">108.11</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Nonvested at September 30, 2011</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,141,246</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">107.31</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr><td width="64%"> </td> <td valign="bottom" width="11%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="11%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Number of Options</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Weighted Average Exercise Price Per Option</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Outstanding at December 31, 2010</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,275,792</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">56.73</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Granted</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">123,663</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">112.48</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Exercised</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(279,534</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">23.71</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Forfeited or expired</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(2,114</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">73.06</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Outstanding at September 30, 2011</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,117,807</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">71.13</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="68%" align="center"> <tr><td width="89%"> </td> <td valign="bottom" width="8%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" nowrap="nowrap"> Assumptions</td> <td valign="bottom">  </td> <td valign="bottom" colspan="2"> </td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Risk-free interest rate</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.46</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr><td valign="top"> Expected life in years</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.0</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Expected volatility</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">72</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr><td valign="top"> Expected dividend yield</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Estimated weighted-average fair value per share</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">60.97</td> <td valign="bottom" nowrap="nowrap">  </td></tr></table> 20083000 138412000 225234000 4347000 28763000 228421000 366840000 238997000 7547000 58509000 6539526000 11968693000 73085000 81781000 607867000 7675743000 14666066000 43250000 2971978000 3344667000 55000000 45226000 43540000 1686000 38373000 38330000 43000

65162000

79480000

114456000

159219000

6307000

49481000

37740000

-74671000

1745424000

1810929000

51730000

42288000

6892000

3264000

72613000

149311000

1857000

2304000

4322000

4572000

57325000

245000

248000

26642259000

38666730000

23575778000

35222949000

<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">9. </td> <td valign="top" align="left">Clearing Organizations </td></tr></table> The Company operates five regulated central counterparty clearing houses for the settlement and clearance of derivative contracts. ICE Clear U.S. performs the clearing and settlement of every futures and options contract traded through ICE Futures U.S. and ICE Clear Canada performs the clearing and settlement for every futures and options contract traded through ICE Futures Canada. ICE Clear Credit performs the clearing and settlement for North American CDS contracts submitted for clearing. ICE Clear Europe performs the clearing and settlement for every futures and options contract traded through ICE Futures Europe, as well as for the Company's cleared OTC energy contracts and for European CDS contracts submitted for clearing. TCC performs clearing and settlement services to its participants for trades in Chicago Climate Futures Exchange futures contracts. ICE Clear U.S., ICE Clear Europe, ICE Clear Canada, ICE Clear Credit and TCC are referred to herein collectively as the "ICE Clearing Houses". Each of the ICE Clearing Houses requires all clearing members to maintain cash on deposit or pledge certain assets, which may include government obligations, money market mutual fund shares, certificates of deposit, letters of credit, gold or emission allowances to guarantee performance on the clearing members' open positions. Such amounts in total are known as "original margin". The ICE Clearing Houses may make multiple intraday original margin calls in circumstances where market conditions require additional protection. The daily payment of profits and losses from and to the ICE Clearing Houses in respect of relevant contracts is known as "variation margin". The ICE Clearing Houses mark all outstanding contracts to market, and therefore pay and collect variation margin, at least once daily, and in some cases throughout the day. Mark-to-market allows our clearing houses to identify quickly any clearing members that may not be able to satisfy the financial obligations resulting from changes in the prices of their open contracts before those financial obligations become exceptionally large and jeopardize the ability of the ICE Clearing Houses to ensure financial performance of their open positions. Each of the ICE Clearing Houses requires that each clearing member make deposits into a fund known as a guaranty or clearing fund ("Guaranty Fund"), which is maintained by the relevant ICE Clearing House. These amounts serve to secure the obligations of a clearing member to the ICE Clearing House to which it has made the Guaranty Fund deposits and may be used to cover losses sustained by the respective ICE Clearing House in the event of a default of a clearing member. For ICE Clear Canada, all income earned from investing clearing members' cash deposits in the Guaranty Fund and from the cash margin deposits, and for ICE Clear U.S., all income earned from investing clearing members' cash deposits in the Guaranty Fund and from the cash variation margin deposits, is retained by the respective ICE Clearing House and is included in other revenues in the accompanying consolidated statements of income. All other interest earned on the cash margin deposits, less costs incurred by the ICE Clearing Houses, is remitted by the respective ICE Clearing Houses to the clearing members. Pursuant to agreements, ICE Clear Europe pays energy clearing members all interest earned on their cash margin deposits plus an additional 115 basis points on cash deposits made to the Guaranty Fund and, prior to January 1, 2011, an additional 10 basis points for cash deposits made for original margin requirements. These additional amounts paid to the energy clearing members are recorded net against other revenues in the accompanying consolidated statements of income. Effective January 1, 2011, ICE Clear Europe no longer pays energy clearing members the additional 10 basis points for cash deposits made for original margin requirements. Each of the ICE Clearing Houses has equal and offsetting claims to and from their respective clearing members on opposite sides of each contract, standing as the central financial counterparty on every contract cleared. Each ICE Clearing House bears financial counterparty credit risk in the event that market movements create conditions that could lead to its clearing members failing to meet their financial obligations to that ICE Clearing House. Accordingly, the ICE Clearing Houses account for this central counterparty guarantee as a performance guarantee. Given that each contract is margined and settled on at least a daily basis for each clearing member, the ICE Clearing Houses' maximum estimated exposure for this guarantee, excluding the risk management program discussed below, is $43 billion as of September 30, 2011, which represents the maximum estimated value by the ICE Clearing Houses of a hypothetical one day movement in pricing of the underlying unsettled contracts. This amount is based on calculations determined using proprietary risk management software that simulates gains and losses based on historical market prices, volatility and other factors present at that point in time for those particular unsettled contracts. Future actual market price volatility could result in the exposure being significantly different than the amount estimated by the ICE Clearing Houses. The net notional value of the unsettled contracts was $1.6 trillion as of September 30, 2011. The Company performed calculations to determine the fair value of its counterparty performance guarantee as of September 30, 2011 taking into consideration factors such as daily settlement of contracts, margining requirements, other elements of the Company's risk management program, historical evidence of default payments, and estimated probability of potential default payouts by the ICE Clearing Houses. Based on these analyses, the estimated liability was determined to be nominal and no liability was recorded as of September 30, 2011. The ICE Clearing Houses seek to reduce their exposure through a risk management program that includes initial and ongoing financial standards for clearing member admission and continued membership, original and variation margin requirements, and mandatory deposits to the Guaranty Fund. The amounts that the clearing members are required to maintain in the original margin and Guaranty Fund accounts are determined by standardized parameters established by the margin or risk committees, risk management departments and the boards of directors of each of the ICE Clearing Houses and may fluctuate over time. As of September 30, 2011, the ICE Clearing Houses have received or have been pledged $58.4 billion in cash and non-cash collateral in original margin, variation margin, performance collateral for delivery and Guaranty Fund deposits to cover movements in the pricing of the underlying contracts. The ICE Clearing Houses also have powers of assessment that provide the ability to collect additional funds from their clearing members to cover a defaulting member's remaining obligations up to the limits established under the terms of each ICE Clearing House's rules. Should a particular clearing member fail to deposit original margin, or to make a variation margin payment, when and as required, the relevant ICE Clearing House may liquidate or hedge the clearing member's open positions and use the clearing member's original margin and Guaranty Fund deposits to make up the amount owed. In the event that those deposits are not sufficient to pay that owed amount in full, the ICE Clearing Houses may utilize the respective Guaranty Fund deposits of all clearing members pro rata for that purpose. In addition, the Company has contributed $110.0 million and $30.1 million to the ICE Clear Europe and ICE Clear Credit Guaranty Funds, respectively, as of September 30, 2011. <div class="MetaData"> As of September 30, 2011, original margin, unsettled variation margin, Guaranty Fund and performance collateral for delivery cash deposits are as follows for the ICE Clearing Houses (in thousands): <div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td width="47%">  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td></tr> <tr><td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear U.S. </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Europe </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Canada </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Credit </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">TCC </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Total </td> <td valign="bottom">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Original margin </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">1,233,536 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">16,580,737 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">26,449 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">8,822,621 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">15,560 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">26,678,903 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr><td valign="top"> Unsettled variation margin </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">38,330 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">43 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">38,373 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Guaranty Fund </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">17,288 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,430,130 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">13,104 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">4,272,023 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">6,374 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">7,738,919 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr><td valign="top"> Performance collateral for delivery cash deposits </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,914 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,914 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Total </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">1,289,154 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">20,010,867 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">43,467 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">13,094,644 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">21,977 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">34,460,109 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr></table> As of December 31, 2010, original margin, unsettled variation margin, Guaranty Fund and performance collateral for delivery cash deposits are as follows for the ICE Clearing Houses (in thousands): <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td width="49%">  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="2%">  </td> <td>  </td> <td>  </td> <td>  </td></tr> <tr><td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear U.S. </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Europe </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Canada </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Credit </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">TCC </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Total </td> <td valign="bottom">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Original margin </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">603,001 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">11,062,978 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">51,781 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">5,089,544 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">22,929 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">16,830,233 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr><td valign="top"> Variation margin </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">43,540 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">1,686 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">45,226 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Guaranty Fund </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">14,173 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">2,618,968 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">20,518 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,155,081 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">7,128 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">5,815,868 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr><td valign="top"> Performance collateral for delivery </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">17,088 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,866 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">  </td> <td valign="bottom" align="right">20,954 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Total </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">660,714 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">13,699,034 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">76,165 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">8,244,625 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">31,743 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">   </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">22,712,281 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">   </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr></table></div></div> The Company has recorded these cash deposits in the accompanying consolidated balance sheets as current assets with corresponding current liabilities to the clearing members of the relevant ICE Clearing House. All cash, securities and letters of credit are only available to meet the financial obligations of that clearing member to the relevant ICE Clearing House. ICE Clear U.S., ICE Clear Europe, ICE Clear Canada, ICE Clear Credit and TCC are separate legal entities and are not subject to the liabilities of the other ICE Clearing Houses or the obligations of the members of the other ICE Clearing Houses. The amount of these cash deposits may fluctuate due to the types of margin collateral choices available to clearing members and the change in the amount of deposits required. As a result, these assets and corresponding liabilities may vary significantly over time. Of the $20.0 billion total cash deposits for ICE Clear Europe as of September 30, 2011, the majority of which are held in euros, $8.5 billion relates to futures and OTC energy products and $11.5 billion relates to cleared OTC European CDS contracts. ICE Clear Europe offers a separate clearing platform, risk model and risk pool for cleared futures and OTC energy products that is distinct from those associated with cleared OTC European CDS contracts and, as such, energy participants and CDS participants are not subject to the liabilities or obligations of one another in the event of a default. ICE Clear Credit previously held all of its cash deposits in the ICE Trust Federal Reserve account, however this was discontinued when ICE Clear Credit transitioned from a limited liability trust company to a DCO on July 16, 2011. The $13.1 billion of ICE Clear Credit cash deposits as of September 30, 2011 primarily represents funds invested under reverse repurchase agreements with several counterparty banks, none of which are clearing members, through a third party custodian bank. Under these arrangements, ICE Clear Credit utilizes reverse repos in which it purchases U.S. Treasury securities and the various counterparties agree to repurchase the instruments the following business day at the set price, plus interest. Of the $20.0 billion of ICE Clear Europe cash deposits as of September 30, 2011, $19.1 billion represent funds invested under reverse repurchase agreements with several different counterparty banks, all of which are large, commercial financial institutions, through a third party custodian bank. Under these arrangements, ICE Clear Europe primarily purchases U.S. Treasury securities and certain sovereign debt obligations from the seven largest industrialized nations, and the various counterparties agree to repurchase the instruments on the set repurchase date at the set repurchase price, plus interest. The carrying value of these securities approximates their fair value due to the short-term nature of the instruments. The remaining cash deposits are held in demand deposit accounts at various financial institutions. In addition to the cash deposits for original margin, variation margin, and the Guaranty Fund made to the ICE Clearing Houses, clearing members also pledge assets, which may include government obligations, money market mutual fund shares, certificates of deposit, letters of credit, gold or emission allowances to the ICE Clearing Houses to mitigate its credit risk. These assets are not reflected in the accompanying consolidated balance sheets as the ICE Clearing Houses do not take legal ownership of the assets as the risks and rewards remain with the clearing members. The ICE Clearing Houses have the ability to access the accounts at the financial institutions and depositories where these assets are held in the event of a clearing member default. These assets are held in safekeeping and any interest and gain or loss accrues to the clearing member. For certain non-cash deposits, the ICE Clearing Houses may impose haircut rates to ensure adequate collateral levels to account for fluctuations in the market value of these deposits. ICE Clear Europe pays energy clearing members all interest earned on their non-cash margin deposits plus an additional 50 basis points on non-cash deposits made to the Guaranty Fund and ICE Clear Europe charges energy clearing members 5 basis points for non-cash deposits made for original margin requirements. ICE Clear Europe pays CDS clearing members all interest earned on their non-cash margin deposits and charges CDS clearing members 5 basis points for all non-cash deposits, including original margin and Guaranty Fund requirements. The amounts paid to the clearing members are recorded net against other revenues in the accompanying consolidated statements of income and in total were $569,000 and $6.5 million for the nine months ended September 30, 2011 and 2010, respectively, and $1.7 million for the three months ended September 30, 2010. As of September 30, 2011 and December 31, 2010, the assets pledged by the clearing members as original margin and Guaranty Fund deposits for each of the other ICE Clearing Houses are detailed below (in thousands): <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td width="35%">  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td> <td valign="bottom" width="1%">  </td> <td>  </td> <td>  </td> <td>  </td></tr> <tr><td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="18" align="center">As of September 30, 2011 </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center">As of December 31, 2010 </td> <td valign="bottom">  </td></tr> <tr><td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear U.S. </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Europe </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Canada </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">TCC </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Credit </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear U.S. </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Europe </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">ICE Clear Canada </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">TCC </td> <td valign="bottom">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Original margin: </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td></tr> <tr><td valign="top"> Government securities at face value </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">12,762,458 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">5,045,323 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">78,403 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">43,250 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">607,867 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">10,734,273 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">4,256,508 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">55,009 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">73,085 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Money market mutual funds </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">1,693,608 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">1,109,420 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr><td valign="top"> Letters of credit </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">210,000 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">2,507,300 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,378 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">125,000 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">1,722,000 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">3,500 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Emissions allowances </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">123,120 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">561,018 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr> <tr><td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">14,666,066 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">7,675,743 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">81,781 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">43,250 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">607,867 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">11,968,693 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">6,539,526 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">58,509 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">73,085 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Guaranty Fund: </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td></tr> <tr><td valign="top"> Government securities at face value </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">215,003 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">366,840 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">28,763 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">7,547 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">228,421 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">204,405 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">138,412 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">20,083 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">4,347 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Money market mutual funds </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">23,994 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">20,829 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom" align="right">—   </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr> <tr><td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">238,997 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">366,840 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">28,763 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">7,547 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">228,421 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">225,234 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">138,412 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">20,083 </td> <td valign="bottom" nowrap="nowrap">   </td> <td valign="bottom">  </td> <td valign="bottom">$ </td> <td valign="bottom" align="right">4,347 </td> <td valign="bottom" nowrap="nowrap">   </td></tr> <tr style="font-size: 1px;"><td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td>  </td></tr></table>

9062000

7019000

14760000

5446000

552465000

539198000

621792000

497303000

-13267000

-124489000

0.01

194275000

78449000

79099000

73303000

72710000

785000

791000

328948000

125677000

270489000

-118000

6792000

3598000

8574000

4317000

335740000

129275000

279063000

4199000

2013-03-31

-19833000

-7279000

268249000

240669000

1200000000

87867000

32416000

55332000

119000

31739000

13790000

17909000

40000

99063000

38073000

60945000

45000

33095000

12287000

20799000

9000

2504000

624000

-15080000

4.06

1.31

5.22

1.81

4.01

1.29

5.17

1.80

0.33

0.32

0.30

0.25

0.28

0.26

797000

-107000

53769000

44946000

9700000

31000000

43800000

18100000

9500000

1.7

2.0

5816000

2869000

5816000

2869000

1999000

1916055000

1901880000

<div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">5.</td> <td valign="top" align="left">Goodwill and Other Intangible Assets </td></tr></table> The following is a summary of the activity in the goodwill balance for the nine months ended September 30, 2011 (in thousands):   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="68%" align="center"> <tr><td width="85%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Goodwill balance at December 31, 2010</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,916,055</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Earn-out relating to prior acquisition</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">13,337</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Foreign currency translation</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,935</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Other activity</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(31,447</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Goodwill balance at September 30, 2011</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,901,880</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table> The following is a summary of the activity in the other intangible assets balance for the nine months ended September 30, 2011 (in thousands):   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="68%" align="center"> <tr><td width="87%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Other intangible assets balance at December 31, 2010</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">890,818</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Russell licensing agreement amendment (Note 10)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">34,368</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Foreign currency translation</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,547</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Other activity</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,990</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Amortization of other intangible assets</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(57,325</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Other intangible assets balance at September 30, 2011</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">872,398</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table> The earn-out adjustment to goodwill relates to additional stock consideration paid to the former owners of a business previously acquired by the Company based on certain market and financial targets that were met through June 30, 2011. This previous acquisition was originally accounted for under the provisions of Statement of Financial Accounting Standards No. 141, Business Combinations. As of September 30, 2011, there are no remaining potential earn-out payments relating to prior acquisitions. The foreign currency translation adjustments result from a portion of the Company's goodwill and other intangible assets being held at the Company's U.K. and Canadian subsidiaries, whose functional currencies are not the U.S. dollar. The other activity in the goodwill and other intangible assets balances relates to adjustments to the purchase price and related goodwill for acquisitions completed in 2010, primarily relating to tax adjustments due to rate changes and deferred taxes, offset by goodwill and other intangibles recognized from the acquisition of Ballista Securities in February 2011. Ballista Securities is a U.S. broker-dealer and Alternative Trading System registered with the SEC and Financial Industry Regulatory Authority that offers an electronic options platform for the execution of block-sized and complex multi-leg options transactions. The Company did not recognize any impairment losses on goodwill or other intangible assets during the nine months or three months ended September 30, 2011 and 2010. </div>

3935000

43000000000

459792000

147241000

575627000

196455000

186782000

122627000

153834000

47328000

184153000

59507000

-3537000

-2090000

22193000

45211000

-14131000

74536000

-2024000

378000

7537000

12184000

13626000

-11198000

35200000

812000

784000

722000

697000

2547000

<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="68%" align="center"> <tr><td width="87%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Other intangible assets balance at December 31, 2010</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">890,818</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Russell licensing agreement amendment (Note 10)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">34,368</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Foreign currency translation</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,547</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Other activity</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,990</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Amortization of other intangible assets</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(57,325</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Other intangible assets balance at September 30, 2011</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">872,398</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>

890818000

90700000

872398000

109600000

22123000

7511000

24821000

8244000

9290000

12053000

624000

1544000

478000

2742000

908000

400200000

179696000

62586000

187951000

64137000

23825494000

35655598000

26642259000

38666730000

23127384000

34928700000

698110000

726898000

50000000

35100000

111500000

210000000

37500000

74000000

280000000

203000000

3000000

150000000

50000000

210000000

111500000

210000000

0.02250

0.02235

0.0426

0.0436

725000000

391500000

575000000

150000000

212000000

252750000

231500000

325750000

370000000

400217000

39215000

37322000

-1404000

-10467000

-4500000

-2629000

-1871000

9469000

-9469000

8574000

-8574000

20829000

1109420000

23994000

1693608000

<div> <div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">1.</td> <td valign="top" align="left">Nature of Business and Organization </td></tr></table> IntercontinentalExchange, Inc. (the "Company") is a leading operator of global regulated futures exchanges, clearing houses and over-the-counter ("OTC") markets for commodities and derivative financial products. The Company owns and operates:   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left"></td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> ICE Futures Europe, which operates as a United Kingdom ("U.K.") Recognized Investment Exchange for the purpose of price discovery, trading and risk management within the energy and environmental commodity futures and options markets; </td></tr></table>   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left"></td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> ICE Futures U.S., Inc. ("ICE Futures U.S."), which operates as a United States ("U.S.") Designated Contract Market ("DCM") for the purpose of price discovery, trading and risk management within the agricultural commodity, equity index and currency futures and options markets; </td></tr></table>   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left"></td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> ICE Futures Canada, Inc. ("ICE Futures Canada"), which operates as a Canadian derivatives exchange for the purpose of price discovery, trading and risk management within the agricultural futures and options markets; </td></tr></table>   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left"></td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> ICE U.S. OTC Commodity Markets, LLC, an OTC exempt commercial market ("ECM") for energy commodities and derivatives; </td></tr></table>   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left"></td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Creditex Group Inc. ("Creditex"), which operates in the OTC credit default swap ("CDS") trade execution markets; and </td></tr></table>   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left"></td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> Five central counterparty clearing houses, including ICE Clear Europe Limited ("ICE Clear Europe"), ICE Clear U.S., Inc. ("ICE Clear U.S."), ICE Clear Canada, Inc. ("ICE Clear Canada"), ICE Clear Credit LLC ("ICE Clear Credit") and The Clearing Corporation ("TCC"). </td></tr></table> ICE Clear Credit was formerly known as ICE Trust U.S. LLC ("ICE Trust"), which was previously regulated by the Federal Reserve and the New York State Banking Department as a limited liability trust company. Effective July 16, 2011, ICE Trust became a Commodity Futures Trading Commission ("CFTC") regulated Derivatives Clearing Organization ("DCO") and Securities and Exchange Commission ("SEC") regulated securities clearing agency. To recognize its transition from a limited liability trust company, ICE Trust converted from a New York trust company to a Delaware limited liability company and changed its name to ICE Clear Credit. </div></div>

225915000

-114683000

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378571000

540785000

299166000

96315000

382900000

132631000

6792000

3598000

8574000

4317000

-33876000

-4317000

-22898000

-7594000

371253000

135588000

401751000

136729000

493668000

260534000

186367000

46767000

151558000

74109000

61850000

15599000

598525000

330776000

215549000

52200000

204049000

114777000

70974000

18298000

18268000

20972000

60325000

83595000

20931000

24492000

-265000

-1759000

-113883000

484000

735000

1177000

380000

29563000

30386000

295000

-19246000

13182000

201000

484000

12497000

-112411000

1177000

-113883000

295000

18847000

42212000

43786000

32634000

2101000

-657000

-13297000

2716000

-819000

-258000

15080000

304100000

90395000

125208000

10240000

3859000

514097000

552958000

3200000

3793000

17424000

19447000

19603000

23144000

1404000

10467000

0.01

25000000

52136000

42941000

620000000

210000000

-5984000

4000000

1999000

10336000

6627000

24840000

8262000

24970000

8743000

305958000

407767000

99913000

391474000

136948000

94503000

99114000

293500000

187000000

75113000

63377000

23400000

144174000

145680000

1447423000

1830323000

11330000

3516000

18885000

7056000

864921000

380516000

438202000

46203000

287146000

125038000

146578000

15530000

1000276000

469183000

474901000

56192000

340778000

157740000

163386000

19652000

92490000

22990000

44540000

24960000

31928000

7627000

15861000

8440000

106903000

25430000

55946000

25527000

35930000

8691000

18439000

8800000

<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="68%" align="center"> <tr><td width="85%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Goodwill balance at December 31, 2010</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,916,055</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Earn-out relating to prior acquisition</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">13,337</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Foreign currency translation</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,935</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Other activity</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(31,447</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Goodwill balance at September 30, 2011</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,901,880</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>

<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">6.</td> <td valign="top" align="left">Credit Facilities</td></tr></table> As of September 30, 2011, the Company has an aggregate $725.0 million three-year senior unsecured revolving credit facilities (the "Revolving Credit Facilities") with Wells Fargo Bank, National Association, as Administrative Agent, Bank of America, N.A., as Syndication Agent, and the lenders named therein. The Revolving Credit Facilities consist of (i) an aggregate $575.0 million unsecured revolving U.S. dollar credit facility (the "Dollar Facility"), pursuant to which the Company may borrow, repay and reborrow up to $575.0 million in U.S. dollars, and (ii) an aggregate $150.0 million unsecured revolving multicurrency credit facility, pursuant to which the Company may borrow, repay and reborrow up to the U.S. dollar equivalent of $150.0 million in U.S. dollars, euros or pounds sterling, at the option of the Company (the "Multicurrency Facility"). The Revolving Credit Facilities mature on March 31, 2013. The Company acquired approximately 12.4% of the common stock of Cetip for $514.1 million in cash on July 15, 2011 (Note 4). The transaction consideration consisted of $304.1 million from the Company's cash on hand and $210.0 million drawn from the Dollar Facility under the Revolving Credit Facilities. As of September 30, 2011, the Company has a LIBOR-rate loan with a stated interest rate of 2.25% per annum related to the $210.0 million that is outstanding under the Revolving Credit Facilities, which is required to be repaid on or before March 31, 2013. Of the amounts available under the Revolving Credit Facilities, (i) $150.0 million of such amounts has been reserved to provide liquidity for the clearing operations of ICE Clear Europe, (ii) $100.0 million of such amounts has been reserved to provide liquidity for the clearing operations of ICE Clear Credit, (iii) $50.0 million of such amounts has been reserved to provide liquidity for the clearing operations of ICE Clear U.S., and (iv) $3.0 million of such amounts has been reserved to provide liquidity for certain of the clearing operations of ICE Clear Canada. After factoring in the $210.0 million borrowed under the Revolving Credit Facilities for the Cetip investment, the remaining $212.0 million available under the Revolving Credit Facilities may be used by the Company for working capital and general corporate purposes. Subsequent to September 30, 2011, the Company borrowed $203.0 million under the Revolving Credit Facilities for liquidity purposes for three of its clearing houses in preparation for the management of the insolvency of a member of their clearing houses. Of the $203.0 million borrowing, $150.0 million was borrowed under the reserved amount of ICE Clear Europe, $50.0 million was borrowed under the reserved amount for ICE Clear U.S. and $3.0 million was borrowed under the reserved amount for ICE Clear Canada. The $100.0 million reserved for ICE Clear Credit remains reserved and is the only amount remaining as reserved capacity for our clearing houses. The clearing houses may not need to use the borrowed funds and when the Company repays the amounts borrowed for the three clearing houses, the reserved amounts for ICE Clear Europe, ICE Clear U.S. and ICE Clear Canada will be replenished based on the corresponding amount that has been repaid. As of September 30, 2011, the Company had an aggregate of $391.5 million outstanding under various term loans, of which $280.0 million is outstanding under a three-year senior unsecured term loan and $111.5 million in aggregate is outstanding under two additional term loans. Amounts repaid under the term loans may not be reborrowed. As of September 30, 2011, the Company has a LIBOR-rate loan with a stated interest rate of 2.235% per annum related to the $280.0 million term loan. The Company previously entered into interest rate swap contracts to reduce its exposure to interest rate volatility on the two outstanding term loans with a balance of $111.5 million as of September 30, 2011. The interest rate swaps require the Company to pay a fixed interest rate of 4.26% per annum on one term loan, of which $37.5 million is outstanding as of September 30, 2011, and 4.36% per annum on the other term loan, of which $74.0 million is outstanding as of September 30, 2011. In return, the Company will receive the one-month LIBOR-rate plus 250 basis points. The interest rate swaps are effective through the maturity dates of the term loans in 2012. These swaps are designated as cash flow hedges. The effective portion of unrealized gains or losses on derivatives designated as cash flow hedges are recorded in accumulated other comprehensive income. The unrealized gain or loss is recognized in earnings when the designated interest expense under the term loans is recognized in earnings. Any portion of the hedges that is ineffective is recognized in earnings immediately. To date, the hedges have been perfectly effective. The amounts received under the variable component of the swaps fully offset the variable interest payments under the term loan facilities. With the two variable components offsetting, the net interest expense is equal to the fixed interest component. The fair value of the interest rate swaps as of September 30, 2011 is a liability of $624,000, or $388,000 net of taxes, and is included in the accompanying balance sheet in non-current liabilities with the unrealized loss included under the equity section as accumulated other comprehensive loss from cash flow hedges. The credit facilities contain affirmative and negative covenants, including, but not limited to, leverage and interest coverage ratios, as well as limitations or required notices or approvals for acquisitions, dispositions of assets and certain investments in subsidiaries, the incurrence of additional debt or the creation of liens and other fundamental changes to the Company's business. As of September 30, 2011, the Company was in compliance with all applicable covenants.

<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td width="45%"> </td> <td valign="bottom" width="1%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="1%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="1%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="1%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="1%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="1%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="1%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="1%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center">Nine Months Ended September 30, 2011</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center">Nine Months Ended September 30, 2010</td> <td valign="bottom"> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Global OTC Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Futures Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Market Data Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Total</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Global OTC Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Futures Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Market Data Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Total</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Revenues from external customers</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">474,901</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">469,183</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">56,192</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,000,276</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">438,202</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">380,516</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">46,203</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">864,921</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Intersegment revenues</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">55,946</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">25,430</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">25,527</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">106,903</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">44,540</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">22,990</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">24,960</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">92,490</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Depreciation and amortization</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">60,945</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">38,073</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">45</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">99,063</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">55,332</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">32,416</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">119</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">87,867</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Operating income</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">215,549</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">330,776</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">52,200</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">598,525</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">186,367</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">260,534</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">46,767</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">493,668</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td height="16"> </td> <td height="16" colspan="16"> </td> <td height="16" colspan="16"> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center">Three Months Ended September 30, 2011</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center">Three Months Ended September 30, 2010</td> <td valign="bottom"> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Global OTC Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Futures Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Market Data Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Total</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Global OTC Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Futures Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Market Data Segment</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Total</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Revenues from external customers</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">163,386</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">157,740</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">19,652</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">340,778</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">146,578</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">125,038</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">15,530</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">287,146</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Intersegment revenues</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">18,439</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8,691</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8,800</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">35,930</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">15,861</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">7,627</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8,440</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">31,928</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Depreciation and amortization</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">20,799</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12,287</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">33,095</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">17,909</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">13,790</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">40</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">31,739</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Operating income.</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">70,974</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">114,777</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">18,298</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">204,049</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">61,850</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">74,109</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">15,599</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">151,558</td> <td valign="bottom" nowrap="nowrap">  </td></tr></table>

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19100000000

20000000000

69788000

25982000

75007000

25308000

38468000

38500000

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40494000

11800000

40500000

4300000

13600000

30202

108.11

729281

112.74

704010

1141246

99.53

107.31

261843

27800000

31600000

103.70

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0.0146

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64.22

34900000

2200000

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9600000

23.71

73.06

2114

123663

112.48

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1117807

56.73

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5.1

59039000

1117807

71.13

5.7

77573000

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78449000

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1000

1779000

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4000

26000

-7000

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5000

12768000

12763000

5000

6627000

6624000

3000

5146000

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938000

1150000

453822000

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90395000

128241000

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20083000

138412000

204405000

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228421000

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7547000

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