Clearing revenues outstripped those derived from trading for the first time at IntercontinentalExchange's European business last year, as the US-based operator continued to benefit from soaring demand for its benchmark oil contracts.

Net profits across Ice's Europe businesses - including its London-based futures exchange and clearing house - rose 22% during 2012, ending the year at $386m, according to UK Companies House filings this week. Revenues were $721m, up 28%.