IntercontinentalExchange Inc. reported record quarterly net income of $55.6 million, up 183%. It also updated expectations for the synergies flowing from its NYBOT merger.

ICE said that its consolidated revenue in the quarter increased 152% to a record $126.6 million, from $50.3 million in the first quarter of 2006. The first quarter of 2007 represents the first quarter that NYBOT is included in ICE’s financial results.

The record financial results were driven by strong volume during the quarter at ICE Futures, the company’s British futures business segment; at NYBOT, ICE’s U.S. futures business segment; in ICE’s global over-the-counter business segment; and in the company’s market data business segment, which now includes the NYBOT market data business.

ICE’s total average daily volume for its electronically-traded energy contracts in ICE’s global futures and OTC markets exceeded the one-million contract mark for the first time, with ADV of 1.2 million contracts in the first quarter of 2007, representing a 96% increase compared to ADV of 603,000 contracts in the prior year’s first quarter.

“This marks our fifth consecutive record quarter, and these results were achieved amid continued rapid expansion of our markets while we executed on many key initiatives in our core commodities business,” said ICE chairman and CEO Jeffrey Sprecher. “In a highly competitive environment, ICE continues to demonstrate its ability to innovate and to serve customers around the globe, while maintaining its lead in the electronic energy markets and successfully adding new products, customers and markets.”

In addition, ICE updated its synergy estimates relating to the acquisition of NYBOT. Annual expense synergy expectations have increased to a range of $13 million to $14 million beginning in 2008. For 2007, $8 million to $9 million in expense synergies are forecast. Material expense synergies were not realized in the first quarter of 2007 due to the proximity of the transaction closing in January and preparations for the launch of electronic trading.

Revenue synergies forecast in 2007 range from $14 million to $15 million. This forecast is based on a higher growth rate of NYBOT’s existing contracts and the expansion in the customer base as a result of the introduction of electronic trading. In addition, ICE will launch electronic trading for NYBOT’s foreign exchange, U.S. Dollar Index and the Russell Index futures contracts in June.

ICE is also bidding for the CBOT, having made a proposal to the board of directors of CBOT Holdings, Inc. to combine the two companies in a merger transaction.