ICE Announces 43 New OTC Cleared Energy Contracts
By Prne, Gaea News NetworkTuesday, September 8, 2009
ATLANTA -
**Contracts to Launch September 28**
IntercontinentalExchange, Inc.(R) (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today the introduction of 43 new OTC cleared energy contracts for North American electricity, natural gas, natural gas liquids and oil. ICE plans to make these OTC swaps and options available for clearing beginning Monday, September 28, 2009.
(Logo: www.newscom.com/cgi-bin/prnh/20090727/CL51999LOGO)
With the products announced today, ICE offers 240 cleared OTC energy contracts, including nearly 150 new OTC contracts since the launch of ICE Clear Europe(R) in November 2008.
The new OTC contracts available for clearing on September 28 are:
Electricity — CAISO PV DA LMP, Peak Daily (CPC) — ERCOT Houston Zone MCPE Off-Peak Monthly (HEB) — ERCOT North Zone MCPE Off-Peak Monthly (NEB) — ERCOT South Zone MCPE Off-Peak Monthly (SEB) — ERCOT West Zone MCPE Off-Peak Monthly (WEB) — ERCOT Houston Zone MCPE Off-Peak Daily (HED) — ERCOT North Zone MCPE Off-Peak Daily (NED) — ERCOT South Zone MCPE Off-Peak Daily (SED) — ERCOT West Zone MCPE Off-Peak Daily (WED) — MISO Cinergy Hub DA LMP Peak Monthly (MCC) — MISO Cinergy Hub DA LMP Off-Peak Monthly (MCD) — PJM Western Hub DA LMP Peak Monthly (PJC) — PJM Western Hub DA LMP Off-Peak Monthly (PJD) — PJM PSEG Zone DA LMP Peak Monthly (PSA) — PJM PSEG Zone DA LMP Peak Daily (PSC) — PJM PSEG Zone DA LMP Off-Peak Monthly (PSB) — PJM PSEG Zone DA LMP, Off-Peak Daily (PSD) Natural Gas — Platts IF Florida Gas Z3 Basis Swap (FTZ) — Platts IF Sonat Basis Swap (SON) — Platts IF Tennessee 500L Basis Swap (TFL) — Platts IF NGPL South Texas Basis Swap (NSX) — Platts IF ANR SE Basis Swap (CGM) — Platts IF Texas Gas Zone SL Basis Swap (ZSL) — Platts IF TETCO M3 Index Swap (MTI) — Platts GDD TETCO M3 Swing Swap (TSS) — Platts IF Transco Z6 Index Swap (NSI) — Platts GDD NWP Sumas Swing Swap (NSS) Natural Gas Liquids — Propane, Mt. Belvieu - ENT (non-TET) FP for OPIS (PRN) — Argus Propane CIF ARA Large Cargo Swap (APC) Oil — Platts Naphtha CIF NWE Cargo Swap (NEC) — Platts Naphtha CIF NWE Cargoes vs. Brent 1st Line Swap (NOB) — Platts Naphtha C+F Japan Cargo Swap (NJC) — Platts Naphtha C+F Japan Cargo vs. Naphtha CIF NWE Cargo Swap (JOE) — RBOB Gasoline 1st Line vs. Argus EuroBOB OXY FOB Rotterdam Barge Swap (ROE) — Argus EuroBOB OXY FOB Rotterdam Barge vs. Brent 1st Line Swap (EOB) — Platts 3% Fuel Oil USGC vs. 3.5% Fuel Oil FOB Rotterdam Barges Swap (GOE) — Platts 3% Fuel Oil USGC Swap (RBO) — Platts Urals MED vs. Dated Brent CFD (UCF) — Platts 3.5% Fuel Oil Barges FOB Rotterdam Balmo Swap (BAS) — Platts 1% Fuel Oil Cargoes FOB NWE Balmo Swap (CAS) — Platts 180 CST Singapore Fuel Oil vs. 3.5% Fuel Oil Barges Rotterdam Balmo Swap (SFT) — Platts Dubai 1st Line Balmo Swap (DBJ) - Platts 180 CST Singapore Fuel Oil vs. 380 CST Singapore Fuel Oil Balmo Swap (STT)
As the first new major clearing house in London in over a century, ICE Clear Europe is enabling the efficient development of new products to support the risk management needs of member firms and customers in ICE’s global energy futures and OTC markets. In 2002, ICE pioneered the concept of cleared OTC energy contracts, which provide participants with access to centralized clearing and settlement arrangements while reducing bilateral credit risk and capital required for each OTC trade.
Contract specifications and a full list of ICE’s cleared OTC contracts can be found at www.theice.com/markets_otc.jhtml.
About IntercontinentalExchange
IntercontinentalExchange(R) (NYSE: ICE) operates leading regulated exchanges, trading platforms and clearing houses serving the global markets for agricultural, credit, currency, emissions, energy and equity index markets. ICE Futures Europe(R) hosts trade in half of the world’s crude and refined oil futures. ICE Futures U.S.(R) and ICE Futures Canada(R) list agricultural, currency and Russell Index markets. ICE offers trade execution and processing for the credit derivatives markets through Creditex and ICE Link(TM), respectively, and CDS clearing through ICE Trust(TM) and ICE Clear Europe(R). A component of the Russell 1000(R) and S&P 500 indexes, ICE(R) serves customers in more than 50 countries and is headquartered in Atlanta, with offices in New York, London, Chicago, Winnipeg, Calgary, Houston and Singapore. www.theice.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2008, as filed with the SEC on February 11, 2009.
Source: IntercontinentalExchange
Investors: Kelly Loeffler, VP, Investor Relations & Corp. Communications, +1-770-857-4726, kelly.loeffler at theice.com; Sarah Stashak, Director, Investor & Public Relations, +1-770-857-0340, sarah.stashak at theice.com, both of IntercontinentalExchange; Media: Ellen Resnick, Crystal Clear Communications, +1-773-929-9292 (o), +1-312-399-9295 (c), eresnick at crystalclearPR.com. Logo: https://www.newscom.com/cgi-bin/prnh/20090727/CL51999LOGO
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