ICE Announces Launch of Two German Natural Gas Futures Contracts
By Intercontinentalexchange, PRNETuesday, October 19, 2010
LONDON, October 20, 2010 - IntercontinentalExchange (NYSE: ICE), a leading operator of global
regulated futures exchanges, clearing houses and over-the-counter (OTC)
markets, today announced the launch of two German natural gas futures
(https://www.theice.com/publicdocs/circulars/10071.pdf) on ICE Futures Europe
on 17 November, pending regulatory approval. The contracts are for physical
delivery at NetConnect Germany (NCG) and GASPOOL.
(Logo: photos.prnewswire.com/prnh/20090727/CL51999LOGO ) (Logo: www.newscom.com/cgi-bin/prnh/20090727/CL51999LOGO )
The German natural gas futures contracts will trade alongside ICE's U.K.
NBP Natural Gas futures contract and its Dutch TTF Natural Gas futures
contract, bringing together for the first time Europe's three largest traded
gas markets on a single trading and clearing platform. The ICE NBP Natural
Gas futures contract is the leading benchmark for U.K. natural gas, with
year-to-date trading volume of 3.2 million contracts through 30 September, up
59% from the same period in 2009. Dutch TTF futures have traded more than 70
thousand contracts following their introduction in March 2010.
"ICE Futures Europe is leading the integration of European natural gas
markets," said David Peniket, President and COO of ICE Futures Europe. "With
the addition of these two German natural gas futures contracts to our
successful Dutch TTF natural gas future, ICE Futures Europe will build upon
the depth of liquidity we have established in the U.K. natural gas market and
continental Europe. This product suite maximizes capital efficiency by
offering margin offsets between German, Dutch and UK gas, as well as our
energy complex, including coal and emissions."
Both the NCG and GASPOOL contracts will consist of a series of twelve
consecutive months, six quarters, eight seasons and four years settled by way
of physical delivery through the transfer of rights at their respective hubs,
and both will be priced in Euros and Euro cents per megawatt hour. At launch,
margin offsets will be available against ICE's NBP Natural Gas futures, Dutch
TTF futures and cleared Henry Hub swaps.
About IntercontinentalExchange
IntercontinentalExchange(R) (NYSE: ICE) is a leading operator of
regulated futures exchanges and over-the-counter markets for agricultural,
credit, currency, emissions, energy and equity index contracts. 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, currencies
and Russell Index markets. ICE(R) is also a leading operator of central
clearing services for the futures and over-the-counter markets, with five
regulated clearing houses across North America and Europe. ICE serves
customers in more than 70 countries. www.theice.com
The following are trademarks of IntercontinentalExchange, Inc. and/or its
affiliated companies: IntercontinentalExchange, IntercontinentalExchange &
Design, ICE, ICE and block design ICE Futures Europe, ICE Clear Europe, and
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their respective owners. For more information regarding registered trademarks
owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see
https://www.theice.com/terms.jhtml
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, 2009, as filed with the SEC on February 10, 2010.
ICE-ENGY
Media, Brookly McLaughlin, Corporate Communications, +1-312-836-6728, brookly.mclaughlin at theice.com, or Lee Underwood, Director, Communications, +1-770-857-0342, lee.underwood at theice.com; or Investor, Kelly Loeffler, VP Investor Relations & Corp. Communications, +1-770-857-4726, kelly.loeffler at theice.com, all of IntercontinentalExchange
Tags: IntercontinentalExchange, London, October 20, United Kingdom