ICE Announces August 28 Launch of New Energy Contracts

News provided by

IntercontinentalExchange

Aug 01, 2012, 10:37 ET

ATLANTA, Aug. 1, 2012 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the introduction of 29 new cleared OTC contracts. The new contracts include oil and refined petroleum product swaps, North American power swaps and natural gas liquids (NGLs) swaps. ICE is also introducing its first uranium swap, the previously announced Japan/Korea Marker (JKM) liquefied natural gas (LNG) swap and a Baltic Exchange wet freight swap. 

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All of the new cleared swaps will be available for the trade date of Tuesday, August 28, 2012, subject to regulatory non-objection. The new contracts are:

Global Oil and Refined Petroleum Products

  • Mini 3.5% FOB RDAM Barges Fuel Oil Swap (100MT) (Platts) (BAM)1
  • Jet CIF NWE Cargoes vs Brent 1st Line Swap (Platts) (JNB) 1
  • 3.5% FOB RDAM Barges vs Brent 1st Line Swap (Bbls) (Platts) (BOA) 1
  • 1% FOB NWE Cargoes Fuel vs Brent 1st Line Swap (Bbls) (Platts) (FVA) 1
  • ULSD 10ppm CIF NWE Cargoes vs Brent 1st Line Swap (Platts) (UBN) 1
  • Singapore Mogas 97 Unleaded vs Singapore Mogas 95 Unleaded Swap (Platts) (SMB)2
  • Singapore Mogas 97 Unleaded vs Singapore Mogas 92 Unleaded Swap (Platts) (SMC) 2
  • Singapore Mogas 95 Unleaded vs Singapore Mogas 92 Unleaded Swap (Platts) (SMD) 2
  • WCS TMX 1b Index Balmo Swap (VYH-VZL)
  • SYN TMX 1b Index Swap (SYN)

North American Power

  • AD Hub RT Peak Monthly Options (MSO)
  • AD Hub RT Off-Peak Monthly Options (AOD)
  • AD Hub RT Peak Cal 1x Fixed Price Swap (ARY)
  • AD Hub RT Peak Cal 1x Option (ARY)
  • AD Hub RT Off-Peak Cal 1x Fixed Price Swap (ARZ)
  • AD Hub RT Off-Peak Cal 1x Option (ARZ)
  • ERCOT North 345kV DA Peak Monthly (EVN)
  • ERCOT North 345kV DA Off-Peak Monthly (NEV)           

Natural Gas Liquids

  • Propane, Mt Belvieu - LST FP for OPIS Swap Mini (PLM) 3
  • IsoButane, Mt Belvieu - ENT FP for OPIS Balmo Swap (LVC-LWG) 3
  • Isobutane, MT.B-LST, FP for OPIS Balmo Swap (ZHF-ZIJ) 3
  • Isobutane, Conway, FP for OPIS Balmo Swap (LWH-LXL) 3
  • E-P Cont, Mt Belvieu - FP for OPIS Balmo Swap (LNZ-LPD) 3
  • E-P Cont, Conway - FP for OPIS Balmo Swap (LPE-LQI) 3
  • Natgaso – Mt. Belvieu – LST, FP for OPIS Balmo Swap (LSS-LTW) 3
  • Propane, Far East vs Propane, CIF ARA Balmo Swap (VRD-VSH) 4

Uranium

  • ICAP Uranium 3O8 Swap (UOX)

Liquefied Natural Gas

  • Japan Korea Marker LNG Swap (Platts) (JKM)5

Wet Freight

  • TC14 (Baltic) Freight Route Swap (WCN)

1.    These contracts reference Platts European Marketscan.

2.    These contracts reference Platts Asia-Pacific/Arab Gulf Marketscan.

3.    These contracts reference OPIS North America LPG Report.

4.    This contract references Argus International LPG report.

5.    This contract references Platts LNG Daily.

With the products announced today, ICE will offer over 760 cleared OTC energy contracts, including more than 670 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.

ICE Clear Europe enables 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.

Editor's Notes

About Platts

Platts, a division of The McGraw-Hill Companies, is a leading global energy, petrochemicals and metals information provider. "Platts", "Platts Inside FERC's Gas Market Report", "Platts Crude Oil Market Wire", "Platts U.S. Marketscan" and "Platts European Marketscan" are trademarks of The McGraw-Hill Companies.   Platts' data and trademarks are proprietary and are used under license. Platts does not sponsor, endorse, sell or promote exchange contracts and Platts accepts no liability for the use of Platts data in connection therewith. 

About Oil Price Information Service

Oil Price Information Service (OPIS) is one of the most widely accepted price benchmarks for supply contracts and competitive positioning. It's used as a benchmark price by the world to buy and sell NGLs, LP-Gas, U.S. gasoline, diesel, ethanol, biodiesel, jet fuel, refinery feedstocks, resid, and kerosene. OPIS produces several publications for the NGL and LPG marketplace including the OPIS North America LPG Report, the OPIS NGL Forwards Report, the OPIS Europe LPG Report, and the OPIS Asia Naphtha and LPG Report, in addition to publications that focus on refined products, news, and biofuels.

About Argus

Argus Media is a leading provider of price assessments, business intelligence, market data, consultancy and conferences on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer and transportation industries. Argus energy and fertilizer prices are widely used by leading companies, governments and international agencies as benchmarks in supply contracts, risk management and planning. "ARGUS", "ARGUS INTERNATIONAL LPG" and the index names stated herein are trademarks of Argus Media Limited and are used under license.  All copyrights and database rights in Argus data belong exclusively to Argus Media Limited.  Argus takes no position on the purchase and sale of exchange contracts and accept no liability in connection with any use of Argus data.

About IntercontinentalExchange

IntercontinentalExchange (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 hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE 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, ICE, ICE and block design, ICE Futures Europe, ICE Clear Europe, ICE Clear Canada, ICE Clear US, ICE Futures U.S., and ICE OTC. All other trademarks are the property of 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, 2011, as filed with the SEC on February 8, 2012, and ICE's Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, as filed with the SEC on August 1, 2012.

ICE-ENGY

SOURCE IntercontinentalExchange

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