Platts Data Selected As Basis For 19 New ICE Natural Gas Swaps Contracts
NEW YORK, May 16, 2011 /PRNewswire/ -- Platts' physical market price assessments for natural gas have been selected as the basis for 19 new cleared over-the-counter (OTC) swaps contracts by the IntercontinentalExchange (ICE), a U.S.-based operator of derivatives and OTC markets. Platts is a leading global provider of energy, petrochemicals and metals information and a top publisher of global benchmark price references.
"We're pleased that ICE recognizes Platts' well-established price assessment processes for the role they play in price discovery. Through exchange-licensing arrangements such as this, Platts data become the source of greater transparency for broader markets, including exchange-traded derivatives and futures," said Gerald Bueshel, Platts director of global licensing.
Trading and clearing of the new contracts began on May 16, 2011. With today's launch, the total number of ICE energy contracts settled and cleared against physical market price assessments published by Platts is approximately 150. For more information on ICE's new Platts-based energy contracts visit this link: http://ir.theice.com/releasedetail.cfm?ReleaseID=571227.
The Platts price assessments, licensed by ICE, appear in such Platts publications as Platts' Inside FERC's Gas Market Report and Platts Gas Daily. For details of the methodology that underpins Platts' natural gas price assessment processes, visit: http://www.platts.com/MethodologyAndSpecifications/NaturalGas.
Platts, founded in 1909, is a division of The McGraw-Hill Companies (MHP). In addition to the above mentioned price assessments, Platts provides price, as well as supply/demand information and news across the full spectrum of energy commodities, including non-U.S. natural gas, liquefied natural gas, coal, nuclear power, oil, petrochemicals, electric power, carbon emissions, biofuels, as well as iron ore, steel and the broader metals complex.
For more information on the physical markets for natural gas and liquefied natural gas, visit the Platts website at www.platts.com.
*Platts does not sponsor, endorse, promote or sell ICE contracts.
About Platts: Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy, metals and petrochemicals information. With a century of business experience, Platts serves customers across more than 150 countries. An independent provider, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemical, shipping, and metals markets from 17 offices worldwide. Platts' real-time news, pricing, analytical services and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better business decisions. Additional information is available at http://www.platts.com.
About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies is a leading global financial information and education company that helps professionals and students succeed in the Knowledge Economy. Leading brands include Standard & Poor's, McGraw-Hill Education, Platts energy information services and J.D. Power and Associates. The Corporation has approximately 21,000 employees with more than 280 offices in 40 countries. Sales in 2010 were $6.2 billion. Additional information is available at http://www.mcgraw-hill.com.
SOURCE Platts
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