ATLANTA, October 11, 2010 /PRNewswire/ -- IntercontinentalExchange , a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the launch of 30 new cleared OTC energy contracts (https://www.theice.com/publicdocs/clear_europe/circulars/C10088.pdf) for North American power, natural gas liquids and global oil products.
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ICE also announced the introduction of five new futures and options contracts on ICE Futures Europe (https://www.theice.com/publicdocs/circulars/10065.pdf), including ICE ECX ERU Futures and Options (https://www.theice.com/publicdocs/circulars/10067.pdf), the market's first Emission Reduction Unit (ERU) contracts. One ERU represents an emission reduction equivalent to one metric ton of carbon dioxide, under the Joint Implementation mechanism of the Kyoto Protocol. These new contracts will provide price discovery and transparency for the ERU market, enabling market participants to manage their carbon price risk more efficiently with EUAs, CERs and ERUs on a single platform.
All of the new contracts will be available for the trade date of Monday, November 8, 2010. With the products announced today, ICE will offer more than 330 cleared OTC energy contracts, including 240 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.
The new contracts are:
North American Power -- Platts IF EP-San Juan Index Swap (SNI) -- Platts IF EP-San Juan Swing Swap (SNS) -- Fixed Price for CGPR 5a, AB-NIT (NGA) -- Fixed Price for LD4, Henry Hub (HNG) -- Fixed Price for LD4, Henry Hub Options (HNG) -- ERCOT North Load Zone RT, Peak Monthly (EDN) -- ERCOT South Load Zone RT, Peak Monthly (EDS) -- ERCOT West Load Zone RT, Peak Monthly (EDW) -- ERCOT Houston Load Zone RT, Peak Monthly (EDH) -- ERCOT North Load Zone RT, Off-Peak Monthly (OEN) -- ERCOT South Load Zone RT, Off-Peak Monthly (OES) -- ERCOT West Load Zone RT, Off-Peak Monthly (OEW) -- ERCOT Houston Load Zone RT, Off-Peak Monthly (OEH) Natural Gas Liquids -- Argus Propane - Argus Far East (AFE) -- Argus Propane - Saudi CP (SCP) Global Oil and Refined Products -- Platts EM 0.1% Gasoil CIF MED Swap (GCM) -- Platts EM 0.1% Gasoil CIF MED vs Gasoil 1st Line Swap BALMO Swap (GMH) -- Platts EM 0.1% Gasoil CIF NWE Cargoes Swap (GCW) -- Platts EM 0.1% Gasoil CIF NWE Cargoes BALMO Swap (GCX) -- Platts EM 0.1% Gasoil FOB Rdam Barges Swap (GOF) -- Platts EM Fuel Oil 1% FOB MED Cargoes Fuel Oil Swap (OPM) -- Platts EM Diesel 10ppm (UK) CIF NWE Cargoes vs Gasoil 1st Line Swap (DCU) -- Platts EM Jet CIF NWE Cargoes Swap (JCN) -- Platts APAGM Singapore Naphtha Calendar Swap (NPT) -- Heating Oil 1st Line vs Gasoil 1st Line Swap (MT) (HOT) -- Platts USM Gulf Coast No. 6 3% Fuel Oil Crack Spread (GUF) -- Platts USM Gulf Coast ULSD Swap (GUU) -- Platts USM New York 1% Fuel Oil Crack Spread (FOK) -- Platts USM New York 1% Fuel Oil Swap (FOW) -- Platts USM NY 1% Fuel Oil vs Gulf Coast 3% Fuel Oil Swap (FOD) ICE Futures Europe Futures and Options -- ICE Richards Bay Coal Options (AFR) -- ICE Rotterdam Coal Options (ATW) -- ICE gcNewcastle Coal Options (NCF) -- ICE ECX ERU Futures (ERU) -- ICE ECX ERU Options (ERU)
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 centralised clearing and settlement arrangements while reducing bilateral credit risk and capital required for each OTC trade.
A full list of OTC, futures and options contracts and all specification are available at http://www.theice.com.
About IntercontinentalExchange
IntercontinentalExchange(R) 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 55 countries. http://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 European Climate Exchange (ECX). 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, 2009, as filed with the SEC on February 10, 2010.
ICE-ENGY
SOURCE: IntercontinentalExchange
CONTACT: Media: Brookly McLaughlin, Corporate Communications,IntercontinentalExchange, +1-312-836-6728, brookly.mclaughlin@theice.com;Lee Underwood, Director, Communications, IntercontinentalExchange,+1-770-857-0342, lee.underwood@theice.com; Investor Contact: KellyLoeffler, VP Investor Relations Corp. Communications,IntercontinentalExchange, +1-770-857-4726, kelly.loeffler@theice.com
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