ICE announces March 5 launch of 7 new cleared OTC contracts

ICE announces March 5 launch of 7 new cleared OTC contracts

16/02/2012

IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the launch of 7 new cleared OTC contracts for natural gas liquids, North American natural gas, North American power, crude and refined petroleum products.

All of the new contracts will be available for the trade date of Monday, March 5, 2012, subject to Energy Risk Committee approval and regulatory non-objection. With the products announced today, ICE will offer over 640 cleared OTC energy contracts, including more than 550 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.

The new contracts are:

Natural Gas Liquids

  • Argus Far East Propane Index Balmo Swap (LLP-LMT)(1)
  • Argus Propane CIF ARA Large Cargo Balmo Swap (LMU-LNY)(1)

North American Natural Gas

  • Henry Fixed Price for Gas Daily Option (HHD)
  • Fixed Price for Penultimate Henry Hub, 6-Month CSO Options (HMX)      

North American Power

  • ERCOT N 345KV Hub Peak Monthly Options (ERN)         

Global Oil and Refined Petroleum Products

  • NYH Heating Oil 2:30 PM ET Settlement vs. Platts 3:15 PM ET 2nd Month Spread Futures Assessment (HOL)(2)
  • NYH RBOB 2:30 PM ET Settlement vs. Platts 3:15 PM ET 2nd Month Spread Futures Assessment (RBL)(2)

(1)  These contracts reference Argus International LPG report.

(2)  These contracts references Platts U.S. Marketscan.

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.