– Contracts to Launch May 18
IntercontinentalExchange, Inc.(R) (NYSE: ICE), a leading operator of global regulated futures exchanges and over-the-counter (OTC) markets, announced today the introduction of 20 new cleared OTC oil contracts. These OTC swaps and options will be available for clearing beginning on Monday, May 18, 2009, and complement ICE’s already robust futures markets for global oil products.
With the products announced today, ICE will offer nearly 200 cleared OTC energy contracts, including 100 new OTC contracts since the launch of ICE Clear Europe(R) in November 2008.
The new OTC contracts available for clearing on May 18 are:
— Brent Bullet Swap (BNB)
— EU-Style Brent Cash Settled Option (BUL)
— Brent Average Price Option (I)
— WTI Bullet Swap (WTB)
— EU-Style WTI Cash Settled Option (WUL)
— WTI Average Price Option (R)
— Gasoil Bullet Swap (GOB)
— EU-Style Gasoil Cash Settled Option (GUL)
— Gasoil Average Price Option (GSP)
— Brent First Line vs. Platts Dubai First Line Swap (BOD)
— Platts Brent CFD vs. First Month (CFO)
— Platts Brent CFD vs. Third Month (CFT)
— Platts Monthly Brent CFD vs. Second Month (CFM)
— Platts Jet Kerosene Barges FOB RDAM vs. Gasoil First Line Swap (JRG)
— Platts Jet Kerosene Barges FOB RDAM vs. Jet Kerosene Cargoes CIF NWE
— Platts 0.1% Gasoil Cargoes CIF MED vs. Gasoil First Line Swap (GMG)
— Platts 0.1% Gasoil Barges FOB RDAM vs. Brent First Line Swap (GRB)
— Platts 0.1% Gasoil Cargoes CIF NWE vs. Brent First Line Swap (GEB)
— Platts ULSD 10ppm Cargoes CIF MED vs. Gasoil First Line Swap (DMG)
— Platts 1% Fuel Oil Cargoes FOB NWE vs. Brent First Line Swap (FVB)
As the first new major clearing house in London in over a century, ICE Clear Europe is enabling 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.
Contract specifications and a full list of ICE’s cleared OTC contracts can be found at www.theice.com/markets_otc.jhtml.