IntercontinentalExchange, Inc. (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today the introduction of 40 new OTC cleared energy contracts for North American natural gas, power, natural gas liquids and global oil products. These cleared OTC swaps and options will be available for the trade date of Monday, December 7, 2009. The new cleared oil contracts include a differential calendar swap contract and a differential trade-month swap contract based on the Argus Sour Crude Index (ASCI). The two ASCI swap contracts will be available Friday, November 13.
With the products announced today, ICE offers a total of 280 cleared OTC energy contracts, including nearly 190 new OTC contracts since the launch of ICE Clear Europe in November 2008.
The new cleared OTC contracts available beginning December 7 are:
Natural Gas
— Platts IF Columbia Gulf Mainline Basis Swap (CGB)
— Platts IF EP-Permian Index Swap (PEI)
— Platts GDD EP-Permian Swing Swap (PES)
— Platts IF NGPL-Texok Index Swap (NTI)
— Platts GDD NGPL-Texok Swing Swap (NTS)
— Platts IF NWP-Rockies Index Swap (RSI)
— Platts IF NWP-Sumas Index Swap (NIS)
— Platts IF Waha Index Swap (WAI)
— Platts GDD Waha Swing Swap (WAS)
Power
— PEPCO Zone DA LMP, Peak Daily (PPE)
— PEPCO Zone DA LMP, Peak Month (PPF)
— PEPCO Zone DA LMP, Off-Peak Daily (PPG)
— PEPCO Zone DA LMP, Off-Peak Month (PPH)
— Mid C RT Mini Peak Monthly (MDF)
— Mid C RT Mini Peak Option (MDF)
Natural Gas Liquids
— Natural Gasoline, Conway, FP for OPIS (NGC)
— Propane, Mt Belvieu – ENT (non-TET) FP for OPIS BALMO Swap (PRO)
— Propane, Mt Belvieu – LDH (TET) FP for OPIS BALMO Swap (PRM)
— N-BUTISO, Mt Belvieu – ENT FP for OPIS BALMO Swap (NBJ)
Global Oil and Refined Products
— Argus Sour Crude Index (ASCI) Diff Calendar Swap (TAB)*
— Argus Sour Crude Index (ASCI) Diff Trade-Month Swap (TOB)*
— WTI Crude Oil 1-Month Calendar Spread Option (TIA)
— WTI Crude Oil 12-Month Calendar Spread Option (TIZ)
— Brent Crude Oil 1-Month Calendar Spread Option (BRM)
— Brent Crude Oil 12-Month Calendar Spread Option (BRZ)
— Gasoil 1-Month Calendar Spread Option (GOA)
— Platts Jet Fuel Cargoes CIF NWE vs ICE Gasoil BALMO Swap (JES)
— Platts 3.5% Fuel Oil FOB MED Swap (FOM)
— Platts 3.5% Fuel Oil FOB MED BALMO Swap (FON)
— Platts 1% FOB Barges RDAM BALMO Swap (FOC)
— Argus Eurobob Oxy FOB Rotterdam Barges Swap (AEO)
— Argus Eurobob Oxy FOB Rotterdam Barges BALMO Swap (AEP)
— Argus Eurobob Oxy FOB Rdam vs Brent 1st Line BALMO Swap (Crack Spread)
(AES)
— Platts Fuel Oil 1% CIF Med Cargo Swap (CIF)
— Platts Fuel Oil 1% CIF Med Cargo BALMO Swap (CIG)
— Platts Fuel Oil 1% NYH versus 1% FOB NWE Cargo Swap (FOH)
— Brent 1st Line BALMO Swap (BSQ)
— ICE Gasoil 1st Line BALMO Swap (GSQ)
— Argus Biodiesel RME FOB RDAM Swap (ABI)
— Argus FAME 0 Biodiesel FOB Rotterdam Swap (FAM)
* The two ASCI swap contracts will be available Friday, November 13.
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.
