IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the launch of 22 new cleared OTC contracts for global refined petroleum products, North American power and North American natural gas. ICE also announced the introduction on ICE Futures Europe of single-expiry coal options, as well as Dutch TTF Natural Gas options.
All of the new forward contracts will be available for the trade date of Monday, November 7, 2011, subject to Energy Risk Committee approval and regulatory non-objection. With the products announced today, ICE will offer over 600 cleared OTC energy contracts, including more than 510 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.
The new contracts are:
Global Oil and Refined Petroleum Products
0.5% Singapore Gasoil vs. Low Sulphur Gasoil 1st Line Swap (ULP)
0.1% Gasoil CIF MED Cargoes vs. Low Sulphur Gasoil 1st Line Swap (ULQ)
0.1% Gasoil FOB RDAM Barges vs. Low Sulphur Gasoil 1st Line Swap (ULR)
0.1% Gasoil CIF NWE Cargoes vs. Low Sulphur Gasoil 1st Line Swap (ULT)
Diesel 10 ppm (UK) CIF NWE Cargoes vs. Low Sulphur Gasoil 1st Line Swap (ULU)
Fuel Oil 1% FOB RDAM Barges vs. Fuel Oil 1% FOB MED Cargoes Swap (FOP)
Urals North vs. Dated Brent CFD (CFU)
Premium Unleaded Gasoline 10ppm FOB MED Cargoes Swap (UCB)
All of the contracts above reference Platts European Marketscan, except ULP, which references Platts Asia Pacific/Arab Gulf Marketscan, and CFU, which references Platts Crude Oil Marketwire.
Low Sulphur Gasoil Average Price Option (ULA)
Low Sulphur Gasoil Bullet Swap (UUB)
European-Style Low Sulphur Gasoil Option (UUL)
NYH Heating Oil 2:30 PM ET Settlement vs. Platts 3:15 PM ET Futures Assessment (HOK)
NYH RBOB 2:30 PM ET Settlement vs. Platts 3:15 PM ET Futures Assessment (RBK)
North American Power
PJM Western Hub Real-Time Cal 1x Fixed Price Swap (PMX)
PJM Western Hub Real-Time Cal 1x Option (PMX)
PJM Western Hub Real-Time WH Real Time Off-Peak Monthly Options (OPJ)
PJM Western Hub Real-Time Off Peak Cal 1x (PWC)
PJM Western Hub Real-Time Off Peak Cal 1x Option (PWC)
PJM Western Hub Real-Time Planning Year 1x (PWP)
PJM Western Hub Real-Time Planning Year 1x Option (PWP)
North American Natural Gas
Henry Hub Cal 1x Fixed Price Swap (HHC)
Henry Hub Cal 1x Option (HHC)
ICE Futures Europe Coal Options and Natural Gas Options
Richard’s Bay Coal Single Expiry Calendar Year Options (AFC)
Rotterdam Coal Single Expiry Calendar Year Options (ATC)
gC Newcastle Coal Single Expiry Calendar Year Options (NCC)
Rotterdam Coal Single Expiry Quarterly Options (ATQ)
Richard’s Bay Coal Single Expiry Quarterly Options (AFQ)
gC Newcastle Coal Single Expiry Quarterly Options (NCQ)
Dutch TTF Gas Options (TTF)
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.
