IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the launch of 28 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 19, 2012, subject to Energy Risk Committee approval and regulatory non-objection. With the products announced today, ICE will offer over 670 cleared OTC energy contracts, including more than 580 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.
The new contracts are:
Natural Gas Liquids
• Ethane, Mt Belvieu – ENT FP for OPIS Average Price Option (ETE)
• Propane, Mt Belvieu – LST FP for OPIS Average Price Option (PRL)
North American Natural Gas
• Panhandle Fixed Price Swap (OPP)(1)
• Panhandle Option (OPP)
• EP San Juan Fixed Price Swap (OPU)(1)
• EP San Juan Option (OPU)
• Socal Border Fixed Price Swap (OPS)(2)
• Socal Border Option (OPS)
North American Power
• PJM AECO Zone DA LMP Peak Monthly (PTB)
• PJM AECO Zone DA LMP Off-Peak Monthly (PTD)
• PJM APS Zone DA LMP Peak Monthly (PUB)
• PJM APS Zone DA LMP Off-Peak Monthly (PUD)
• PJM DPL Zone DA LMP Peak Monthly (PXB)
• PJM DPL Zone DA LMP Off-Peak Monthly (PXD)
• PJM PENELEC Zone DA LMP Peak Monthly (PZB)
• PJM PENELEC Zone DA LMP Off-Peak Monthly (PZD)
Global Oil and Refined Petroleum Products
• USGC Jet Fuel vs Brent NX 1st Line Swap (BNU)(3)
• Low Sulphur Gasoil 1st Line Balmo Swap (VEA-VFE)
• Low Sulphur Gasoil 1-Month Calendar Spread Option (UUM)
• 0.1% Gasoil CIF MED Cargoes vs Low Sulphur Gasoil 1st Line Balmo Swap
(VFF-VGJ)(4)
• 0.1% Gasoil CIF NWE Cargoes vs Low Sulphur Gasoil 1st Line Balmo Swap
(VGK-VHO)(4)
• 0.1% Gasoil FOB RDAM Barges vs Low Sulphur Gasoil 1st Line Balmo Swap (VHP-VIT)(4)
• Diesel 10 ppm (UK) CIF NWE Cargoes vs Low Sulphur Gasoil 1st Line Balmo Swap (VIU-VJY)(4)
• Diesel 10 ppm FOB RDAM Barges vs Low Sulphur Gasoil 1st Line Balmo Swap (VJZ-VLD)(4)
• Diesel 10ppm CIF NWE (Le Havre) Cargoes vs Low Sulphur Gasoil 1st Line Balmo Swap (VLE-VMI)(4)
• ULSD 10 ppm CIF MED Cargoes vs Low Sulphur Gasoil 1st Line Balmo Swap (VMJ-VNN)(4)
• ULSD 10 ppm CIF NWE Cargoes vs Low Sulphur Gasoil 1st Line Balmo Swap (VNO-VOS)(4)
• Jet CIF NWE Cargoes vs Low Sulphur Gasoil 1st Line Balmo Swap (VOT-VPX)(4)
(1.) These contracts reference Platts Inside FERC’s Gas Market Report.
(2.) This contract references Intelligence Press’s NGI.
(3.) This contract references Platts U.S. Marketscan.
(4.) These contracts reference Platts European 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.
