IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the launch of 30 new cleared OTC energy contracts for North American power, natural gas liquids and global oil products.
ICE also announced the introduction of five new futures and options contracts on ICE Futures Europe, including ICE ECX ERU Futures and Options, the market’s first Emission Reduction Unit (ERU) contracts. One ERU represents an emission reduction equivalent to one metric ton of carbon dioxide, under the Joint Implementation mechanism of the Kyoto Protocol. These new contracts will provide price discovery and transparency for the ERU market, enabling market participants to manage their carbon price risk more efficiently with EUAs, CERs and ERUs on a single platform.
All of the new contracts will be available for the trade date of Monday, November 8, 2010. With the products announced today, ICE will offer more than 330 cleared OTC energy contracts, including 240 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.
The new contracts are:
North American Power
Platts IF EP-San Juan Index Swap (SNI)
Platts IF EP-San Juan Swing Swap (SNS)
Fixed Price for CGPR 5a, AB-NIT (NGA)
Fixed Price for LD4, Henry Hub (HNG)
Fixed Price for LD4, Henry Hub Options (HNG)
ERCOT North Load Zone RT, Peak Monthly (EDN)
ERCOT South Load Zone RT, Peak Monthly (EDS)
ERCOT West Load Zone RT, Peak Monthly (EDW)
ERCOT Houston Load Zone RT, Peak Monthly (EDH)
ERCOT North Load Zone RT, Off-Peak Monthly (OEN)
ERCOT South Load Zone RT, Off-Peak Monthly (OES)
ERCOT West Load Zone RT, Off-Peak Monthly (OEW)
ERCOT Houston Load Zone RT, Off-Peak Monthly (OEH)
Natural Gas Liquids
Argus Propane – Argus Far East (AFE)
Argus Propane – Saudi CP (SCP)
Global Oil and Refined Products
Platts EM 0.1% Gasoil CIF MED Swap (GCM)
Platts EM 0.1% Gasoil CIF MED vs Gasoil 1st Line Swap BALMO Swap (GMH)
Platts EM 0.1% Gasoil CIF NWE Cargoes Swap (GCW)
Platts EM 0.1% Gasoil CIF NWE Cargoes BALMO Swap (GCX)
Platts EM 0.1% Gasoil FOB Rdam Barges Swap (GOF)
Platts EM Fuel Oil 1% FOB MED Cargoes Fuel Oil Swap (OPM)
Platts EM Diesel 10ppm (UK) CIF NWE Cargoes vs Gasoil 1st Line Swap (DCU)
Platts EM Jet CIF NWE Cargoes Swap (JCN)
Platts APAGM Singapore Naphtha Calendar Swap (NPT)
Heating Oil 1st Line vs Gasoil 1st Line Swap (MT) (HOT)
Platts USM Gulf Coast No. 6 3% Fuel Oil Crack Spread (GUF)
Platts USM Gulf Coast ULSD Swap (GUU)
Platts USM New York 1% Fuel Oil Crack Spread (FOK)
Platts USM New York 1% Fuel Oil Swap (FOW)
Platts USM NY 1% Fuel Oil vs Gulf Coast 3% Fuel Oil Swap (FOD)
ICE Futures Europe Futures and Options
ICE Richards Bay Coal Options (AFR)
ICE Rotterdam Coal Options (ATW)
ICE gcNewcastle Coal Options (NCF)
ICE ECX ERU Futures (ERU)
ICE ECX ERU Options (ERU)
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 centralised clearing and settlement arrangements while reducing bilateral credit risk and capital required for each OTC trade.
A full list of OTC, futures and options contracts and all specification are available at www.theice.com.
