IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the launch of 49 new cleared OTC energy contracts for global oil and refined petroleum products, North American natural gas and North American power.
All of the new contracts will be available for the trade date of Monday, May 23, 2011. With the products announced today, ICE will offer more than 470 cleared OTC energy contracts, including more than 375 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.
The new contracts are:
Global Oil and Refined Petroleum Products
• Fuel Oil Crack — 180 cst Sing vs Brent 1st Line Swap (SBS)
• Fuel Oil Crack — 180 cst Sing vs Dubai 1st Line Swap (SES)
• Fuel Oil Diff — 380 cst Sing vs 3.5% Rdam FOB Barges Swap (SJS)
• Fuel Oil Diff — 380 cst Sing vs 3.5% Rdam FOB Barges Balmo Swap (AHF-AIJ)
• Fuel Oil Crack — 380 cst Sing vs Brent 1st Line Swap (SPS)
• Fuel Oil Crack — 380 cst Sing vs Dubai 1st Line Swap (SLS)
The products above reference Platts Asia-Pacific/Arab Gulf Marketscan.
• Crude Outright — Platts East Siberian Pacific Ocean (ESPO) Swap (ESO)
• Crude Diff — Platts East Siberian Pacific Ocean (ESPO) Diff Swap (ESP)
The products above reference Platts Crude Oil Marketwire.
• Gasoil Outright – Gasoil 50ppm FOB Rdam Barges Bullet Swap (GSE)
• Fuel Oil Diff – 3% USGC Swap vs 3.5% FOB Rdam Barges Balmo Swap (GJU-GKY)
The products above reference Platts European Marketscan.
• Fuel Oil Crack – 1% NYH Cargo Swap vs WTI 1st Line Balmo Swap (GIP-GJT)
The product above references Platts U.S. Marketscan.
• Heating Oil Crack – NYH Heating Oil 1st Line vs WTI 1st Line Swap (HBW)
• Gasoline Outright — RBOB Gasoline 1st Line Swap (RBS)
• Gasoline Crack — RBOB Gasoline 1st Line vs WTI 1st Line Swap (RBW)
• Crude Outright — Argus East Siberian Pacific Ocean (ESPO) Swap (ARG)
• Crude Diff — Argus East Siberian Pacific Ocean (ESPO) Diff Swap (ARF)
• Crude Outright — Argus LLS Swap (ARH)
• Crude Diff — Argus LLS vs Brent 1st Line Swap (ARI)
• Crude Diff — Argus LLS vs Dated Brent Swap (ARJ)
• Crude Diff — Argus LLS vs WTI Trade Month Swap (ARL)
• Crude Diff — Argus LLS vs WTI 1st Line Swap (ARK)
• Crude Outright — Argus Mars Swap (ARM)
• Crude Diff — Argus Mars vs Brent 1st Line Swap (ARN)
• Crude Diff — Argus Mars vs WTI 1st Line Swap (ARO)
• Jet Fuel Outright — Gulf Coast Jet Fuel Swap (JCF)
North American Natural Gas
• Natural Gas Basis Swap: Transco Station 30 (Zone 1) (TTB)
• Natural Gas Basis Swap: Transco Station 45 (Zone 2) (TNB)
• Natural Gas Index Swap: Transco Station 45 (Zone 2) (TNI)
• Natural Gas Index Swap: Transco Station 85 (Zone 4) (TRI)
• Natural Gas Swing Swap: Transco Station 85 (Zone 4) (TRS)
• Natural Gas Swing Swap: NNG Ventura (NNS)
• Natural Gas Index Swap: NNG Ventura (NNI)
• Natural Gas Index Swap: Tennessee 500 L (TFI)
• Natural Gas Basis Swap: Tennessee 800 L (TSB)
• Natural Gas Index Swap: Tennessee Zone 0 (TZI)
• Natural Gas Index Swap: Centerpoint (CTI)
• Natural Gas Swing Swap: Centerpoint (CTS)
• Natural Gas Index Swap: CIG Rockies (CRC)
• Natural Gas Swing Swap: CIG Rockies (CRS)
• Natural Gas Index Swap: TETCO STX (SXI)
• Natural Gas Swing Swap: TETCO STX (SXC)
All natural gas basis swaps reference Platts Inside FERC’s Gas Market Report. All swing swaps reference Platts Gas Daily. All index swaps reference both Platts publications.
North American Power
• ISO New England NE Massachusetts Day Ahead LMP, Peak Monthly (INB)
• ISO New England NE Massachusetts Day Ahead LMP, Off-Peak Monthly (IND)
• ISO New England SE Massachusetts Day Ahead LMP, Peak Monthly (IMB)
• ISO New England SE Massachusetts Day Ahead LMP, Off-Peak Monthly (IMD)
• NYISO Zone C Day Ahead LBMP, Peak Monthly (ZCB)
• NYISO Zone C Day Ahead LBMP, Off-Peak Monthly (ZCD)
• NYISO Zone F Day Ahead LBMP, Peak Monthly (ZFB)
• NYISO Zone F Day Ahead LBMP, Off-Peak Monthly (ZFD)
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.
