NEW YORK, May 12, 2014 /PRNewswire/ -- Platts' physical market price assessments for global crude oil and petroleum products have been selected as the basis for clearing 12 new futures contracts launched today by the IntercontinentalExchange (ICE), a global operator of derivatives markets and clearing houses. Platts is a leading global energy, petrochemicals and metals information provider and a top publisher of global benchmark price references.
"We're pleased that the futures industry values Platts as an independent price reporting organization and the transparency we bring to price discovery in the physical markets," said Gerald Bueshel, Platts director of global licensing.
This brings the total number of ICE contracts settled on physical market price assessments published by Platts to 235. For more information on ICE's new Platts-based energy contracts click here.
The Platts price assessments, licensed by ICE, appear in such Platts publications as Asia-Pacific/Arab Gulf Marketscan, Crude Oil Marketwire and European Marketscan, among others. Platts price assessment processes are underpinned by robust, clearly defined methodologies and specifications.
In addition to the above mentioned price assessments, Platts' markets coverage includes supply/demand fundamentals, news and other information across the full spectrum of energy and metals commodities, as well as agriculture commodities relating to biofuels and sugar.
*Platts does not sponsor, endorse, promote or sell ICE contracts.
About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets. A division of McGraw Hill Financial (NYSE: MHFI), Platts is based in London with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.
About McGraw Hill Financial: McGraw Hill Financial (NYSE: MHFI), a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power and McGraw Hill Construction. The Company has approximately 17,000 employees in 29 countries. Additional information is available at www.mhfi.com.