NEW YORK, April 29, 2013 /PRNewswire/ -- Platts' physical market price assessments for regional and global crude oil, petroleum products and iron ore have been selected as the basis for clearing 13 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 are committed to bringing greater transparency and efficiency to global commodity markets through our physical price assessments and information services, and we welcome the futures industry's recognition of the role we play in the price discovery process in the markets we cover," said Gerald Bueshel, Platts director of global licensing.
This brings the total number of ICE contracts settled on market price assessments published by Platts to 208. For more information on ICE's new Platts-based energy and ferrous metals contracts visit this link.
The Platts price assessments, licensed by ICE, appear in such Platts publications as Asia-Pacific/Arab Gulf Marketscan, Crude Oil Marketwire, European Marketscan, Clean Tankerwire, Gas Daily, Biofuelscan, and The Steel Index's (TSI)* Iron Ore Daily Edition, among others. Platts price assessment processes are underpinned by robust, clearly defined methodologies and specifications.
In addition to the above mentioned price assessments, Platts provides price assessments, supply/demand fundamentals, news and other information across the full spectrum of energy and metals commodities, as well as agriculture commodities relating to biofuels. Since 1909, Platts' news and assessments have brought greater transparency and efficiency to the physical energy markets.
For more information on the physical energy, petrochemicals, metals markets, visit the Platts website at www.platts.com.
*The Steel Index was acquired by Platts in 2011.
**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 The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.
About The McGraw-Hill Companies: The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to shareholder approval), is a powerhouse in credit ratings, benchmarks and analytics for the global capital and commodity markets. Leading brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mcgraw-hill.com.