ICE Announces April 4 Launch of 15 Cleared Oil Products

Mar 14, 2011, 13:41 ET from IntercontinentalExchange

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ATLANTA, March 14, 2011 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the introduction of 15 cleared OTC global oil products.

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All of the new contracts will be available for the trade date of Monday, April 4, 2011. With the products announced today, ICE will offer more than 405 cleared OTC energy contracts, including more than 310 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008. 

The new contracts are:

  • Diesel 10ppm (UK) CIF NWE Cargoes vs Gasoil 1st Line Balmo Swap (DAA-DBE)
  • Diesel 10ppm CIF NWE Cargoes Swap (DCC)
  • Diesel 10ppm CIF NWE Cargoes vs Gasoil 1st Line Balmo Swap (DHA-DIE)
  • Diesel 10ppm FOB Rotterdam Barges Balmo Swap (CDA-CEE)
  • Gasoil 0.1% FOB MED Cargoes Swap (GOM)
  • ULSD 10ppm CIF NWE Cargoes Balmo Swap (FYA-FZE)
  • Diesel 10ppm FOB Rotterdam Barges Bullet Swap (FBG)

The Europe-based, physical base products above appear in Platts European Marketscan.

  • Fuel Oil 3% US Gulf Coast Balmo Swap (FPA-FQE)
  • Fuel Oil 1% New York Balmo Swap (FRA-FSE)
  • Gulf Coast ULSD vs Heating Oil 1st Line Swap (GOH)
  • Gulf Coast No.6 Fuel Oil vs Brent 1st Line Swap (GCS)
  • New York 1% Fuel Oil vs Brent 1st Line Swap (NFB)

The U.S.-based, physical base products above appear in Platts U.S. Marketscan.

  • Singapore 10ppm Gasoil Swap (GST)

This product appears in Platts Asia-Pacific/Arab Gulf Marketscan.

  • NYH Heating Oil 1st Line vs Brent 1st Line Swap (HBT)
  • RBOB Gasoline 1st Line vs Brent 1st Line Swap (RBR)

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.

About IntercontinentalExchange

IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries.  

The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE Futures Europe and ICE Clear Europe. All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2010, as filed with the SEC on February 9, 2011.


SOURCE IntercontinentalExchange