ATLANTA, April 21, 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 19 cleared OTC North American natural gas contracts.
All of the new contracts will be available for the trade date of Monday, May 16, 2011. With the products announced today, ICE will offer more than 420 cleared OTC energy contracts, including more than 325 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.
The new contracts are:
Natural Gas Basis Swap: Southern Star TX-OK-KS (OUB)
Natural Gas Index Swap: Southern Star TX-OK-KS (OUI)
Natural Gas Swing Swap: Southern Star TX-OK-KS (OUS)
Natural Gas Index Swap: Florida Gas – Zone 3 (FTI)
Natural Gas Swing Swap: Florida Gas – Zone 3 (FTS)
Natural Gas Basis Swap: Transco Zone 6 (NNY) (TPB)
Natural Gas Index Swap: Transco Zone 6 (NNY) (TPI)
Natural Gas Swing Swap: Transco Zone 6 (NNY) (TPS)
Natural Gas Index Swap: NNG Demarcation (DEI)
Natural Gas Swing Swap: NNG Demarcation (DES)
Natural Gas Index Swap: Sonat (SOI)
Natural Gas Swing Swap: Sonat (SOS)
Natural Gas Index Swap: Algonquin City-gates (ALI)
Natural Gas Swing Swap: Algonquin City-gates (ALS)
Natural Gas Index Swap: TETCO-ELA (TEI)
Natural Gas Basis Swap: TETCO-WLA (TWB)
Natural Gas Index Swap: TETCO-WLA (TWI)
Natural Gas Index Swap: Texas Gas Zone 1 (TGI)
Natural Gas Swing Swap: Texas Gas Zone 1 (TGS)
All basis swaps reference Platts Inside FERC's Gas Market Report. All swing swaps reference Platts Gas Daily Daily. All index swaps reference both Platts publications.
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.
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. www.theice.com
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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.