ICE Futures Europe Introduces ICE Heating Oil vs Brent Futures and ICE RBOB vs Brent Futures Crack Spreads

Mar 14, 2011, 08:30 ET from IntercontinentalExchange

LONDON, March 14, 2011 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced the introduction of the first Brent Crude cracks to U.S.-refined products on ICE Futures Europe. The new contracts, available for trading today, are:

  • ICE Heating Oil vs ICE Brent Futures Crack Spread
  • ICE RBOB Gasoline vs ICE Brent Futures Crack Spread

ICE Futures Europe is launching these ICE Brent-based cracks to U.S.-refined products in response to requests from U.S.-based market participants who require a tradable crack relationship to the global Brent Crude benchmark.

Brent is the most widely used contract for pricing global crude, including grades in Africa, the Middle East and Asia. Product cracks expressed against Brent for hedging and trading physical crude are widely used outside North America. The two new Brent-based cracks make it possible to effectively align U.S.-refined product pricing with the benchmark that best represents the global price of crude oil for refiners, traders and hedgers.

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.  

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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.


SOURCE IntercontinentalExchange