NEW YORK, April 4, 2011 /PRNewswire/ -- Platts' physical price data have been selected as the basis for 13 new exchange contracts for crude oil and refined petroleum products by the IntercontinentalExchange (ICE), a U.S.-based operator of derivatives and over-the-counter (OTC) markets. Platts is a leading global energy, petrochemicals and metals information provider and a top publisher of global benchmark price references.
"The expanding utilization of Platts data in exchange-traded contracts underlines our lead role in price benchmark development worldwide," said Gerald Bueshel, Platts director of global licensing. "We are committed to delivering trading solutions through our active engagement with industry principals and exchanges, with the goal of providing fully transparent reference prices."
With today's launch, the total number of ICE energy contracts settled and cleared against physical market price assessments published by Platts is approximately 125.
For more information on ICE's new Platts-based energy contracts visit this link: http://ir.theice.com/releasedetail.cfm?ReleaseID=556744. The contracts began trading and clearing on April 4, 2011.
The Platts price assessments data, licensed by ICE for its new contracts, appear in such Platts publications as Platts European Marketscan, Platts U.S. Marketscan and Platts Asia-Pacific/Arab Gulf Marketscan. The daily price assessments reflect values as determined between buyer and seller in the open market and represent the value at the close of the physical market trading day.
The underlying assessment methodology for Platts' petroleum price assessment processes can be found at: http://www.platts.com/MethodologyAndSpecifications/Oil.
Platts, founded in 1909, is a division of The McGraw-Hill Companies (MHP). In addition to the above mentioned price assessments, Platts provides price, supply/demand information and news across the full spectrum of energy commodities, including other petroleum-based products, liquefied natural gas, coal, nuclear power, petrochemicals, electricity, carbon emissions, biofuels, as well as iron ore, steel and the broader metals complex.
*Platts does not sponsor, endorse, promote or sell ICE contracts.
About Platts: Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy, metals and petrochemicals information. With a century of business experience, Platts serves customers across more than 150 countries. An independent provider, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemical, shipping, and metals markets from 17 offices worldwide. Platts' real-time news, pricing, analytical services and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better business decisions. Additional information is available at http://www.platts.com.
About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies is a leading global financial information and education company that helps professionals and students succeed in the Knowledge Economy. Leading brands include Standard & Poor's, McGraw-Hill Education, Platts energy information services and J.D. Power and Associates. The Corporation has approximately 21,000 employees with more than 280 offices in 40 countries. Sales in 2010 were $6.2 billion. Additional information is available at http://www.mcgraw-hill.com.