NEW YORK, May 23, 2011 /PRNewswire/ -- Platts' physical market price assessments for oil, refined petroleum products, and North American natural gas have been selected as the basis for 27 new cleared over-the-counter (OTC) energy contracts by the IntercontinentalExchange (ICE), a U.S.-based operator of derivatives and OTC markets. Platts is a leading global provider of energy, petrochemicals and metals information and a top publisher of global benchmark price references.
"We welcome the fact that Platts price assessments for natural gas, fuel oil, gasoil, jet fuel, and crude oil continue to bring greater transparency to the energy market place," said Gerald Bueshel, Platts director of global licensing. "We're particularly pleased to see that ICE recognizes the benchmark value of Platts' ESPO price assessments, launched in December 2009 and the first-ever references available for Russia's petroleum flow from the Eastern Siberian Pacific Ocean pipeline targeted for Asia."
Trading and clearing of the new contracts began on May 23, 2011. With today's launch, the total number of ICE energy contracts settled and cleared against physical market price assessments published by Platts is approximately 172.
For more information on ICE's new Platts-based energy contracts visit this link: http://ir.theice.com/releasedetail.cfm?ReleaseID=575441.
The Platts price assessments, licensed by ICE, appear in such Platts publications as Platts Asia Pacific/Arab Gulf Marketscan, Platts Crude Oil Marketwire, Platts U.S. Marketscan, Platts Inside FERC's Gas Market Report, and Platts Gas Daily. For details of the methodology that underpins Platts' price assessment processes, visit: http://www.platts.com/MethodologyAndReferencesHome.
Platts, founded in 1909, is a division of The McGraw-Hill Companies (MHP). In addition to the above mentioned price assessments, Platts provides price, as well as supply/demand information and news across the full spectrum of energy commodities, including non-U.S. natural gas, liquefied natural gas, coal, nuclear power, oil, petrochemicals, electric power, carbon emissions, biofuels, as well as iron ore, steel and the broader metals complex.
For more information on the physical markets for crude oil, refined petroleum products and natural gas, visit the Platts website at www.platts.com.
*Platts does not sponsor, endorse, promote or sell ICE contracts.
Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for those 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 150 countries benefit from Platts' coverage of the oil, petrochemicals, natural gas, electricity, coal, nuclear power, shipping and metals markets. A division of The McGraw-Hill Companies, Platts has approximately 700 employees in more than a dozen cities worldwide, including London, Dubai, Singapore, New York and Houston. Visit http://www.platts.com for more information.
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.