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.
