IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace and soft commodity exchange, announced that an expanded range of over-the-counter (OTC) crude oil products covering the European, Asian and Middle Eastern markets will be offered for trading on the ICE platform.
Two OTC oil products will be available on ICE for clearing beginning on August 3:
In addition, several new bilateral contracts were listed earlier this month, including the Dubai, Oman, Tapis, Upper Zakum and Minas delivery points. These contracts are offered in a range of strips, partials and cargoes and include financial or physical delivery:
These products will settle on the respective Platts indexes which serve as the benchmark for pricing each delivery point. Platts, a division of The McGraw-Hill Companies, is a leading provider of energy price indexes to the global energy markets. These new products complement the hundreds of crude and refined oil products, natural gas and power contacts listed in ICE’s global OTC markets.
About IntercontinentalExchange
IntercontinentalExchange® (NYSE: ICE) operates the leading global, electronic marketplace for trading both futures and OTC energy contracts and the leading soft commodity exchange. ICE’s markets offer access to a range of contracts based on crude oil and refined products, natural gas, power and emissions, as well as soft commodities including cocoa, coffee, cotton, ethanol, orange juice, wood pulp and sugar, in addition to currency and index futures and options. ICE® conducts its energy futures markets through its U.K. regulated London-based subsidiary, ICE Futures, Europe’s leading energy exchange. ICE Futures offers liquid markets in the world’s leading oil benchmarks, Brent Crude futures and West Texas Intermediate (WTI) Crude futures, trading nearly half of the world’s global crude futures by volume of commodity traded. ICE conducts its soft commodity futures and options markets through its U.S. regulated subsidiary, the New York Board of Trade®. For more than a century, the NYBOT® has provided global markets for food, fiber and financial products. ICE was added to the Russell 1000® Index on June 30, 2006. Headquartered in Atlanta, ICE also has offices in Calgary, Chicago, Houston, London, New York and Singapore. For more information, please visit www.theice.com and www.nybot.com.