IPE Extends Gas Oil Futures On Its Electronic Trading Platform

For the first time in its history, Gas Oil futures will be traded electronically between 0800 and 0900 London time. Pit hours will remain at 0915 to 1727 London time. The introduction of the extra hour will provide the facility for IPE Members to extend their market reach and will allow market participants to use our brokers at a time that may be more convenient to them.

All IPE Gas Oil brokers participated in the extensive pilot to test the system and are now in a position to offer this extra facility to the market. Gas Oil trades that take place during the electronic trading session will be included in the daily trade weighted average used widely by the physical market.

Jackie Bullimore, Head of Oil Markets, said "by extending the availability of Gas Oil futures on ETS II we are able to provide enhanced trading facilities to our Members and the market".

Extensive pilot testing of the new release of ETS II was undertaken not only for the purpose of extending Gas Oil futures but also to provide spread trade functionality. As a result, from 19 June spread trading will also be available to other markets using ETS II.