Following the migration of the IPE Natural Gas futures to the ICE platform on 4 October 2002, both existing and new market participants meeting regulatory criteria are taking advantage of the ability to access both futures and OTC markets on the same screen. In addition to the November record, October volumes were the 4th highest month on record, confirming the promising start to trading on the ICE system. Average daily volumes since the migration have been some 2,500 lots/day, which is 30 percent ahead of the corresponding period last year.
"The successful migration was the result of many months' joint planning between IPE, ICE and market participants. This marks the completion of the first phase of moving all IPE contracts to the ICE platform," said Jason Pegley, Strategy Development Manager at the IPE. He added, "We fully anticipate the planned future phases of this conversion to be equally successful."
