ICE Futures Sets July 17 As Launch Date For New Coal Contracts

IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace, announced that the launch date for the two new coal contracts listed by its regulated futures subsidiary, ICE Futures, will be July 17, 2006. The coal contracts are based on delivery to Rotterdam in the Netherlands and loading at Richards Bay in South Africa, and will be cash settled against the indices API 2 and API 4 as published in the Argus/McCloskey Coal Price Index Report. ICE Futures’ regulator, the Financial Services Authority, has indicated that it has no objections to the launch of the contracts.

The contracts are traded in multiples of 5,000 tonnes, with a minimum price fluctuation of five cents/tonne and are available for six months, six quarters and five seasons. The trading hours of the contracts will be 07:00 – 17:00 London time.

The availability of coal futures will complement the existing utilities markets offered by ICE Futures including emissions, natural gas and electricity futures contracts. The underlying Atlantic Basin coal market is growing rapidly and is currently approximately one billion tonnes annually, and clean-burn technology is making coal-fired power generation increasingly attractive across Europe and North America.