IPE Extends Trading Hours For Brent Crude Futures On Its Electronic Platform

The IPE's Brent Crude futures contract will commence electronic trading on Monday 25 September 2000 between the hours of 08:00 and 09:45 London time. Trading hours in the pit will not change and will remain at 10:02 to 20:13 London time. As a result, hours of trading on Simex will reduce to reflect this extension to Brent Crude futures in the London time zone.

The addition of Brent Crude futures trading onto the IPE's successful energy trading system (ETS II) makes it the third contract to be traded electronically. Three years ago the Natural Gas futures contract was launched in conjunction with ETS and Gas Oil futures has traded for one hour electronically on a daily basis since 19 June 2000. Electricity futures will be launched in October on ETS II, making it the fourth contract to be traded electronically at the IPE. The utilisation of electronic trading by our Members means that the IPE now has almost 100 registered electronic traders.

Jackie Bullimore, Head of Oil Markets, said, "the Gas Oil experience has shown, especially in volatile times, the value of increased access. The extension of Brent Crude futures hours will offer the same enhancement to an even wider market audience".