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IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace and soft commodities exchange, and its regulated subsidiary, the New York Board of Trade (NYBOT), announced the successful launch of side-by-side trading for the NYBOT’s physical soft commodity contracts, with more than 12,000 contracts changing hands electronically by the close of trading today. Beginning today, the NYBOT commodity contracts became available for electronic trading for the first time. Commodities offered included cocoa, coffee, cotton, orange juice and sugar, with traders accessing the ICE electronic trading platform through WebICE, the front-end provided by ICE, and through leading independent software vendors.
“With over 12,000 contracts traded electronically by more than 100 firms and hundreds of users, today’s launch of side-by-side trading is reaffirmation of NYBOT’s position as the leading global soft commodities exchange,” said NYBOT Chairman Fred Schoenhut. “We are pleased to offer our customers a choice in how they access our robust markets and appreciate the strong support of the community.”
“The strong introduction of screen trading for NYBOT’s benchmark contracts was gratifying given the dedicated efforts of our employees and the diligent preparations made by the floor community, clearers, customers, ISVs and quote vendors,” said Chuck Vice, ICE President and COO. “We completed months of work in a short timeframe and will be working to expand the product offering, add customers and screens, and further develop functionality.”
In November, NYBOT selected the ICE platform, a leading electronic commodity trading platform based on speed, functionality and global distribution. In the coming weeks, NYBOT’s currency and index products will be added to the platform. Electronic markets operate from 7:00 a.m. ET through 3:15 p.m. ET, with NYBOT’s floor hours remaining unchanged.
ICE closed on its transaction to acquire the NYBOT on January 12, 2007.
