New contracts

ICE Launches 81 New Energy Futures, Options

Lineup includes fossil fuels and environmental products

Intercontinental Exchange (NYSE: ICE), the global exchanges operator and clearing services provider, will be introducing 81 new energy futures and options contracts on December 14, the bourse operator said in a press release.

The new contracts will be available for trading on ICE Futures Europe and UCE Futures U.S., to be cleared via ICE Clear Europe.

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The lineup comprises of 21 crude oil and fuels contracts, including both futures and options, six propane futures, and four coal options, to be traded on ICE Futures Europe. The remainder – 33 “Financial Power” contracts and 17 “Physical Environmental” futures and options, will be traded on ICE U.S.

Earlier this month, ICE acquired tech platform provider Trayport, a unit of GFI Group (NYSE: GFIG), for $650 million in an all-stock deal. The purchase will allow ICE to offer its clients a new set of services on the European energy markets, comprising utilities, gas, and coal options. GFI Group, the brokerage and trade execution services provider, was itself bought earlier in the year by BGC Partners (NASDAQ: BGCP), the inter-dealer broker. BGC Partners competed for the company with another industry major, CME Group, but beat the competition and acquired 56.3 per cent of the target company for a price of $5.45 in an all-cash deal.


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