IntercontinentalExchange plans to introduce more than 50 additional cleared contracts in its over-the-counter (OTC) markets during the first half of 2006, with the first ten contracts expected to be available for trading beginning Friday, March 3.
The first set of products consists of ten OTC swaps contracts based on North American and Canadian financially-settled natural gas, which are currently offered on the ICE platform. This introduction will be followed by additional cleared products to enhance ICE’s suite of cleared natural gas, power and oil contracts.
The initial set of new contracts available for OTC clearing includes: Alberta Basis Swap (CGPR); Chicago Basis Swap (NGI); Malin Basis Swap (NGI); PG&E Basis Swap (NGI); Socal Basis Swap (NGI); Rockies Basis Swap (Platts Inside FERC); Sumas Basis Swap (Platts Inside FERC); Houston Ship Channel Basis Swap (Platts Inside FERC); Henry Hub Basis Swap (Platts Inside FERC); Henry Hub Index Swap (Platts Inside FERC/Gas Daily).
“As we continue to develop new electronically traded products, ICE is setting the standard within the OTC energy markets by offering products available for trading on both a cleared and bilateral basis on one screen and in the same price stream,” said Charles A. Vice, ICE president and COO.