IntercontinentalExchange (NYSE:ICE) , in accordance with the terms of its agreement with Intelligence Press, Inc. (IPI), ICE will have the exclusive right to license the natural gas indices published in the Natural Gas Intelligence (NGI) newsletters for exchange settlement and clearing beginning May 1, 2009.
ICE contracts referencing NGI indices and delivery points do not require modification as the exclusivity period takes effect. Market participants with existing positions benchmarked to NGI data who wish to maintain their positions may transfer open interest to ICE using ICE's block trade capabilities.
In March 2007, ICE entered into a purchase and leaseback agreement with IPI for the exclusive right to license the NGI indices. IPI continues to collect, aggregate and publish prices in the wholesale natural gas market. In addition to providing daily and monthly spot price discovery for the industry, NGI's indices are used by ICE and other licensees for daily and monthly settlement and clearing, particularly in the Canadian, Midwest and California natural gas markets.
Showing posts with label gas trading. Show all posts
Showing posts with label gas trading. Show all posts
Monday, 5 January 2009
Friday, 10 October 2008
CME Gas Trading
CME Group is launching 18 new natural gas basis, index and swing swaps futures contracts on ClearPort(R), beginning on October 19 for trade date October 20.
The new futures contracts and their commodity codes are: NGPL STX natural gas basis swap (T5); Algonquin Citygate natural gas basis swap (B4); TCO natural gas index swap (Q1); TETCO STX natural gas index swap (Q2); Tennessee Zone 0 natural gas index swap (Q4); Transco Zone 3 natural gas index swap (Y6); Tennessee 500 leg natural gas index swap (Y7); MichCon natural gas index swap (Y8); CIG Rockies natural gas index swap (Z8); TCO natural gas swing swap (A1); TETCO STX natural gas swing swap (T2); Tennessee Zone 0 natural gas swing swap (T4); Malin natural gas swing swap (W9); Stanfield natural gas swing swap (Q3); Transco Zone 3 natural gas swing swap (T6); Tennessee 500 leg natural gas swing swap (T7); MichCon natural gas swing swap (T8); and CIG Rockies natural gas swing swap (U8).
The basis and index swap futures contracts will be listed for 36 consecutive months, and the swing swap futures contracts will be listed for two consecutive months. The first listed month for all contracts will be November 2008.
The contract will be 2,500 mmBtus (10,000 million British thermal units) in size with a minimum price fluctuation of $0.0025 per mmBtu. For more information, please visit http://www.nymex.com/.
The new futures contracts and their commodity codes are: NGPL STX natural gas basis swap (T5); Algonquin Citygate natural gas basis swap (B4); TCO natural gas index swap (Q1); TETCO STX natural gas index swap (Q2); Tennessee Zone 0 natural gas index swap (Q4); Transco Zone 3 natural gas index swap (Y6); Tennessee 500 leg natural gas index swap (Y7); MichCon natural gas index swap (Y8); CIG Rockies natural gas index swap (Z8); TCO natural gas swing swap (A1); TETCO STX natural gas swing swap (T2); Tennessee Zone 0 natural gas swing swap (T4); Malin natural gas swing swap (W9); Stanfield natural gas swing swap (Q3); Transco Zone 3 natural gas swing swap (T6); Tennessee 500 leg natural gas swing swap (T7); MichCon natural gas swing swap (T8); and CIG Rockies natural gas swing swap (U8).
The basis and index swap futures contracts will be listed for 36 consecutive months, and the swing swap futures contracts will be listed for two consecutive months. The first listed month for all contracts will be November 2008.
The contract will be 2,500 mmBtus (10,000 million British thermal units) in size with a minimum price fluctuation of $0.0025 per mmBtu. For more information, please visit http://www.nymex.com/.
Monday, 15 September 2008
BP Canadian Gas Deal
BP Canada Energy Marketing Company (BP) and Secure Energy, Incorporated announced today that they have entered into a long term natural gas sales agreement whereby BP will purchase up to 67 million cubic feet of natural gas per day from the Secure Energy Decatur Plant once it has been constructed and becomes operational. Secure Energy will have the option to separately sell natural gas to industrial customers in the Decatur, Illinois area for a portion of its production and BP has agreed to purchase any natural gas not sold locally.
The Decatur plant will convert approximately 1.4 million tons of high- sulfur Illinois coal into over 20 billion cubic feet of natural gas each year. "We are quite pleased to have contracted with such a substantial counterparty as BP because the strength of BP's gas marketing enables Secure to focus on constructing and operating our plant knowing that our natural gas will be sold in our market. Completing this agreement is an important part of Secure Energy's plan to utilize America's abundant coal resources in an environmentally responsible way to help reduce our country's reliance on foreign sources of energy," said Jack Kenny, Co-Founder of Secure Energy.
"BP is proud to have been selected by Secure to market the output from their Decatur gasification project. We are also pleased to be a partner in Secure's vision of providing local solutions to Midwest natural gas consumers," said Lee Lunde, VP of Marketing and Trading for BP.
The Decatur plant will convert approximately 1.4 million tons of high- sulfur Illinois coal into over 20 billion cubic feet of natural gas each year. "We are quite pleased to have contracted with such a substantial counterparty as BP because the strength of BP's gas marketing enables Secure to focus on constructing and operating our plant knowing that our natural gas will be sold in our market. Completing this agreement is an important part of Secure Energy's plan to utilize America's abundant coal resources in an environmentally responsible way to help reduce our country's reliance on foreign sources of energy," said Jack Kenny, Co-Founder of Secure Energy.
"BP is proud to have been selected by Secure to market the output from their Decatur gasification project. We are also pleased to be a partner in Secure's vision of providing local solutions to Midwest natural gas consumers," said Lee Lunde, VP of Marketing and Trading for BP.
Thursday, 11 September 2008
ICE Reiterates Hours During Hurricane
IntercontinentalExchange (NYSE:ICE) , has issued a reminder in advance of Hurricane Ike that all ICE OTC markets, including the Henry Hub natural gas swap, are open around-the-clock throughout the weekend, per the exchange's standard seven-day per week operating schedule.
ICE OTC energy markets will be available beginning at midnight on Friday, September 12, continuously through 6:30 p.m. ET on Monday, September 15. The markets will re-open on Monday at 7:30 p.m. ET, per the standard operating hours.
ICE's crude oil futures markets on ICE Futures Europe will also maintain standard operating hours, re-opening the afternoon of Sunday, September 14 at 6:00 p.m. ET. ICE will expand its standard after-hours and weekend support. Market participants may contact the ICE Helpdesk at (770) 738-2101 for around-the-clock market support.
ICE OTC energy markets will be available beginning at midnight on Friday, September 12, continuously through 6:30 p.m. ET on Monday, September 15. The markets will re-open on Monday at 7:30 p.m. ET, per the standard operating hours.
ICE's crude oil futures markets on ICE Futures Europe will also maintain standard operating hours, re-opening the afternoon of Sunday, September 14 at 6:00 p.m. ET. ICE will expand its standard after-hours and weekend support. Market participants may contact the ICE Helpdesk at (770) 738-2101 for around-the-clock market support.
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