ICE launches 15 cleared OTC oil products

ATLANTA, March 14, 2011 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the introduction of 15 cleared OTC global oil products.

All of the new contracts will be available for the trade date of Monday, April 4, 2011. With the products announced today, ICE will offer more than 405 cleared OTC energy contracts, including more than 310 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.

The new contracts are:

  • Diesel 10ppm (UK) CIF NWE Cargoes vs Gasoil 1st Line Balmo Swap (DAA-DBE)
  • Diesel 10ppm CIF NWE Cargoes Swap (DCC)
  • Diesel 10ppm CIF NWE Cargoes vs Gasoil 1st Line Balmo Swap (DHA-DIE)
  • Diesel 10ppm FOB Rotterdam Barges Balmo Swap (CDA-CEE)
  • Gasoil 0.1% FOB MED Cargoes Swap (GOM)
  • ULSD 10ppm CIF NWE Cargoes Balmo Swap (FYA-FZE)
  • Diesel 10ppm FOB Rotterdam Barges Bullet Swap (FBG)

The Europe-based, physical base products above appear in Platts European Marketscan.

  • Fuel Oil 3% US Gulf Coast Balmo Swap (FPA-FQE)
  • Fuel Oil 1% New York Balmo Swap (FRA-FSE)
  • Gulf Coast ULSD vs Heating Oil 1st Line Swap (GOH)
  • Gulf Coast No.6 Fuel Oil vs Brent 1st Line Swap (GCS)
  • New York 1% Fuel Oil vs Brent 1st Line Swap (NFB)

The U.S.-based, physical base products above appear in Platts U.S. Marketscan.

  • Singapore 10ppm Gasoil Swap (GST)

This product appears in Platts Asia-Pacific/Arab Gulf Marketscan.

  • NYH Heating Oil 1st Line vs Brent 1st Line Swap (HBT)
  • RBOB Gasoline 1st Line vs Brent 1st Line Swap (RBR)

ICE Clear Europe enables the efficient development of new products to support the risk management needs of member firms and customers in ICE's global energy futures and OTC markets. In 2002, ICE pioneered the concept of cleared OTC energy contracts, which provide participants with access to centralized clearing and settlement arrangements while reducing bilateral credit risk and capital required for each OTC trade.

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