CHICAGO AND TORONTO, Jan. 18 /CNW/ - IntercontinentalExchange Inc.
(NYSE: ICE), a leading operator of regulated global futures exchanges,
clearing houses and over-the-counter (OTC) markets, and TMX Group (TSX:
X), owner of Natural Gas Exchange Inc. (NGX) which offers leading trading and clearing services for natural gas,
crude oil and electricity contracts, today announced an agreement to
add Canadian and U.S. physical and Canadian financial crude oil products to their existing
clearing and technology alliance.
Under the terms of the agreement, NGX's Canadian physical crude products
will be offered for trading through ICE's electronic trading platform.
NGX will provide clearing services for the new physical crude contracts
that will be traded on ICE. ICE and NGX expect to launch the combined
offering in the first quarter of 2011. ICE launched financial products
against TMX Group's Canadian crude indices, the industry's most
comprehensive gauge of Canadian crude pricing, in December.
TMX Group entered the physical crude space in 2009 with the acquisition
of NetThruPut Inc. (NTP), a North American crude oil exchange and
clearing facility, whose crude oil products now transact through NGX.
NGX operates North America's leading clearing house for physical
Said Tom Kloet, CEO, TMX Group: "Market participants have responded
positively to the existing NGX-ICE alliance by continuing to post
record volumes in the areas we serve together. We are delighted to be
able to offer these world class energy trading and risk management
tools to our valued customers in crude."
Said ICE Chairman and CEO, Jeffrey C. Sprecher: "This agreement builds
on the success of our partnership with NGX in the North American
physical gas and power markets by creating risk management
opportunities and capital efficiencies for oil market participants."
ICE has served the global crude markets for over a decade through its
OTC energy markets and through London-based ICE Futures Europe. ICE
currently provides trading technology to NGX for Canadian natural gas
and power markets. NGX in turn provides physical clearing services for
ICE's U.S. physical natural gas markets. Since the launch of this alliance in 2008, these markets have seen strong volume growth.
About IntercontinentalExchange Intercontinental Exchange® (NYSE: ICE) operates leading regulated exchanges, trading platforms and
clearing houses serving the global markets for agricultural, credit,
currency, emissions, energy and equity index markets. ICE Futures
Europe® hosts trade in half of the world's crude and refined oil
futures. ICE Futures U.S.® and ICE Futures Canada(R) list agricultural,
currency and Russell Index markets. ICE offers trade execution and
processing for the credit derivatives markets through Creditex and ICE
Link(TM), respectively, and CDS clearing through ICE Trust(TM) and ICE
Clear Europe®. A component of the Russell 1000® and S&P 500 indexes,
ICE® serves customers in more than 70 countries and is headquartered in
Atlanta, with offices in New York, London, Chicago, Winnipeg, Calgary,
Houston and Singapore. www.theice.com
The following are trademarks of IntercontinentalExchange, Inc. and/or
its affiliate companies: IntercontinentalExchange,
IntercontinentalExchange & Design, ICE, ICE and block design, ICE
Futures Europe, and ICE Clear Europe. All other trademarks are the
property of their respective owners. For more information regarding
registered trademarks owned by IntercontinentalExchange, Inc. and/or
its affiliated companies, see https://www.theice.com/terms.jhtml
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995 - Statements in this press release regarding
IntercontinentalExchange's business that are not historical facts are
"forward-looking statements" that involve risks and uncertainties. For
a discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC) filings,
including, but not limited to, the risk factors in ICE's Annual Report
on Form 10-K for the year ended December 31, 2009, as filed with the
SEC on February 10, 2010.
About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets for
multiple asset classes including equities, fixed income and energy.
Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange, NGX,
Boston Options Exchange (BOX), Shorcan, Equicom and other TMX Group
companies provide trading markets, clearing facilities, data products
and other services to the global financial community. TMX Group is
headquartered in Toronto with offices in Montreal, Calgary, Vancouver
and Houston. For more information about TMX Group, visit our website
SOURCE Toronto Stock Exchange
For further information: