NGX, ICE Form North American Technology and Physical Clearing Alliance

    -   Integrated trading, clearing offering to transform the markets for
        physical gas and power in U.S., Canada
    -   Joint conference call to be held at 8:45 a.m. ET (7:45 a.m. CT)
    -   Media questions are invited from 9:15 a.m. ET (8:15 a.m. CT)

    CHICAGO and CALGARY, March 28 /CNW/ - TSX Group Inc. (TSX: X), and
IntercontinentalExchange, Inc. (NYSE:   ICE) today announced the formation of a
transformative technology and clearing alliance for the North American natural
gas and Canadian power markets. The alliance brings together the respective
strengths of TSX subsidiary Natural Gas Exchange Inc. (NGX), Canada's leading
energy exchange and North America's leading physical clearing and settlement
facility, and ICE, the world's leading electronic energy marketplace and soft
commodities exchange.
    Under the arrangement, the cleared and bilateral markets for North
American physical natural gas and Canadian electricity operated by NGX and ICE
will be offered together on ICE's leading electronic commodities trading
platform. In turn, NGX will serve as the clearinghouse for these products.
This will complement the clearing ICE offers in its highly liquid
over-the-counter markets for financial contracts. NGX will also use the
ICEBlock(sm) system to electronically accept for clearing off-exchange
transactions in financial gas and other energy products.
    NGX's highly effective clearing and settlement model has achieved
unparalleled success in facilitating physical energy transactions, giving
Canada exceptional liquidity in its physical gas markets. NGX has enabled
almost $300 billion of physical gas transactions since its inception in 1994.
In 2006 more than 8.1 trillion cubic feet of gas traded on NGX.
    ICE maintains and develops proprietary leading-edge technology for the
global commodity markets. Thousands of market participants worldwide rely on
the liquidity, speed and reliability of ICE's Internet-accessible trading
platform. Hundreds of products are traded daily on ICE's high performance
platform, which operates seven days a week, 23 hours each day. In addition,
ICE offers the most liquid, cleared natural gas and power swaps markets in
North America.
    "This alliance will transform and grow the physical energy markets in
North America," said NGX President Peter Krenkel. "We are combining the
complementary, proven solutions of two established market leaders, and we'll
be starting with unparalleled market penetration. Combining our physical and
financial markets on a single clearing-supported technology platform will
provide NGX and ICE customers with greater execution opportunities, together
with a more efficient desktop and back office."
    "Our agreement with NGX marks the first time that a suite of physical
energy products will be offered in conjunction with the ability to clear these
physical contracts on the ICE platform," said ICE Chairman and CEO Jeffrey C.
Sprecher. "We are pleased to round out our offering in partnering with the
clear leader in the Canadian energy markets and we see many opportunities for
growth together.
    "Today, ICE offers the broadest connectivity and most sophisticated
technology platform for energy and commodity markets. We introduced our
innovative financial clearing solution for energy products in 2002, and NGX
introduced physical clearing over a decade ago. In that time, customers have
benefited from the removal of counterparty credit risk in bilateral
transactions, and the liquidity that this brings by expanding trading
    TSX CEO Richard Nesbitt said, "Since acquiring NGX in 2004, TSX has
demonstrated a commitment to supporting NGX's growth beyond Canada, as we
expand our own international footprint in the rapidly expanding resources
sector. This alliance marks a significant step along that path. There can be
no better partner than ICE, which has established the world's leading
electronic energy trading platform and with whom we share a common philosophy
on how to deliver a superior product.
    "Each party pursued this alliance in the context of a long-term strategy
and selected the other as its ideal partner. Over the past year, we have taken
time to carefully plan and leverage the respective strengths of NGX and ICE in
a way that will proactively support the evolution of the market."
    Other terms of the alliance have not been disclosed. It is not expected
to be material for either party in 2007. The terms include certain usual and
customary conditions, including applicable regulatory filings and approvals.
The combined offering is expected to launch in the third quarter of 2007.

    Conference Call

    The parties will hold a joint conference call at 8:45 a.m. ET
(7:45 a.m. CT) to provide customers additional information about their
alliance. The call is also open to media and the investment community.
Questions from the media will be taken on this call from approximately
9:15 a.m. ET (8:15 a.m. CT).

    Participant Line - Toll free:     877-258-8842
    Participant Line - International: 973-582-2839
    Passcode:       8623177

    Replay information:
    Toll free:      877-519-4471
    International:  973-341-3080
    Passcode:       8623177

    Live audio webcasts of the call will be available at under
About ICE/Investor Relations and at under Investor Relations.


    About TSX Group Inc.
    TSX Group (TSX: X) operates Canada's two national stock exchanges,
Toronto Stock Exchange serving the senior equity market and TSX Venture
Exchange serving the public venture equity market, Natural Gas Exchange (NGX),
a leading North American exchange for the trading and clearing of natural gas
and electricity contracts and Shorcan Brokers Limited, the country's first
fixed income interdealer broker. TSX are the initials attached to the core
equity operations of TSX Group: Toronto Stock Exchange, TSX Venture Exchange,
TSX Markets, TSX Datalinx, and TSX Technologies. TSX Group is headquartered in
Toronto and maintains offices in Montreal, Winnipeg, Calgary and Vancouver.
For more information please visit, and

    About IntercontinentalExchange
    IntercontinentalExchange(R) (NYSE:   ICE) operates the leading global,
electronic marketplace for trading both futures and OTC energy contracts and
the leading soft commodity exchange. ICE's markets offer access to a range of
contracts based on crude oil and refined products, natural gas, power and
emissions, as well as agricultural commodities including cocoa, coffee,
cotton, ethanol, orange juice, wood pulp and sugar, in addition to currency
and index futures and options. ICE(R) conducts its energy futures markets
through its U.K. regulated London-based subsidiary, ICE Futures, Europe's
leading energy exchange. ICE Futures offers liquid markets in the world's
leading oil benchmarks, Brent Crude futures and West Texas Intermediate (WTI)
Crude futures, trading nearly half of the world's global crude futures by
volume of commodity traded. ICE conducts its agricultural commodity futures
and options markets through its U.S. regulated subsidiary, the New York Board
of Trade(R). For more than a century, the NYBOT(R) has provided global markets
for food, fiber and financial products. ICE was added to the Russell 1000(R)
Index on June 30, 2006. Headquartered in Atlanta, ICE also has offices in
Calgary, Chicago, Houston, London, New York and Singapore. For more
information, please visit and

    Certain statements constitute forward-looking statements and are not
historical facts but are based on certain assumptions and reflect TSX Group's
current expectations regarding future results or events. These statements are
subject to a number of risks and uncertainties that could cause actual results
or events to differ materially. Some of the risk factors that could cause
actual results or events to differ materially from current expectations are
outlined in TSX Group's Annual Report, Quarterly Reports and Annual
Information Form filed with securities regulators from time to time.

    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 such risks and uncertainties, which could cause actual results
to differ from those contained in the forward-looking statements, see the
Company's Securities and Exchange Commission filings, including, but not
limited to, the risk factors in the Company's Annual Report on Form 10-K for
the year ended December 31, 2006, as filed with the Securities and Exchange
Commission on February 26, 2007.

For further information:

For further information: Steve Kee, Director, Media & Marketing, TSX
Group Inc., (416) 947-4682, Toll Free 1-888-873-8392, Cellular (416) 358-3714,; Sylvin Gauthier, Information Coordinator, TSX Group Inc.
Montreal office, (514) 788-2414,; Paul Malcolmson,
Director, Investor Relations, TSX Group Inc., (416) 947-4317; Kelly Loeffler, VP, Investor Relations and Corp.
Communications, IntercontinentalExchange, (770) 857-4726,; Ellen Resnick, Crystal Clear Communications (for
ICE), (773) 929-9292 (o); (312) 399-9295 (c),

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