IntercontinentalExchange Announces Daily Volume Record in Heating Oil
LONDON, April 12, 2013 /PRNewswire/ — IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, today announced a daily volume record of 35,733 contracts was reached in ICE Heating Oil futures on April 11, 2013. The previous volume record was 26,850 contracts on March 6, 2013.
The ICE Heating Oil futures contract is based on New York Harbour ULSD Heating Oil, now with a 15 parts per million (ppm) sulphur content, from and including the May 2013 contract month. It is the North American equivalent of the actively-traded ICE Gasoil futures contract. Priced in U.S. dollars and cents per gallon, the contract trades for 36 consecutive months at a time. Each contract is sized at 42,000 gallons, the equivalent of 1,000 barrels.
ICE Futures Europe announced the change to the underlying specification of the Heating Oil futures and options contracts in June of last year. The move follows a bill issued by the New York State Senate which limits the sulphur content of heating oil to a maximum of 15 parts per million (ppm) from July 2012. The new specification aligns closely with the underlying quality of the ICE Low Sulphur Gasoil futures contract, launched in 2011.
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated exchanges and clearing houses serving the risk management needs of global markets for agricultural, credit, currency, emissions, energy and equity index products. www.theice.com
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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, 2012, as filed with the SEC on February 6, 2013.