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ICE TTF Natural Gas Futures Contract Launches With Strong Support

March 22, 2010

LONDON, March 22 /PRNewswire/ — ICE Futures Europe, a leading regulated London-based futures exchange for global energy markets, today announced strong volumes in the first week of trading of the ICE TTF Natural Gas futures contract. ICE Futures Europe introduced the contract on 15 March.

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TTF Natural Gas futures volume in the first week were 1,560 lots, equivalent to over 1 million megawatt hours. As of close of trading on 19 March, the front-month April contract, the May contract, summer 2010, calendar 2011 and calendar 2012 all traded and established open interest. Over ten companies have been active in the market to date. Open interest was 810 contracts at close of business on Friday.

The first trade was executed by Total Gas and Power and Credit Suisse. The counterparties confirmed their participation in the first trade at the request of ICE Futures Europe.

Meindert Witteveen, Head of European energy and freight for Credit Suisse, commented: “The continental gas markets are growing in importance, and we are happy that ICE recognises this by launching the TTF product in this early stage. The ability to trade and clear TTF Dutch gas suits our clients and Credit Suisse’ growth into these markets.”

David Peniket, President and COO of ICE Futures Europe, said: “We are delighted with the level of activity on the ICE TTF contract and foresee continued growth opportunities with this market. Not only is the volume of trading impressive, but we have also had a diverse group of participants, including producers, suppliers and banks. Participants have recognised immediately the benefits of cross margining with the liquid ICE NBP futures, along with our competitive pricing.”

The ICE TTF Natural Gas futures contract is based on the Title Transfer Facility (TTF) in the Netherlands. The contract trades alongside ICE’s U.K. NBP Natural Gas futures contract, bringing together two of the most liquid European gas hubs on a single, globally distributed platform for the first time. The ICE NBP Natural Gas futures contract is the leading benchmark for U.K. natural gas, with record volume in excess of 2.7 million contracts in 2009.

About IntercontinentalExchange

IntercontinentalExchange® (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe® hosts trade in half of the world’s crude and refined oil futures. ICE Futures U.S.® and ICE Futures Canada® list agricultural, currencies and Russell Index markets. ICE® is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 55 countries. www.theice.com

The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, IntercontinentalExchange & Design, ICE, ICE and block design, ICE Processing and Creditex. 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.

SOURCE ICE Futures Europe


Source: newswire



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