INVESTORS ICE FUTURES TO LIST NEW FUTURES AND SPREADS IN APRIL
Released : 21 March 2006
New Heating Oil and Unleaded Gasoline Contracts Complement ICE Crude and Gas Oil Futures
ATLANTA, March 21 /PRNewswire-FirstCall/ --IntercontinentalExchange (NYSE: ICE), the leading electronic energymarketplace, announced today that ICE Futures, its regulated futuressubsidiary, will list two new electronically traded futures contracts andrelated spread products beginning the week of April 17. The new cash-settledproducts include ICE New York Harbor Unleaded Gasoline Blendstock (RBOB)Futures and ICE New York Harbor Heating Oil Futures, along with three spreadsor "cracks" between new and existing contracts. The new futurescontracts are subject to regulatory approval.
The ICE Heating Oil Futures will be the North Americanequivalent of ICE Futures' actively traded IPE Gas Oil futures contract. Pricedin U.S. dollars and cents per gallon, the contract will trade for 18consecutive months at a time. Each contract is sized at 42,000 gallons, theequivalent of 1,000 barrels.
The ICE Unleaded Gasoline Blendstock (RBOB) Futures Contractwill also be sized at 42,000 gallons and priced in U.S. dollars and cents pergallon. It will trade for 12 consecutive months at a time and will be based onReformulated Gasoline Blendstock for Oxygenate Blending for delivery in NewYork Harbor.
ICE Futures will also introduce "cracks" based on thespread between the price of ICE's West Texas Intermediate (WTI) Crude futurescontract and its new Heating Oil and Unleaded Gasoline futures contracts. Whencrude is refined, it produces usable products, such as heating oil and unleadedgasoline. The crack is the spread, or price differential, between the refinedproduct and the price of crude oil. The ICE Heating Oil Crack and the ICE RBOBUnleaded Gasoline Crack will each be available with a single click on the ICEtrading platform.
In addition, ICE Futures will launch a Gas Oil Crackrepresenting the spread between its benchmark IPE Brent Crude Futures contractand its IPE Gas Oil Futures contract. Its Gas Oil futures contract is now theworld's most actively traded heating oil futures contract, with average dailyvolume of 60,944 contracts in February.
"We are pleased to build on the recent success of our newICE WTI Crude Futures contract with a variety of new products based on customerdemand," said ICE Futures President and Chief Operating Officer DavidPeniket.
Each of the contracts will trade for 21 hours a day, from 8:00p.m. through 5:00 p.m. Eastern time the next day, and from 1:00 a.m. through10:00 p.m. local London time.
About IntercontinentalExchange
IntercontinentalExchange®; (NYSE: ICE) operates theleading electronic global futures and OTC marketplace for trading energycommodity contracts, including crude oil and refined products, natural gas,power and emissions. ICE conducts its markets for futures trading through itsregulated subsidiary, ICE Futures, Europe's leading energy futures and optionsexchange. ICE also offers a range of risk management and trading supportservices, including cleared OTC contracts, electronic trade confirmations andenergy market data. ICE's common stock began trading on the New York StockExchange on November 16, 2005. ICE is based in Atlanta, Georgia with offices inCalgary, Chicago, Houston, London, New York and Singapore. For moreinformation, please visit http://www.theice.com.
Safe Harbor Statement under the Private Securities LitigationReform Act of 1995
Statements in this press release regarding IntercontinentalExchange'sbusiness that are not historical facts are "forward-lookingstatements" that involve risks and uncertainties, including, but notlimited to, the benefits associated with the launch of the new ICE Futuresproducts. For a discussion of such risks and uncertainties, which could causeactual results to differ from those contained in the forward-lookingstatements, see the Company's Securities and Exchange Commission filings,including, but not limited to, the risk factors in Item 1(a) of the Company'sAnnual Report on Form 10-K, as filed with the Securities and ExchangeCommission on March 10, 2006, which are incorporated by reference into thispress release.
SOURCE IntercontinentalExchange
‐0‐ 03/21/2006
/CONTACT: Kelly Loeffler, VP, Investor and Public Relations of
IntercontinentalExchange, +1‐770‐857‐4726, [email protected]; or Ellen
Resnick of Crystal Clear Communications, +1‐773‐929‐9292, or mobile:
+1‐312‐399‐9295, [email protected], for IntercontinentalExchange / /Web site: http://www.theice.com /
(ICE)
CO: IntercontinentalExchange ST: Georgia IN: OIL FIN ENV SU:
EM ‐‐ NYTU050 ‐‐ 6021 03/21/2006 08:30 EST http://www.prnewswire.com
New Heating Oil and Unleaded Gasoline Contracts Complement ICE Crude and Gas Oil Futures
ATLANTA, March 21 /PRNewswire-FirstCall/ --IntercontinentalExchange (NYSE: ICE), the leading electronic energymarketplace, announced today that ICE Futures, its regulated futuressubsidiary, will list two new electronically traded futures contracts andrelated spread products beginning the week of April 17. The new cash-settledproducts include ICE New York Harbor Unleaded Gasoline Blendstock (RBOB)Futures and ICE New York Harbor Heating Oil Futures, along with three spreadsor "cracks" between new and existing contracts. The new futurescontracts are subject to regulatory approval.
The ICE Heating Oil Futures will be the North Americanequivalent of ICE Futures' actively traded IPE Gas Oil futures contract. Pricedin U.S. dollars and cents per gallon, the contract will trade for 18consecutive months at a time. Each contract is sized at 42,000 gallons, theequivalent of 1,000 barrels.
The ICE Unleaded Gasoline Blendstock (RBOB) Futures Contractwill also be sized at 42,000 gallons and priced in U.S. dollars and cents pergallon. It will trade for 12 consecutive months at a time and will be based onReformulated Gasoline Blendstock for Oxygenate Blending for delivery in NewYork Harbor.
ICE Futures will also introduce "cracks" based on thespread between the price of ICE's West Texas Intermediate (WTI) Crude futurescontract and its new Heating Oil and Unleaded Gasoline futures contracts. Whencrude is refined, it produces usable products, such as heating oil and unleadedgasoline. The crack is the spread, or price differential, between the refinedproduct and the price of crude oil. The ICE Heating Oil Crack and the ICE RBOBUnleaded Gasoline Crack will each be available with a single click on the ICEtrading platform.
In addition, ICE Futures will launch a Gas Oil Crackrepresenting the spread between its benchmark IPE Brent Crude Futures contractand its IPE Gas Oil Futures contract. Its Gas Oil futures contract is now theworld's most actively traded heating oil futures contract, with average dailyvolume of 60,944 contracts in February.
"We are pleased to build on the recent success of our newICE WTI Crude Futures contract with a variety of new products based on customerdemand," said ICE Futures President and Chief Operating Officer DavidPeniket.
Each of the contracts will trade for 21 hours a day, from 8:00p.m. through 5:00 p.m. Eastern time the next day, and from 1:00 a.m. through10:00 p.m. local London time.
About IntercontinentalExchange
IntercontinentalExchange®; (NYSE: ICE) operates theleading electronic global futures and OTC marketplace for trading energycommodity contracts, including crude oil and refined products, natural gas,power and emissions. ICE conducts its markets for futures trading through itsregulated subsidiary, ICE Futures, Europe's leading energy futures and optionsexchange. ICE also offers a range of risk management and trading supportservices, including cleared OTC contracts, electronic trade confirmations andenergy market data. ICE's common stock began trading on the New York StockExchange on November 16, 2005. ICE is based in Atlanta, Georgia with offices inCalgary, Chicago, Houston, London, New York and Singapore. For moreinformation, please visit http://www.theice.com.
Safe Harbor Statement under the Private Securities LitigationReform Act of 1995
Statements in this press release regarding IntercontinentalExchange'sbusiness that are not historical facts are "forward-lookingstatements" that involve risks and uncertainties, including, but notlimited to, the benefits associated with the launch of the new ICE Futuresproducts. For a discussion of such risks and uncertainties, which could causeactual results to differ from those contained in the forward-lookingstatements, see the Company's Securities and Exchange Commission filings,including, but not limited to, the risk factors in Item 1(a) of the Company'sAnnual Report on Form 10-K, as filed with the Securities and ExchangeCommission on March 10, 2006, which are incorporated by reference into thispress release. SOURCE IntercontinentalExchange ‐0‐ 03/21/2006 /CONTACT: Kelly Loeffler, VP, Investor and Public Relations of IntercontinentalExchange, +1‐770‐857‐4726, [email protected]; or Ellen Resnick of Crystal Clear Communications, +1‐773‐929‐9292, or mobile: +1‐312‐399‐9295, [email protected], for IntercontinentalExchange / /Web site: http://www.theice.com / (ICE)
CO: IntercontinentalExchange ST: Georgia IN: OIL FIN ENV SU:
EM ‐‐ NYTU050 ‐‐ 6021 03/21/2006 08:30 EST http://www.prnewswire.com
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