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Friday, April 3, 2020

Intercontinental Exchange News

Image: ICE

ICE Reports Milestone Trading of LNG Contracts

Intercontinental Exchange, operator of global exchanges and clearing houses and provider of data and listings services,  reported new milestones in the trading of the TTF natural gas and JKM LNG (Platts) contracts.In September, TTF Futures and Options hit an all-time monthly volume record of more than two million lots (2,023,848), equivalent to 1,484 TWh. TTF Futures set a new daily volume record on September 10 of 193,695 lots, equivalent to 142.1 TWh.TTF is the most liquid European natural gas benchmark…

ICE, Magellan to Offer Dock Capacity to Houston Oil Futures Customers

Intercontinental Exchange Inc and Magellan Midstream Partners LP said on Wednesday they would auction dock capacity at Magellan's terminals in Galena Park and Seabrook, Texas, for holders of ICE's Permian West Texas Intermediate (WTI) crude futures contracts.The monthly auction process will allow customers who purchase an ICE Permian WTI crude futures contract, deliverable at Magellan's East Houston terminal (MEH), the option to load crude directly onto a vessel at Galena Park and Seabrook dock facilities for export…

Pic:  International Maritime Organization (IMO)

ICE to Launch Marine Futures Contracts Ahead of IMO 2020 Sulfur Cap

The Intercontinental Exchange will launch new Marine Fuel 0.5% futures contracts in advance of the implementation of the 0.5% sulphur cap by the International Maritime Organization (IMO) in 2020.The operator of global exchanges and clearing houses and provider of data and listings services said in a press release that the new contracts are expected to launch on February 4, 2019, subject to completion of relevant regulatory processes.The new contracts have been developed in response…

Photo by Baltic Exchange

China Merchants Offers to Buy Baltic Exchange

China Merchants Group has made an informal bid for London’s Baltic Exchange, says a report in Reuters. The State-run conglomerate has made an informal offer through a subsidiary, China Merchants Securities. An acquisition of the Baltic, which was founded in 1744, would give the Chinese conglomerate ownership of the industry's benchmark indices - which could be further commercialized - and greater access to the multi-billion dollar freight derivatives market. It emerged in February that the Baltic Exchange…