ICE Endex Transitions the UK’s On-the-Day Commodity Market to the ICE Trading Platform
02 April 2015 - 8:36PM
Business Wire
Intercontinental Exchange (NYSE: ICE), the leading global
network of exchanges and clearing houses, today announced that ICE
Endex has transitioned the UK’s On-the-Day Commodity Market (“OCM”)
to the ICE trading platform on April 1, 2015. Designated by OFGEM
and appointed by National Grid Gas, ICE Endex is the market
operator of the OCM.
Following the transition of the OCM balancing and spot markets,
all ICE Endex markets, including derivatives, continental balancing
and spot, are available on WebICE, ICE’s front-end trading
screen. All National Balancing Point (NBP) products offered by
ICE Futures Europe and ICE Endex are listed on the
ICE platform.
Pieter Schuurs, President, ICE Endex said: “We would like to
thank National Grid and our market users for their hard work and
support in ensuring the smooth transition of the OCM to the ICE
trading platform. This transition is an important achievement for
us, because all ICE Endex markets are now available on ICE’s
state-of-the-art WebICE trading platform. By leveraging ICE’s
innovative trading technology and our natural gas expertise, ICE
Endex is committed to delivering balancing and spot services that
continue to meet the sophisticated requirements of the markets we
serve in the UK and continental Europe.”
The ICE Endex OCM Indices (System Average Price, System Marginal
Buy and Sell Prices) are used by National Grid Gas in the UK as the
official price for the settlement of imbalances. Market
enhancements on WebICE include the real time publication of these
indices, which will support the trading experience of market
users.
Including the OCM transition yesterday, ICE Endex successfully
transferred all of its markets to the ICE trading platform in three
tranches. The derivatives markets, which includes the flagship TTF
and ZTP futures contracts, were transitioned first in October 2013
and the continental spot and balancing markets were migrated to the
ICE trading platform in April 2014.
The OCM, TTF and ZTP spot and balancing markets were previously
hosted on the APX trading platform. All markets will continue to be
cleared by APX Clearing and this service is expected to be migrated
to ICE Clear Europe during 2015.
About Intercontinental Exchange
Intercontinental Exchange (NYSE:ICE) operates the leading
network of regulated exchanges and clearing houses. ICE’s futures
exchanges and clearing houses serve global commodity and financial
markets, providing risk management and capital efficiency. The New
York Stock Exchange is the world leader in capital raising and
equities trading.
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Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 - Statements in this press release regarding
ICE'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, 2014, as filed with the SEC on February 5, 2015.
SOURCE: Intercontinental Exchange
ICE-ENGY
Media Contact:Adaora Anunoby+44 20 7429
7147adaora.anunoby@theice.comorInvestor Contact:Kelly
Loeffler+1 770 857 4726kelly.loeffler@theice.com
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