ICE, Gasunie launch joint natural gas and power trading platform

LONDON, March 27 Wed Mar 27, 2013 6:58am EDT

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LONDON, March 27 (Reuters) - Intercontinental Exchange (ICE) and Dutch natural gas infrastructure company Gasunie are jointly launching a European gas and power trading platform, the companies said on Wednesday.

The launch of ICE Endex follows the separation earlier this year of energy exchange APX-ENDEX into a power spot and clearing entity, and a derivatives and spot gas group.

ICE Endex will be held 79.12 percent by ICE while Dutch government controlled Gasunie will have a 20.88 percent stake, the statement said.

"The launch of ICE Endex significantly strengthens our ability to serve participants in the continental European natural gas and power markets," said David Peniket, President and COO of ICE Futures Europe.

"We will bring our experience in the regulated North American and UK natural gas markets to establish and grow liquidity for natural gas hubs in continental Europe," he added.

The U.S. and British gas markets, known as Henrgy Hub and National Balancing Point, respectively are the two most liquid gas markets.

Amsterdam-based ICE Endex will offer spot and derivatives products for trading natural gas, power, biomass futures, as well as natural gas storage facilities.

ICE Endex is the home of the Dutch Title Transfer Facility (TTF) virtual gas trading point, continental Europe's leading natural gas trading hub.

The execution of ICE Endex derivatives products will migrate to ICE's trading platform later in 2013, subject to regulatory approval, the statement said.

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