LONDON, March 27 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
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.