AMSTERDAM & LONDON--(BUSINESS WIRE)--IntercontinentalExchange Group (NYSE:ICE), the leading global network of exchanges and clearing houses, today announced that it has completed the transition of the ICE Endex Dutch and Belgian natural gas spot markets and the Dutch gas storage market to the ICE trading platform.
The transition for the ICE Endex Dutch Title Transfer Facility (TTF) and Belgian Zeebrugge Trading Point (ZTP) spot markets was successfully completed yesterday, April 29, 2014 and involved 50 trading members. The clearing, settlement and nominations services will continue to be provided by APX Group.
ICE Endex operates the natural gas spot markets in Belgium, the Netherlands and the United Kingdom as well as the natural gas storage markets in the Netherlands and the United Kingdom. Following the migration, spot contracts for delivery at the TTF and the ZTP are now available for trading on ICE's front end trading system, WebICE, alongside ICE's portfolio of more than 800 energy contracts. Enhanced platform functionality includes the integration of independent software vendors and TTF-ZTP implied spread market trading capability.
David Peniket, President and Chief Operating Officer, ICE Futures Europe said: “The successful transition of the TTF and ZTP spot markets to the ICE trading platform is a significant milestone for our European infrastructure in serving 24/7 markets. By extending our widely distributed, high performance platform, ICE is committed to providing the sophisticated trading infrastructure required to serve our customers in specialised markets.”
Pieter Schuurs, President, ICE Endex said: "I would like to thank our customers for contributing to the smooth transition of the TTF and ZTP spot markets. We’re confident that the transition to ICE’s state-of-the-art trading infrastructure will improve our customers’ trading experience as well as consolidate ICE’s position as Europe’s leading energy exchange.”
In October 2013, ICE successfully completed the trading and clearing transition for the ICE Endex futures markets to the ICE platform and ICE Clear Europe, which involved 123 trading firms and 15 clearing member firms with approximately 466,983 contract sides and €90 million margin being transferred to ICE Clear Europe. In the six months after the migration to the ICE platform, average daily volume for the ICE Endex futures markets increased by 49.8%, compared to the average daily volume in the six months before the migration.
About IntercontinentalExchange Group
IntercontinentalExchange Group (NYSE: ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
Trademarks of ICE and/or its affiliates include IntercontinentalExchange, ICE, ICE block design, NYSE Euronext, NYSE, New York Stock Exchange, LIFFE and Euronext. Information regarding additional trademarks and intellectual property rights of IntercontinentalExchange Group, Inc. and/or its affiliates is located at https://www.theice.com/terms.jhtml and http://www.nyx.com/terms-use.
ICE Safe Harbour Statement
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, 2013, as filed with the SEC on February 14, 2014.