IntercontinentalExchange (ICE) announced that beginning Monday, Feb. 9 it will offer clearing services for physical natural gas products at three additional points — Columbia Gulf Onshore, Columbia Gulf Mainline and Tennessee 500 Leg — through its exclusive alliance with Natural Gas Exchange (NGX). ICE already has 10 clearable locations at the Henry Hub, Malin, PGE Citygate, Demarc, NGPL-TEXOK, NGPL-Midcont, Panhandle, TCO, Dominion-South. and Transco Stn 65. The clearing services offered by NGX are an extension of ICE’s standard bilateral trading capabilities, which will remain unchanged. Similar to the cleared financial markets functionality, both cleared and bilateral orders will be displayed in the same price stream. There will be a fundamental change to the hours of operation for these new clearable markets. Trading hours will be 7:30 a.m. EST to noon EST for all Next Day and Balance of Month products. To use the physical clearing, traders will first need to establish an account with NGX. ICE first introduced cleared financial gas products (Henry Hub Swap) to the industry in 2002 and paper basis a short time later. ICE said the success of using a central counterparty to clear and settle transactions led to the strategic alliance between ICE and NGX. Traders are advised to contact ICEHELPDESK at (770) 738-2101 with technical issues.

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