Counter

Colder weekend trends in sections of the South and Midwest failed to inspire enough heating load to counter the bearish influences of generally moderate weather as winter enters its final week, the prior-decline of 11.9 cents by April futures and the dropoff of industrial demand during a weekend. As a result, prices fell at all but one point Friday.

The IntercontinentalExchange, Inc. (ICE) announced Wednesday it will introduce 23 new cleared over-the-counter (OTC) North American natural gas and power contracts. The new cleared swaps and options will be available for the trade date of Monday, Jan. 25, 2010.

Senate Banking Committee Chairman Christopher Dodd (D-CT) circulated a discussion draft last Tuesday that would require over-the-counter (OTC) derivative products to be centrally cleared and traded on regulated exchanges if they do not receive an exemption from federal regulators overseeing the futures and securities markets.

Senate Banking Committee Chairman Christopher Dodd (D-CT) circulated a discussion draft Tuesday that would require over-the-counter (OTC) derivative products to be centrally cleared and traded on regulated exchanges if they do not receive exemption from federal regulators overseeing the futures and securities markets.

IntercontinentalExchange Inc. (ICE) will be imposing position and accountability limits on its Henry Hub over-the-counter (OTC) swaps contract, starting with the February 2010 contract, to conform with directives from the Commodity Futures Exchange Commission (CFTC) regarding contracts that perform a significant price discovery function (SPDF).

IntercontinentalExchange Inc. (ICE) was expected to issue an advisory Thursday detailing plans to impose position and accountability limits on its Henry Hub over-the-counter (OTC) swaps contract to conform with directives from the Commodity Futures Exchange Commission (CFTC). The changes will take effect with the February 2010 contract.

The Commodity Futures Trading Commission (CFTC) reported Thursday that it is reviewing another over-the-counter (OTC) natural gas contract to determine whether it performs a significant price-discovery function (SPDF), which would subject it to agency position limits and other restrictions.

The US Commodity Futures Trading Commission (CFTC) has added to its roster of natural gas over-the-counter contracts it is investigating to determine if they perform a significant price-discovery function and qualify for CFTC restrictions.

Rep. Barney Frank (D-MA), chairman of the House Financial Services Committee, Wednesday offered a manager’s amendment to his over-the-counter (OTC) derivatives bill that would exempt end-users — such as energy producers and consumers — from having to trade on exchanges if they use derivatives to hedge commercial risk. A roll call vote on the proposal, which appears to have the support of the committee, is expected Thursday.