The New York Mercantile Exchange (Nymex) and ICAP plan to launch on July 18 an electronic market in same-day over-the-counter (OTC) options on prompt-month Nymex futures settlement prices for crude oil and natural gas.
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Senate Blocks Oversight of OTC Energy Derivatives for Second Time
An amendment sponsored by Sen. Dianne Feinstein (D-CA) to regulate the trading of over-the-counter (OTC) energy derivatives was shot down last Wednesday, marking the second defeat for the controversial proposal.
Senate Blocks Regulation of OTC Energy Derivatives for Second Time
An amendment sponsored by Sen. Dianne Feinstein (D-CA) to regulate the trading of over-the-counter energy derivatives was shot down Wednesday, marking the second defeat for the controversial proposal.
Most of Market Still Firming, But Declines Seen Friday
Sizeable declines at New England points and small ones on a couple of Rockies pipes were the major exceptions to continued moderate bullishness in the rest of the cash market Thursday. Most points ranged from flat to about a quarter higher. Much like the day before, a majority of gains were in the teens.
ICE Countersues Nymex for Abuse of Monopoly Power
IntercontinentalExchange (ICE), the energy industry’s largest over-the-counter (OTC) trading platform operator, filed an answer and a counterclaim Monday to the New York Mercantile Exchange’s (Nymex) lawsuit in November. ICE is charging Nymex with abuse of monopoly power for claiming copyright protection over its settlement prices and for its recent efforts to launch an OTC trading platform similar to the one ICE currently operates.
Nymex Plans New Trading Session, Clearing for Multiple OTC Products
The New York Mercantile Exchange (Nymex) opened a new 90-minute trading session on Friday for 32 new over-the-counter energy contracts, including multiple natural gas basis contracts and some new 400 MWh power contracts based on delivery in New York. Nymex said it also is providing clearing services for the new contracts.
Nymex Plans New Trading Session, Clearing for Multiple OTC Products
The New York Mercantile Exchange (Nymex) plans to open a new 90-minute trading session on Friday for 32 new over-the-counter energy contracts, including multiple natural gas basis contracts and some new 400 MWh power contracts based on delivery in New York. Nymex said it also will provide clearing services for the new contracts.
ICE Clears $10B in U.S. Gas Contracts
IntercontinentalExchange (ICE) flexed its muscles on Thursday, revealing its strong position in the U.S. over-the-counter (OTC) natural gas market. The exchange said about one million natural gas contracts have been cleared through its system since March with a notional value of about $10 billion. ICE said it also set a new daily cleared volume record for natural gas transactions in the United Kingdom on Thursday and has cleared more than one billion therms in the that country since September.
Wave of Softness Broken by San Juan/Rockies Upticks
Modest to large gains in the Rockies and San Juan Basin ran counter to an overall trend Monday of price decreases that in only a few cases varied from a range of about a dime to 20 cents.
Nymex Clears $1.5B in OTC Transactions
The New York Mercantile Exchange (Nymex) has extended its energy market dominance into the over-the-counter (OTC) market by clearing $1.5 billion in OTC instruments since starting OTC clearing at the end of May. As of Nov. 1, Nymex has cleared 441.1 trillion Btus of gas and 152,800 MWh of power.