Counter

Waiting for Weather and Storage, Traders Play it Safe Tuesday

Despite higher early morning over-the-counter and cash market pricing, natural gas futures managed only to check sideways yesterday as traders were content to wait on the sidelines ahead of today’s release of fresh storage and weather information. The February contract closed at $2.281, 0.9 cents above Monday’s close and just about in the middle of its tight, $2.23-32 trading range. By comparison, the gains in the out months were larger, enabling the 12-month strip to post a 2.6-cent gain to finish at $2.585.

January 9, 2002

ICE Gains Foothold In UK Gas Market

After going live on Dec. 6 with over-the-counter (OTC) trading of UK natural gas on its system, IntercontinentalExchange (ICE) said the new offering is off to a strong start with 115 trades at the National Balancing Point (NBP) hub with volume of 205 million therms.

December 17, 2001

ICE Gains Successful Foothold In UK Gas Market

After going live on Dec. 6 with over-the-counter (OTC) trading of UK natural gas on its system, IntercontinentalExchange (ICE) said the new offering is off to a strong start with 115 trades at the National Balancing Point (NBP) hub with volume of 205 million therms.

December 11, 2001

Early Technical Failure Sets Tone for Futures Thursday

After extending as high as $3.14 in early morning over-the-counter Access trade, natural gas futures tumbled lower Thursday as fresh longs headed for the exits ahead of what is shaping up to be a volatile options expiration today. The November contract opened at $3.05, but came under heavy selling pressure about mid-morning Thursday after it was evident the contract had no chance of rebounding to levels seen hours earlier in the computer-only Access trading session. November finished the day at $2.938, more than 20 cents off its Access high but down only 4.3 cents for the session.

October 26, 2001

EnergyClear OTC Registration Approved

EnergyClear Corp., the first industry-sponsored over-the-counter (OTC) energy derivatives clearinghouse, has been approved for registration as a derivatives clearing organization (DCO) by the Commodity Futures Trading Commission. The registration as a DCO allows the Houston-based company to offer multilateral clearance and settlement of OTC energy trades, initially in the electricity and natural gas markets.

July 16, 2001

EnergyClear OTC Registration Approved

EnergyClear Corp., the first industry-sponsored over-the-counter (OTC) energy derivatives clearinghouse, has been approved for registration as a derivatives clearing organization (DCO) by the Commodity Futures Trading Commission. The registration as a DCO allows the Houston-based company to offer multilateral clearance and settlement of OTC energy trades, initially in the electricity and natural gas markets.

July 12, 2001

Industry Briefs

IntercontinentalExchange (ICE) reported a new single-day gas trading record on its electronic exchange for over-the-counter (OTC) energy and metals products. On Tuesday, a total of 142 Bcf of gas changed hands on ICE. Physical gas trades contributed over 30 Bcf to the total. So far, ICE has averaged 80 Bcf/d in April, which is more than four times the average daily volume in the first quarter 2001. About 300 traders have traded physical and financial gas on the exchange, completing about 35,000 transactions in 2001, ICE said, adding that it has become a “dominant force in electronic trading for OTC commodity products with current market share of North American natural gas and derivatives approximating 14%.” The exchange was founded in March 2000 by leading U.S. and European financial institutions and energy and natural resource firms. Based in Atlanta, the exchange’s partners include, American Electric Power, Aquila Energy, BP, Deutsche Bank AG, Duke Energy, El Paso Energy, Goldman Sachs, Morgan Stanley, Reliant Energy, Royal Dutch/Shell Group, SG Investment Banking, Mirant (formerly Southern Energy), Totalfina Elf, and Continental Power Exchange.

April 27, 2001

ICE Releases Six-Month Trading Volumes

In only six months since going live with its full spectrum of over-the-counter (OTC) products, Online trading platform IntercontinentalExchange (ICE), has made a significant impact on the energy and metals markets. The company said over 42,000 trades have been made on ICE since it commenced trading with a combined notional value of $70 billion. Trading volumes on ICE have been growing exponentially with average daily volume in March up 33% from February.

April 12, 2001

Industry Brief

Volumes on IntercontinentalExchange, an online marketplace forover-the-counter energy and metals, reported late last week that ithas notched another single day record on its power exchange,trading 4 mmMWh on March 22 on its power. The company said thetrading volume on that day was centered on the popular Cinergy Hub.The new record dethrones the one previously set on Feb. 27, whenthe exchange saw 3 mmMWh in trading.

March 26, 2001

ICE Sets One-day MWh Trading Record

The name “ICE” doesn’t seem to do the white-hot trading exchangejustice, after IntercontinentalExchange, which marketsover-the-counter energy and metals products, announced it tradedmore than 2 million MWh in one day — Thursday — just one monthafter going live with its complete energy portfolio.

November 20, 2000