Intercontinentalexchange

Continuing its rapid expansion into the void left by EnronOnline, IntercontinentalExchange (ICE) is making a move into the European over-the-counter (OTC) gas and power markets with the introduction of markets for UK natural gas-related products in December.

Volumes and transactions have soared on IntercontinentalExchange (ICE), as Enron’s financial troubles have mounted causing credit concerns for counterparties on its online trading system, EnronOnline. ICE reported record volumes in the second week of November.

Volumes and transactions have soared on IntercontinentalExchange (ICE), as Enron’s financial troubles have mounted causing credit concerns for counterparties on its online trading system, EnronOnline. ICE reported record volumes last week in its strongest weekly performance in its 13-month history.

The struggle experienced by some electronic trading systems in the face of stiff competition from IntercontinentalExchange, EnronOnline, TradeSpark and other systems isn’t stopping E-lecTrade from launching its own power trading system this summer. The system is unique, however, in its effort to provide multiple structured power transaction types and risk management services real time and on an anonymous basis.

TradeSpark has proven it is not being left behind in the energy e-commerce battle with EnronOnline and IntercontinentalExchange (ICE). The electronic trading company reported that its energy trading marketplace, which is powered by eSpeed technology, has transacted $100 billion (notional value) in energy products since its launch in October 2000. The phenomenal growth is similar to that seen by EnronOnline in its first year of trading in 2000.

TradeSpark has proven it is not being left behind in the energy e-commerce battle with EnronOnline and IntercontinentalExchange (ICE). TradeSpark reported that its energy trading marketplace, which is powered by eSpeed technology, has transacted $100 billion (notional value) in energy products since its launch in October 2000. The phenomenal growth is similar to that seen by EnronOnline in its first year of trading in 2000.

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.

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.

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.