AMSTERDAM & LONDON–(BUSINESS WIRE)–Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, and home to the broadest range of benchmarks to support the liberalization of natural gas, today announced plans to launch TTF Natural Gas Calendar Spread Options (CSO) on December 11, 2023, subject to regulatory approval.
TTF is the global benchmark for natural gas and TTF CSOs allow market participants to take a position on the expected price differentials between TTF natural gas futures with different delivery months. ICE expects to list TTF CSOs for a range of delivery months, including 1-month to 6-month and 12-month contracts.
“By expanding our TTF offering to include CSOs we are giving our customers an additional tool to address natural gas price fluctuations as well as the opportunity to leverage physical assets effectively to manage seasonal trends and natural gas storage costs,” said Gordon Bennett, Managing Director, Utility Markets at ICE. “ICE provides customers with the largest marketplace in the world to trade energy and environmental derivatives, providing price signals integral to managing risk.”
Following a record third quarter this year, open interest (OI) in TTF natural gas futures and options is up 58% year-over-year (y/y) at 2.8 million contracts with TTF seeing record participation, and OI out to December 2032. In ICE TTF options, OI is up 84% at 1.3 million contracts.
TTF CSOs will become part of ICE’s broader global commodities portfolio, which includes the benchmarks ICE Brent crude, Gasoil, ICE Dubai (Platts), Henry Hub, Canadian AECO, U.K. NBP, and ICE JKM LNG (Platts), where OI is at a record 56.3 million contracts, up 19% y/y.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.
Source: Intercontinental Exchange
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