ATLANTA, March 24 /PRNewswire-FirstCall/ -- IntercontinentalExchange (NYSE:ICE), a leading operator of global derivatives exchanges and over-the- counter (OTC) markets, and Natural Gas Exchange Inc. (NGX), a leading energy exchange and clearinghouse, will offer clearing and settlement services for physical OTC natural gas contracts at the Henry Hub delivery point beginning Monday, April 7, 2008, pursuant to their previously announced alliance.
As with the physical clearing services successfully introduced on March 3 at PG&E Citygate and GTN Malin, NGX's clearing organization will serve as the central counterparty for the physical delivery and financial performance.
"The launch of physical clearing for two of ICE's Western hubs earlier this month surpassed our initial expectations," said Jeffrey C. Sprecher, Chairman and CEO of ICE. "We're pleased to have seen strong double-digit growth in the liquidity of these first cleared physical contracts, and strong demand from market participants for this service at the benchmark Henry Hub location." Peter Krenkel, President of NGX added: "We're delighted that so many ICE customers in the West have responded positively to the security, efficiency and liquidity NGX clearing offers, and we expect to see even more interest at the Hub." About IntercontinentalExchange IntercontinentalExchange(R) (NYSE:ICE) is a leading operator of global exchanges and over-the-counter (OTC) markets. ICE offers futures and OTC markets on a single trading platform, including markets for crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities and financial products such as canola, cocoa, coffee, cotton, ethanol, orange juice, wood pulp, sugar, foreign currency and equity index futures and options. ICE(R) conducts its energy futures markets, including the leading oil benchmark contracts, through its London-based exchange, ICE Futures Europe(TM). ICE conducts its global agricultural commodity, foreign exchange and equity index futures markets through its U.S. and Canadian exchanges, ICE Futures U.S.(TM) and ICE Futures Canada(TM), and offers clearing services through ICE Clear U.S.(TM). ICE's state-of-the-art electronic trading platform serves market participants in more than 55 countries. ICE is included in the Russell 1000(R) Index and the S&P 500 Index. Headquartered in Atlanta, ICE has offices in Calgary, Chicago, Houston, London, New York, Singapore and Winnipeg. For more information, please visit http://www.theice.com/.
About Natural Gas Exchange NGX is Canada's leading energy exchange and North America's largest physical clearing and settlement facility. Since 1994, NGX's unique market model has provided traders with one of the most highly liquid, secure and efficient environments available for trading and clearing natural gas and electricity contracts. NGX is based in Calgary and wholly owned by TSX Group, which collectively manages all aspects of Canada's senior and junior equity markets. For more information, please visit http://www.ngx.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such 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, 2007, as filed with the SEC on February 13, 2008. DATASOURCE: IntercontinentalExchange CONTACT: For IntercontinentalExchange: Investors, Kelly Loeffler, VP, Investor Relations & Corp. Communications, +1-770-857-4726, , or Sarah Stashak, Director, Investor & Public Relations, +1-770-857-0340, , both of IntercontinentalExchange; or Media, Ellen G. Resnick of Crystal Clear Communications, +1-773-929-9292 (o), or +1-312-399-9295 (c), , for IntercontinentalExchange; or for NGX: Investors, Paul Malcolmson, Director, Investor & Public Relations, +1-416-947-4317, , or Media, Steve Kee, Director, Marketing & Communications, +1-416-947-4682, , both of TSX Group Web site: http://www.theice.com/ http://www.ngx.com/
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