ICE and ICIS to enhance European gas benchmark offerings

02 November, 2020


ICIS, a global source of Independent Commodity Intelligence Services, and Intercontinental Exchange, Inc. (ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, are offering market participants the ability to trade on ICIS European Gas Benchmarks.

This allows ICE to list physically settled, as well as financially settled, European natural gas prompt contracts. On December 7, 2020, ICE plans to start offering daily natural gas futures contracts which settle against the ICIS benchmark Dutch TTF and British NBP day-ahead and weekend price assessments, subject to regulatory review.

The TTF and NBP natural gas benchmark prices, produced by ICIS, are referenced throughout the world and are traded and benchmarked across the European natural gas market. The launch of the new contracts marks the first cleared gas prompt contract that is physically settled on ICIS’ European Gas Benchmarks.

The ICIS Natural Gas Daily Futures have been driven by customer demand, offering the industry additional opportunities to manage risk, trade and clear these European natural gas benchmarks.

"As a leading source of market intelligence and price data for the European gas industry, we are delighted to be working with ICE to provide flexibility that will allow the industry to manage risk with confidence, enabling decisions that matter," said Stuart Wood, Head of Energy Strategy at ICIS. "This reflects why ICIS holds the trust and recognition of energy market participants, given our 30 years of experience in providing independent high-quality pricing information, news and analysis on European gas markets."

ICE is home to the TTF and NBP natural gas derivatives markets, Europe’s leading natural gas benchmarks, providing market participants with access to deep and liquid markets to manage their risk exposure.

The natural gas market is facing rapid change as it transitions to form a truly global gas market. Europe’s role has taken centre stage as the world’s balancing market, resulting in TTF becoming the benchmark of choice for more and more market participants to hedge their natural gas price risk.

"The globalization of natural gas is propelling the growth of TTF into a global gas benchmark. Throughout 2020 it has continued to break new records in trading activity as more and more participants choose TTF to hedge their exposure to global gas prices," said Gordon Bennett, Managing Director, Utility Markets at Intercontinental Exchange. "Providing the market with the ability to settle TTF and NBP futures against the ICIS price assessments will provide additional helpful tools to manage price risks on the prompt market."

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About ICIS

ICISICIS is a trusted source of intelligence for the global energy, chemical and fertilizer industries. We are a division of RELX, a FTSE 15 company with a market cap of £31.6 billion and an employee base of over 30,000 experts across 40 countries.

At ICIS, we help businesses make strategic decisions, mitigate risk, improve productivity and capitalise on new opportunities. We make some of the world’s most important markets more trusted and predictable by providing data services, thought leadership and decision tools. As a result of our unmatched global presence, we can deliver targeted connected intelligence to influence thousands of decisions across supply chains every single day. We shape the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.

About Intercontinental Exchange (ICE)

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company and provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing, trading and clearing of a broad array of derivatives contracts and financial securities across major asset classes. Our comprehensive data services offering supports the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. As a leading technology provider for the U.S. residential mortgage industry, ICE Mortgage Technology provides the technology and infrastructure to transform and digitize U.S. residential mortgages, from application and loan origination through to final settlement.
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Source: Intercontinental Exchange