ATLANTA & NEW YORK--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced several new enhancements to the ICE Permian WTI crude oil futures contract (Contract code: HOU).
“We’re excited about these enhancements to the Permian WTI futures contract,” said Jeff Barbuto, ICE’s Global Head of Oil Sales and business development. “Our customers have expressed interest in getting MEH-quality crude delivered directly to highly efficient export facilities. With these additional delivery options, new crude storage futures and unprecedented quality transparency, as well as futures spreads between Permian WTI, ICE Brent, ICE WTI and ICE Dubai, we’re offering a full suite of global crude oil risk management and trading solutions to our customers.”
“We are pleased the ICE Permian futures contract has consistently grown since its introduction last fall,” said Mark Roles, Magellan’s Vice President of Commercial Crude Oil. “The addition of physical delivery points at Galena Park and Seabrook Logistics along with the quality of the WTI distributed from these facilities provides customers with significant flexibility for domestic and export opportunities.”
ICE is home to the world’s global crude and refined oil markets. Around half of the world’s oil futures are traded on ICE’s markets, including futures and options on the global benchmark ICE Brent crude, the U.S. benchmark West Texas Intermediate (WTI) crude, the Middle Eastern and Asian benchmark ICE Platts Dubai crude oil, Gasoil, Heating Oil and RBOB Gasoline, as well as hundreds of additional grades and oil products.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 and Fortune Future 50 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company raises more capital than any other exchange in the world, driving economic growth and transforming markets.
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 at http://www.intercontinentalexchange.com/terms-of-use. 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, 2017, as filed with the SEC on February 7, 2018.
Copyright Business Wire 2019