Press Release
ICE Futures Europe to Launch IHS McCloskey Indonesian Sub-Bituminous FOB Marker Coal Contracts
LONDON -- 10 December 2010
IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced it will launch an Indonesian sub-bituminous coal contract on ICE Futures Europe in the early part of 2011, subject to regulatory approval. The contract will be cash settled against the IHS McCloskey Indonesian Sub-Bituminous FOB marker. The contracts will be traded in multiples of 1000 tonnes, with a minimum price fluctuation of $0.05.
David Peniket, President and COO, ICE Futures Europe said: "We are pleased to respond to the needs of our market participants for hedging and risk management tools by building on our global coal complex including ICE’s existing international seaborne contracts, Rotterdam, Richard’s Bay and Newcastle.”
The Indonesian sub-bituminous contracts will complement the existing utilities markets offered by ICE Futures Europe, including emissions, natural gas and electricity futures contracts. Margin offsets will be made available. The cleared coal market is growing rapidly and this year will exceed 1 billion tonnes.
IHS McCloskey and IHS McCloskey Indonesian Sub-Bituminous FOB marker are trade marks of IHS Global Limited. All copyrights and database rights in the IHS McCloskey Indonesian Sub-Bituminous FOB marker belong exclusively to IHS Global Limited. All rights reserved.
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