To Establish Coal Contracts
A WSJ News Roundup
April 3, 2008; Page C14
IntercontinentalExchange Inc., the Atlanta operator of global derivatives exchanges and over-the-counter markets known as ICE, and globalCOAL, an electronic marketplace for thermal coal, agreed to develop and launch two new coal-futures contracts at ICE Futures Europe.
ICE Futures Europe plans to launch a financially settled futures contract based on the globalCOAL NEWC Index in this year's third quarter. The index is based on bids, offers and trades on the globalCOAL trading platform, with delivery in Newcastle, Australia. It is the leading reference point for over-the-counter trading in Asian coal markets, the exchanges said.
ICE and globalCOAL, which is operated by Global Coal Ltd., of London, also will work to develop a physically delivered coal-futures contract that it plans to launch later in the year, with delivery points in the Antwerp-Rotterdam-Amsterdam region, the main European hub for oil and coal trading.
The new contracts will be complementary to existing financially settled coal-futures contracts listed by ICE Futures Europe, the exchange said.
A competitor to ICE, Nymex Holdings Inc.'s New York Mercantile Exchange, a global energy-and-commodity-futures exchange, offers a coal-futures contract on domestic U.S. coal from central Appalachia.
"The development of futures is the next stage in the commoditization of the coal market," Eoghan Cunningham, globalCOAL's chief executive, said in a statement.
Like other commodities, coal prices have soared in the past year in response to rising demand, especially in growing areas such as China. About 40% of the electricity produced in the world comes from coal. Trading volume in futures and options contracts tied to commodities has soared, as well.
Regards,
frenchee
#board-4258 TSP Trend Timing: EFA (I), TLT (F), SPY (C), and VXF (S)
Recent ICE News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/20/2024 08:30:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/20/2024 08:30:02 PM
- Salt Financial Announces Strategic Collaboration with ICE to Explore Indices for Risk-Controlled Investment Products • PR Newswire (US) • 09/19/2024 04:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/18/2024 08:43:48 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/18/2024 08:43:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 08:30:12 PM
- ICE and IPC Systems Launch ICE Voice - A New Cloud-Based Audio Solution for Traders and Professional Investors • Business Wire • 09/18/2024 01:00:00 PM
- Longtime Servicing Client PNC Expands Use of ICE Data and Analytics to Further Benefit From End-to-End, Integrated Technology Ecosystem • Business Wire • 09/17/2024 01:00:00 PM
- ICE’s €STR Futures Open Interest Exceeds 500,000 Contracts • Business Wire • 09/13/2024 09:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/11/2024 08:30:06 PM
- ICE’s Global Natural Gas Markets Reach Record Liquidity • Business Wire • 09/11/2024 12:01:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/09/2024 08:27:18 PM
- U.K. Financial Conduct Authority Issues Final Announcement Regarding the Cessation of U.S. Dollar LIBOR® • Business Wire • 09/09/2024 09:00:00 AM
- Intercontinental Exchange Reports August 2024 Statistics • Business Wire • 09/05/2024 12:30:00 PM
- ICE Mortgage Monitor: Rate drops make August most affordable month since February, as home price growth cools to 12-month low • Business Wire • 09/04/2024 01:00:00 PM
- ICE、オーストラリア住宅ローン担保証券市場向けの新たなインデックススイートを開始 • Business Wire • 09/03/2024 05:53:00 AM
- ICE Launches New Suite of Indices for Australian Residential Mortgage-Backed Securities Market • Business Wire • 09/02/2024 10:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/29/2024 08:30:08 PM
- Intercontinental Exchange Chair & CEO Jeffrey C. Sprecher to Present at the Goldman Sachs Communacopia & Technology Conference on September 9 • Business Wire • 08/28/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/27/2024 08:30:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/27/2024 08:30:05 PM
- ICE Collaborates with Space Intelligence to Launch ICE’s Commodity Traceability Service • Business Wire • 08/27/2024 12:15:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/23/2024 08:28:20 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/23/2024 08:26:36 PM
- ICE First Look at Mortgage Performance: Delinquencies improved in July despite Hurricane Beryl’s impact on Houston homeowners • Business Wire • 08/22/2024 01:00:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM