This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ICE Clear Europe Announces First LNG Cleared Swap On The Japan Korea Marker

LONDON, Sept. 10, 2012 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter markets, today announced that ICE Clear Europe cleared its first Liquefied Natural Gas (LNG) Cleared Swap on the Platts*Japan Korea Marker (JKM).

(Logo: )

The first cleared JKM LNG transaction of 20 lots represented 200,000 Million British Thermal Units and was submitted to ICE Clear Europe on September 7, 2012. Tullett Prebon Europe Limited was the broker to the transaction. Two oil and gas majors were the counterparties to the trade. ICE Clear Europe introduced the JKM LNG cleared swap on September 4, 2012.

"We are delighted to have brokered the first cleared JKM swap at ICE Clear Europe. It is the desired outcome and follows two years developing the cleared LNG swap market with industry participants. The introduction of cleared JKM LNG swaps at ICE Clear Europe has boosted liquidity and we look forward to further promoting the benefits of central counterparty clearing to this market. Tullett Prebon LNG has brokered numerous short- and medium-term cargoes and re-gasification capacity since the desk was established late 2007 and the financial brokerage business is a natural extension of its presence in the physical LNG market," said Melissa Lindsay, Global Head of LNG, Tullett Prebon Europe Limited.  

"ICE is pleased that Tullett Prebon has brokered the first cleared JKM LNG swap at ICE Clear Europe. The introduction of the ICE Japan Korea Marker LNG swap has further enhanced ICE's broad range of OTC energy products. With over 96% of ICE's OTC energy volume now cleared, ICE has demonstrated that standardisation and liquidity are continuing to support the increased use of clearing," said David Peniket, President & COO, ICE Futures Europe.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs