ICE and Gasunie Announce Trading Exchange

Intercontinental Exchange (ICE) and Dutch natural gas infrastructure company Gasunie are jointly launching a European gas and power trading platform, the companies announced. ICE is a leading operator of global markets and clearing houses.

The ICE Endex will commence operations, following competition clearance by the Office of Fair Trading (OFT) in the UK, and a declaration of no-objection from the Dutch Ministry of Finance, according to a statement on Gasunie's website. The facility will be a "transparent platform for trading European natural gas and power," it said.

The launch of ICE Endex follows the separation earlier this year of energy exchange APX-ENDEX into a power spot and clearing entity, and a derivatives and spot gas group. ICE owns 79.12% of the venture, with Gasunie holding the remaining 20.88%.

"The launch of ICE Endex significantly strengthens our ability to serve participants in the continental European natural gas and power markets," said David Peniket, president and chief operating officer of ICE Futures Europe.

"We will bring our experience in the regulated North American and UK natural gas markets to establish and grow liquidity for natural gas hubs in continental Europe," he added.

ICE Endex, to be based in Amsterdam, will offer spot and derivatives products for trading natural gas, power, biomass futures, as well as natural gas storage facilities.

See also: ICE Takes Major Stake in APX-ENDEX