LNG

Intercontinental Exchange, the leading global provider of trading platforms for the whole energy complex from crude oil to LNG cargoes and European and Asian natural gas futures and options, has refined its contract for key US Gulf Coast oil futures.

Intercontinental Exchange, a leading global provider of energy trading platforms for futures and options and which is in the process of launching new LNG futures for Europe, reported strong third-quarter earnings.

Abu Dhabi National Oil Company (ADNOC), the oldest LNG producer in the Middle East, has marked the first anniversary since the launch of ICE Futures Abu Dhabi (IFAD) platform and ICE Murban Crude Oil futures in a time when the price of oil has doubled and just fallen back slightly.

Intercontinental Exchange, the leading global provider of trading platforms and clearing, has posted record October activity in the main LNG and natural gas trading derivative, the Dutch Title Transfer Facility (TTF), the European benchmark.

Intercontinental Exchange Inc., the US-based operator of regulated trading platforms for commodity and financial markets, reported multiple records in oil and natural gas futures trading as well as in its corporate earnings, giving it the “strongest quarter in the company’s history.”

ICE reported record revenues as daily volumes trading in energy futures and options surged during March in contracts such as the US benchmark West Texas Intermediate crude oil, North Sea Brent and natural gas.

The Atlanta, Georgia-based company recorded multiple records across the crude oil, natural gas and fuel product futures markets.

These derivatives are purchased and sold by parties such traders, oil and gas companies and utilities as hedges against rises and falls in physical resource prices.

Platform operator ICE reported that there were record futures and options trading across all types of financial derivatives.

Futures and options trading in the first quarter was up 45 percent year-on-year, driven by record volumes across all asset classes with average daily volume (ADV) records broken and energy trading up 54 percent, agri and metals up 31 percent and interest-rates instruments 28 percent higher.

The high volumes continued into April with energy open interest (OI) contracts still 23 percent higher versus 2019, including Brent crude up 27 percent, natural gas up 28 percent and other crude and refined products up 33 percent.

Despite the turmoil, ICE said that the New York Stock Exchange listed 15 initial public offerings during the first quarter, helping its customers raise over $7 billion in IPO proceeds.

For the quarter ended March 31, ICE said its consolidated net income was $650 million on $1.6 billion of revenues, less transaction-based expenses.

The revenues were 23 percent higher than in the first quarter of 2019.

“Amidst these highly uncertain times, we are grateful for both our customers’ business and their trust,” said Jeffrey C. Sprecher, ICE Chairman and Chief Executive.

“The dedication of our employees and our focus on leading technology is what provides the foundation for our global markets to operate smoothly in times of stress,” added the CEO.

“This combination enabled us to generate the strongest quarter in our company’s history, reporting record revenues and double-digit earnings per share growth,” explained Sprecher.

“As we look to the balance of the year, our focus remains on the safety of our employees, while also continuing to ensure that our markets, clearinghouses and related data services perform to the highest possible standards,” stated Specher.

Scott A. Hill, ICE Chief Financial Officer, said that in the first quarter the company recorded mutiple records, which enabled the firm to return over $850 to stockholders through its dividend and stock buyback program.

ICE’s data and listings revenues in the quarter were $676M and trading and clearing net revenues were $883M.

“This performance also enabled us to continue to invest in our business, ensuring we can continue to provide our customers with critical risk management tools while also creating value for our stockholders,” stated Hill.

Global commodities exchange operator CME Group said it would launch a futures contract for liquefied natural gas linked to physically delivered volumes from the Sabine Pass export plant of Cheniere Energy.

The Singapore Exchange (SGX) and Energy Market Company (EMC) are to discontinue the publication of the prices and indices for spot LNG cargoes for Southeast Asia, North Asia and Dubai, Kuwait and India.

June 21 (LNGJ) - The Intercontinental Exchange (ICE), the leading operator of commodities, futures and share trading platforms, has launched a physical trading product to reflect the change at the Dominion Energy Cove Point LNG facility in Maryland from an import terminal to an export plant. The new Dominion Energy Cove Point product reflects the physical market for natural gas deliveries into the plant for liquefaction and export. The previous Cove Point market, which had been set up for receiving natural gas from LNG imports, was delisted simultaneously by the ICE. The new Cove Point price was last at $3.110 per million British thermal units.

May 1 (LNGJ) - Intercontinental Exchange Inc., the US-based leading operator of global exchanges, clearing houses and pricing data for commodities and energy resources such as natural gas, said that ICE Benchmark Administration Limited (IBA) has been authorised as a regulated benchmark administrator under the European Union Benchmarks Regulation (BMR). Authorisation had been previously granted by the UK Financial Conduct Authority. “We are pleased that IBA has received EU regulated benchmark administrator status” said Tim Bowler, President of IBA. “IBA was founded to reform and bring transparency to global benchmarks. We aim to adopt the highest standards for the benchmarks that we administer,” added Bowler. IBA is one of the world’s most experienced administrators for regulated benchmarks. A subsidiary of Intercontinental Exchange, IBA was founded in 2014 and administers an array of important benchmarks, including bank interest rates.

Oct 23 (LNGJ) - Intercontinental Exchange (ICE), the leading operator of global exchanges and clearing houses and provider of data and listings services, said it completed its acquisition of the Bank of America Merrill Lynch Global Research division’s fixed-income index platform, which will become part of ICE Data Services. Terms of the agreement were not disclosed. “We’re excited to expand the breadth and scale of our index offering to give customers increased choice of third-party benchmark solutions,” said Lynn Martin, President and Chief Operating office of ICE Data Services. “With the addition of these indices, we are able to offer a comprehensive portfolio that includes the addition of more than 5,000 global fixed income, currency and commodity indices,” added Martin.