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Screenshot of a breaking news alert e-mail from Q2 2017
Intercontinental Exchange Inc (NYSE:ICE) has today announced that ICE Endex has transitioned the UK’s On-the-Day Commodity Market (“OCM”) to the ICE trading platform on April 1, 2015. Designated by OFGEM and appointed by National Grid Gas, ICE Endex is the market operator of the OCM.
Following the transition of the OCM balancing and spot markets, all ICE Endex markets, including derivatives, continental balancing and spot, are available on WebICE, ICE’s front-end trading screen. All National Balancing Point (NBP) products offered by ICE Futures Europe and ICE Endex are listed on the ICE platform.
Pieter Schuurs, President, ICE Endex said: “We would like to thank National Grid and our market users for their hard work and support in ensuring the smooth transition of the OCM to the ICE trading platform. This transition is an important achievement for us, because all ICE Endex markets are now available on ICE’s state-of-the-art WebICE trading platform. By leveraging ICE’s innovative trading technology and our natural gas expertise, ICE Endex is committed to delivering balancing and spot services that continue to meet the sophisticated requirements of the markets we serve in the UK and continental Europe.”
The ICE Endex OCM Indices (System Average Price, System Marginal Buy and Sell Prices) are used by National Grid Gas in the UK as the official price for the settlement of imbalances. Market enhancements on WebICE include the real time publication of these indices, which will support the trading experience of market users.
Including the OCM transition yesterday, ICE Endex successfully transferred all of its markets to the ICE trading platform in three tranches. The derivatives markets, which includes the flagship TTF and ZTP futures contracts, were transitioned first in October 2013 and the continental spot and balancing markets were migrated to the ICE trading platform in April 2014.
The OCM, TTF and ZTP spot and balancing markets were previously hosted on the APX trading platform. All markets will continue to be cleared by APX Clearing and this service is expected to be migrated to ICE Clear Europe during 2015.
For the official announcement from ICE, click here.