Welcome!

News Feed Item

ICE and Gasunie Announce Launch of ICE Endex

- Launch of ICE Endex is a joint initiative between ICE and Gasunie, based on the spot gas and derivatives markets of former APX-ENDEX

LONDON, AMSTERDAM and GRONINGEN, The Netherlands, March 27, 2013 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, and Gasunie, a leading European gas infrastructure company, today announced the launch of ICE Endex, following receipt of competition clearance by the Office of Fair Trading (OFT) in the U.K. and the declaration of no-objection from the Dutch Ministry of Finance. The transaction completed on March 26, 2013.

The launch of ICE Endex follows the demerger of energy exchange APX-ENDEX into two separate entities: a power spot and clearing entity and a derivatives and spot gas entity, which took place on March 1, 2013. ICE Endex, of which ICE will own 79.12% and Gasunie 20.88%, is based on the derivatives and spot gas business of former APX-ENDEX.

ICE Endex will provide a liquid, transparent and widely accessible continental European trading hub for natural gas and power derivatives, gas balancing markets and gas storage services, including the Title Transfer Facility (TTF) Virtual Trading Point in the Netherlands, the UK On-the-Day Commodity Market (OCM) and the Belgian Zeebrugge Trading Point (ZTP).

The execution of ICE Endex derivatives products will migrate to ICE's widely accessible and state-of-the-art trading platform and trades will be cleared by ICE Clear Europe, ICE's European clearing house later in 2013 subject to regulatory approval. The ICE Endex natural gas and power derivatives contracts will trade and clear alongside ICE's portfolio of more than 800 global energy products further enhancing transparency and capital efficiency for market participants.

ICE Endex Holding B.V. is based in Amsterdam and one of its subsidiaries ENDEX Derivatives B.V. retains a licence to operate a regulated market in the Netherlands. The company is co-headed by Pieter Schuurs and Lucas Schmeddes, as President and Chief Operating Officer (COO), respectively. Schuurs and Schmeddes were formerly COO and CFO of APX-ENDEX. The following ICE and Gasunie representatives will be supervisory board directors of ICE Endex: David Peniket, President, ICE Futures Europe; Claire Wright, Head of Finance, ICE Futures Europe; Ulco Vermeulen, Director, Business Development and Participations, Gasunie. Jacques Lafond, the former President and CEO of Total Gas & Power Ltd has agreed to serve as one of two independent members of ICE Endex Holding B.V.'s supervisory board. The second independent member will be announced in due course.

"The launch of ICE Endex in conjunction with Gasunie significantly strengthens our ability to serve participants in the continental European natural gas and power markets. We will bring our experience in the regulated North American and U.K. natural gas markets to establish and grow liquidity for natural gas hubs in continental Europe," said David Peniket, President and COO of ICE Futures Europe.

"We regard our agreement with ICE as an important achievement, because it serves all stakeholders in this market. Gasunie and ICE share a commitment to further develop a liquid, transparent and secure gas market for customers in Europe and around the world. This is a positive development for traders, suppliers and consumers in the gas market," said Paul van Gelder, CEO of Gasunie.

"We are pleased to expand our business with the support of two strong partners. The structure of ICE Endex will allow us to fully leverage the unique strengths and expertise of both shareholders while maintaining our focus on the development of European energy markets and local customers," said Pieter Schuurs, President of ICE Endex.

About ICE Endex
ICE Endex is a continental European spot and derivatives market for trading natural gas and also offers trading for power and biomass futures products, as well as natural gas storage facilities. ICE Endex is a joint initiative between IntercontinentalExchange, a leading operator of global markets and clearing houses, and Gasunie, the Dutch based cross-border gas infrastructure company. The company was formed in 2013 when the two companies acquired the gas and derivatives business of the former APX-ENDEX.  ICE Endex is the home of trading around the Title Transfer Facility (TTF) Virtual Trading Point in the Netherlands, continental Europe's leading natural gas trading hub.

References to ICE Endex include the following entities: ICE Endex Holding B.V., ENDEX Gas B.V., ENDEX Derivatives B.V., and ENDEX Gas Spot Ltd.

About IntercontinentalExchange
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated exchanges and clearing houses serving the risk management needs of global markets for agricultural, credit, currency, emissions, energy and equity index products. www.theice.com. The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE Futures Europe, ICE Clear Europe, ICE Clear Canada, ICE Clear US, ICE Clear Credit, ICE Futures U.S., and ICE OTC. All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml

About Gasunie
Gasunie (N.V. Nederlandse Gasunie) is a European gas infrastructure company. Gasunie's network ranks among the largest high pressure gas pipeline grids in Europe, consisting of over 15,000 kilometers of pipeline in the Netherlands and northern Germany, dozens of installations and approximately 1,300 gas receiving stations. The annual gas throughput totals approximately 125 billion cubic meters. Gasunie offers transport services via its subsidiaries Gasunie Transport Services B.V. (GTS) in the Netherlands and Gasunie Deutschland in Germany. With its cross-border gas infrastructure and its services Gasunie facilitates TTF, which has developed into a leading and strongly growing European gas trading hub. The company also offers other services in the gas infrastructure field, including gas storage and LNG.

Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2012, as filed with the SEC on February 6, 2013.

ICE-CORP

ICE-ENGY

(Logo: http://photos.prnewswire.com/prnh/20090727/CL51999LOGO )

SOURCE IntercontinentalExchange

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, discussed the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filterin...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Early adopters of IoT viewed it mainly as a different term for machine-to-machine connectivity or M2M. This is understandable since a prerequisite for any IoT solution is the ability to collect and aggregate device data, which is most often presented in a dashboard. The problem is that viewing data in a dashboard requires a human to interpret the results and take manual action, which doesn’t scale to the needs of IoT.
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.
"C2M is our digital transformation and IoT platform. We've had C2M on the market for almost three years now and it has a comprehensive set of functionalities that it brings to the market," explained Mahesh Ramu, Vice President, IoT Strategy and Operations at Plasma, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Traditional IT, great for stable systems of record, is struggling to cope with newer, agile systems of engagement requirements coming straight from the business. In his session at 18th Cloud Expo, William Morrish, General Manager of Product Sales at Interoute, outlined ways of exploiting new architectures to enable both systems and building them to support your existing platforms, with an eye for the future. Technologies such as Docker and the hyper-convergence of computing, networking and sto...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...