|By PR Newswire||
|March 27, 2013 03:00 AM EDT||
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.
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
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.
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
Jul. 2, 2015 08:45 AM EDT Reads: 1,970
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world...
Jul. 2, 2015 08:00 AM EDT Reads: 2,272
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Jul. 2, 2015 08:00 AM EDT Reads: 2,090
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
Jul. 2, 2015 08:00 AM EDT Reads: 2,036
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect t...
Jul. 2, 2015 08:00 AM EDT Reads: 1,220
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
Jul. 2, 2015 08:00 AM EDT Reads: 1,117
"AgilData is the next generation of dbShards. It just adds a whole bunch more functionality to improve the developer experience," noted Dan Lynn, CEO of AgilData, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 2, 2015 07:45 AM EDT Reads: 729
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Jul. 2, 2015 07:45 AM EDT Reads: 2,567
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at DevOps Summit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
Jul. 2, 2015 07:30 AM EDT Reads: 1,067
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare...
Jul. 2, 2015 07:30 AM EDT Reads: 867
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of...
Jul. 1, 2015 05:00 PM EDT Reads: 2,237
"We have a tagline - "Power in the API Economy." What that means is everything that is built in applications and connected applications is done through APIs," explained Roberto Medrano, Executive Vice President at Akana, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 1, 2015 05:00 PM EDT Reads: 928
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
Jul. 1, 2015 03:30 PM EDT Reads: 1,095
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Jul. 1, 2015 02:21 PM EDT Reads: 707
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
Jul. 1, 2015 01:15 PM EDT Reads: 2,190