New York, NY and Atlanta, Georgia, October 29, 2007 -- Platts, a leading energy
and commodities information provider and a division of The McGraw-Hill Companies
(NYSE: MHP), and IntercontinentalExchange, Inc. (NYSE: ICE), a leading global
commodity exchange operator, have agreed to integrate market data generated
by trading in ICE's over-the-counter (OTC) markets into Platts forward
curve data products available to the North American natural gas and electricity
markets.
These forward-pricing data products will provide risk managers, planners, traders
and analysts with daily assessments of pricing in the forward markets.
"The Platts-ICE Forward Curve data products offer the industry a comprehensive
and independent view of forward pricing in the natural gas and power markets
in North America," said Platts President Victoria Chu Pao.
"By combining the data already collected by Platts editors with a rich
stream of additional transactional data provided by ICE, we now offer the industry
forward curve products with a depth and breadth unparalleled in the marketplace
today."
The enhancement of the natural gas and electricity forward curve products is
in response to rising industry demand for independent, market-based forward
curve price assessments based on the fullest range of market data available.
Platts, with nearly a century of experience reporting energy and price information,
has been producing forward curve price assessments in a variety of energy markets
since 2001. ICE, the leading electronic OTC energy marketplace, offers trading
and risk management in hundreds of products, resulting in a rich set of data
to augment the Platts data.
"Platts' reputation for quality and accuracy within energy markets
made them a natural choice to develop and deliver enhanced North American forward
curve products," said Jeffrey C. Sprecher, ICE chairman and chief executive
officer.
"As a neutral and liquid source of market information, we are able to
support the coverage of these innovative products. The Platts-ICE Forward Curves
will provide the marketplace with a complete and independent set of curves tailored
to meet the growing risk management needs of the trading community."
For more information on the products, visit www.risk.platts.com.
About IntercontinentalExchange
IntercontinentalExchange (NYSE: ICE) operates global commodity and financial
products marketplaces, including the world's leading electronic energy
markets and soft commodity exchange. ICE's diverse futures and over-the-counter
(OTC) markets offer contracts based on crude oil and refined products, natural
gas, power and emissions, as well as agricultural commodities including canola,
cocoa, coffee, cotton, ethanol, orange juice, wood pulp and sugar, in addition
to foreign currency and equity index futures and options. ICE conducts
its energy futures markets through ICE Futures Europesm, its London-based futures
exchange, which offers the world's leading oil benchmarks and trades nearly
half of the world's global crude futures in its markets. ICE conducts
its soft commodity, foreign exchange and equity index markets through its U.S.
futures exchange, ICE Futures U.S.sm, which provides global futures and options
markets, as well as clearing services through ICE Clear U.S.sm In August 2007,
ICE acquired the Winnipeg Commodity Exchange Inc., the leading agricultural
futures exchange in Canada. ICE's state-of-the-art electronic trading
platform brings market access and transparency to participants in more than
50 countries. ICE was added to the Russell 1000 Index in June 2006 and
the S&P 500 Index in September 2007. Headquartered in Atlanta, ICE also
has offices in Calgary, Chicago, Dublin, Houston, London, New York, Singapore
and Winnipeg. For more information, please visit www.theice.com.
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 such 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, 2006, and the Quarterly Reports
on Form 10-Q for the quarters ended March 31 and June 30, 2007, each as filed
with the SEC on February 26, 2007, May 4, 2007 and July 27, 2007, respectively.
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About Platts
Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 14 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, petrochemical, emissions, and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at www.mcgraw-hill.com.
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Kathleen Tanzy
Platts
+1 212-904-2860
kathleen_tanzy@platts.com |
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Platts
press room
Platts and IntercontinentalExchange announce comprehensive Forward Curve products
for North American natural gas and power markets
10/29/07
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