The IntercontinentalExchange (ICE) and the Natural Gas Exchange’s (NGX) owner, TMX, have expanded their alliance to physical crude. The exchanges will add Canadian and U.S. physical and Canadian financial crude oil products to their existing clearing and technology alliance in the first quarter of 2011. NGX’s Canadian physical crude products will be offered for trading through ICE’s electronic trading platform, as per the deal. NGX, which currently provides physical clearing services for ICE’s U.S. physical natural gas markets, will offer clearing services for the new physical crude contracts that will be traded on ICE, which currently provides trading technology to NGX for Canadian natural gas and power markets.
Click here for the release from PR Newswire.