Hybrid voice/electronic brokerage trading platform for over-the-counter (OTC) energy markets HoustonStreet Exchange has introduced two physical price indices for US domestic crude oils. West Texas Intermediate delivered at Cushing, Oklahoma, and Light Louisiana Sweet Crude Oil delivered at St. James, Louisiana will be used as markers, effective October 26.
The indices will rely on the transparent trades transacted on the platform and will have real-time updates, making for a more transparent marketplace and stepping up the pace of risk management delivery. HoustonStreet Exchange presently offers CME ClearPort-cleared crude oil swaps in addition to physical crude oil in North America.
Click here for the release from Business Wire.
St. James Cushing Oklahoma North America US