ICE and NGX expand physical natural gas clearing
IntercontinentalExchange (ICE) and Calgary-based Natural Gas Exchange (NGX) are to provide deal entry capability to energy brokers for physically cleared OTC natural gas contracts.
Effective immediately, energy market participants who are ICE and NGX customers can select brokerage firms to enter physical transactions for clearing through NGX using the ICEBlock system.
“The ICEBlock system was designed to allow direct broker input and has proven to be an effective tool," says Chuck Vice, ICE president and COO. "We introduced our financial clearing solution for energy products in 2002, and NGX introduced physical clearing over a decade ago. In that time, customers have
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