Oil Price Information Service (OPIS),
a leading provider of gasoline, diesel and LPG spot pricing information,
today announces the introduction of four new futures contracts at ICE
Futures Europe, subject to the completion of applicable regulatory
Starting December 14, 2015, ICE Futures Europe will list the following
contracts for trading. All four contracts will be cleared at ICE Clear
Diesel Diff – Group 3 ULSD (OPIS) vs Heating Oil 1st Line Future
Propane, OPIS Mt. Belvieu Other Non-TET Future
Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI)
Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index
“We are honored to be chosen by ICE as a pricing option in the oil and
natural gas liquids markets,” said Brian Crotty, OPIS President, in
announcing the selection.
The OPIS Group 3 numbers cited by ICE are made transparent on a daily
basis via the “OPIS Full-Day Refined Spots Report” but can also be
tracked through the trading day with the OPIS Spot Ticker, a real-time
interactive price display. This pricing option will be instrumental for
Midwest oil refiners, traders, wholesalers, and end-users who want to
buy, sell, trade or hedge based off OPIS Group 3 spot prices.
ICE’s addition of the new propane benchmarks into the international
arena recognizes the global reach of the OPIS Mont Belvieu benchmark and
its relevance to global markets both in Asia and in Europe.
“OPIS has long been the propane and NGL benchmark of choice in the
United States, and the availability of these contracts on ICE Futures
Europe now recognizes the importance of this benchmark to the
international propane market,” said Diane Miller, OPIS Global Director
In 2015 OPIS was recognized by the International Organization of
Securities Commissions (IOSCO) for its high standards of market price
reporting that include daily market price assessments that are “fair,
efficient, and transparent.”
“Through a series of individual audits testing OPIS’ price methodology,
approach to market coverage, communications with customers, and price
authentication process, OPIS has fully met the high standards set by
IOSCO,” said Robert Gough, Director of Content, OPIS.
OPIS, a division of UCG, is the world's most comprehensive source for
petroleum, LPG/NGL, jet fuel and biofuels pricing and news information
with offices in the U.S., Europe and Singapore and is one of the most
widely accepted U.S. fuel price benchmark for supply contracts and
competitive positioning. (www.opisnet.com)
Founded in 1977, UCG is one of America’s leading, privately held
providers of specialized business-to-business information. UCG’s
portfolio is composed of companies serving the information and software
needs of decision makers in health care, oil and energy, technology,
telecommunications, banking and finance, and the mortgage industry. The
company has received many awards for journalistic excellence and was
voted one of D.C.’s 50 Best Places to Work by Washingtonian Magazine.
About Intercontinental Exchange
Intercontinental Exchange (NYSE:ICE) operates the leading network of
regulated exchanges and clearing houses. ICE’s futures exchanges and
clearing houses serve global commodity and financial markets, providing
risk management and capital efficiency. The New York Stock Exchange is
the world leader in capital raising and equities trading.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual property
rights of Intercontinental Exchange, Inc. and/or its affiliates is
located at www.intercontinentalexchange.com/terms-of-use.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995 - Statements in this press release regarding ICE'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, 2014, as filed with the SEC on February 5, 2015.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151130005847/en/
Copyright Business Wire 2015