NEW YORK, NEW YORK, U.S. — Platts and IntercontinentalExchange (ICE), announced on Dec. 7 that they are combining capabilities to provide the market with an integrated solution for commodities information and trading, with ICE becoming a distributor of Platts’ electronic products and services.
“We welcome the opportunity to bring greater transparency and efficiency to the energy marketplace,” said Platts President Larry Neal. “Providing easy access to Platts’ real-time information services through ICE’s global energy platform is a logical next step and we look forward to further collaboration.”
Beginning in the second quarter of 2012, some 20,000 ICE participants may subscribe to receive direct access to Platts’ electronic information services, such as Platts Global Alert, through WebICE, ICE's proprietary frontend trading system, and via ICE mobile, the mobile version of WebICE.
“In a business where information and speed are critical, we’re excited to bring our participants the extensive energy content and benchmark price offerings from a well- established leader in the energy information business in a convenient, seamless solution,” said David Goone, ICE’s chief strategic officer.
This new agreement expands the relationship between Platts and ICE. Existing agreements include licenses to ICE to use Platts’ proprietary market price data in the settlement and clearing of ICE contracts; use of ICE data by Platts in its forward curves products and services; and use by Platts of ICE-developed technology that is customized to facilitate the Platts Market-On-Close price assessment process through Platts eWindow.