ICE Broadens Ties With Platts; Will Distribute Platts' Real-Time Content to Become Integrated Information and Trading Platform

Published on Wednesday, 07 December 2011 09:26 Written by TradersHuddle Staff

NEW YORK, Dec. 7, 2011 /PRNewswire/ -- Platts, a leading energy, petrochemicals and metals information provider, and IntercontinentalExchange (NYSE: ICE), a leading operator of regulated futures exchanges, clearinghouses and over-the-counter markets, 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.  

Platts has licensing, distribution and other agreements with a number of exchanges, third-party distributors and other entities worldwide.

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets.  Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency.  Customers in more than 150 countries benefit from Platts' coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets.  A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.

About The McGraw-Hill Companies:  McGraw-Hill is a leading global financial information and education company that helps professionals and students succeed in the Knowledge Economy.  Leading brands include Standard & Poor's, S&P Capital IQ, S&P Indices, Platts energy information services and McGraw-Hill Education.  With sales of $6.2 billion in 2010, the Corporation has approximately 21,000 employees across more than 280 offices in 40 countries.  On September 12, 2011, the Corporation announced its intention to separate into two public companies – McGraw-Hill Markets (working name), primarily focused on global capital and commodities markets and McGraw-Hill Education focused on digital learning and education services worldwide.  Additional information is available at http://www.mcgraw-hill.com/.

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SOURCE Platts