With the physical clearing services successfully introduced on March 3, 2008, at PG&E Citygate and GTN Malin, Natural Gas Exchange’s (NGX) clearing organization will serve as the central counterparty for the physical delivery and financial performance.
Jeffrey Sprecher, chairman and CEO of IntercontinentalExchange (ICE), said: The launch of physical clearing for two of ICE’s western hubs earlier this month surpassed our initial expectations. We’re pleased to have seen strong double-digit growth in the liquidity of these first cleared physical contracts and strong demand from market participants for this service at the benchmark Henry Hub location.
