IntercontinentalExchange today announced that it has entered into a purchase and leaseback agreement to acquire the natural gas indexes published by Intelligence Press Inc.

IPI will continue to collect and aggregate prices in the wholesale natural gas market and publish the indexes, and ICE will have the exclusive right to license the indexes for exchange settlement and clearing.

In addition to providing daily and monthly spot price discovery for the industry, NGI’s indexes are used by ICE and others for daily and monthly settlement and clearing, particularly in Midwest and California natural gas markets.

“We are pleased to work with NGI in acquiring the ownership and intellectual property rights for this valuable suite of indexes,” said David Goone, chief strategic officer for ICE, in a news release. “Together with the recently announced licensing of the leading Canadian index through our NGX alliance, we believe we are ensuring our ability to settle these important cleared contracts.”

“Under the agreement IPI will continue to have full responsibility for the price collection, aggregation and publication of the indexes,” said Ellen Beswick, IPI’s publisher and founder. “We have worked side-by-side with ICE, regulators and the industry to improve the price transparency process. We have developed a strong respect for the ICE operations and the ICE personnel with whom we have worked. This agreement puts us on the path to the future, working with an exceptional company.”