IntercontinentalExchange, the Atlanta-based electronic energy trading exchange, is planning weekend trading to allow market players to continue trading as Hurricane Rita makes landfall in the U.S.
The exchange says that IPE Brent and Gas Oil futures and options will start trading at 19:15 ET on Saturday. These futures markets will be available continuously through 17:00 ET Monday, September 26.
Trading hours in the ICE’s over-the-counter markets will be continuous through the weekend, with the first maintenance window occurring at 18:30 ET Monday.
Earlier this month the ICE announced plans to extend trading hours in its electronic marketplace beginning October 2. The ICE’s futures market, the International Petroleum Exchange, will extend market hours by opening earlier each trading day and closing later on Fridays.
Beginning Sunday, October 2, IPE’s Brent and Gas Oil futures and options markets will open one hour earlier at 20:00 ET and 01:00 BST/GMT, Sunday through Friday. As a result, these markets will be available for trading 21 hours daily. On Fridays, market hours will be extended by one and a half hours, with a new closing time of 17:00 ET and 22:00 BST/GMT.
The ICE’s OTC natural gas, power and oil markets will remain open for trading throughout each weekend and most holidays. The Sunday evening maintenance window will occur one hour earlier to allow Sunday trading to resume at 19:00 ET and at midnight in the UK, rather than the current 20:00 PM ET.
“In response to continued demand for real-time risk management in the global energy markets, we are pleased to make the energy marketplace more accessible than ever,” said Chuck Vice, ICE’s chief operating officer.
ICE is based in Atlanta, with offices in Calgary, Chicago, Houston, London, New York and Singapore.
ICE energy exchange to allow weekend trading
Gas and oil futures to trade as Rita makes landfall
- By: James Langton
- September 23, 2005 September 23, 2005
- 12:30