The Ice Exchange

[The Bear 10]

Anybody do any trading on THE ICE? This seems to be the hottest place on earth right now?

[wsam29 10]

They trade crude oil contracts right? To compete with NYMEX

 

Fairly new exchange, went public not too long ago.

 

Other than that, I don't know too much about this new Exchange.

[Soultrader 12]

Im not familiar with it. Where is this exchange located? And is ICE the abbreviation for it?

[The Bear 10]

Yeah they trade oil...as well as a number of other commodities. ICE was around since 1997 but it wasn't called ICE...they probably got some new marketing or something to invent the new name.

 

The exchange infrastructure is located in London UK I believe, but also in the US and maybe even other parts of europe. It's completely electronic, there's no trading floor.

 

This place is HOT right now, I suggest you dudes look into it and let me know what you find. Supposedly I read somewhere that 70% of US energy trading (OTC) is done on ICE. That's pretty massive volume. Their non-OTC contracts also have heavy volume. This is heavy duty stuff, and maybe the way of the future? Completely electronic exchange? No floor?

[sudha78 10]

ICE share price itself shows how hot it is!

[Guest cooter]

Look for ICE to take over or merge with one of the Chicago Exchanges sooner rather than later. With its HQ currently in Atlanta, it'll remain a second-tier player until it moves to Chicago or Wall Street.

[The Bear 10]

If you are talking about futures, ICE has been around for some time now, it's the old international petroleum exchange (England), and I wouldn't consider it a second tier player. It already does the bulk of US OTC trading, and does near equal volume as NYMEX. Considering how London is now considered by many as the financial center of the world now, ICE seems a perfect setup, away from the bulk of US regulations.....hence huge volume shifting to England.

 

Now is the time to strike while the irons hot.

[Guest cooter]

Combined CBOT and CME have 85% of futures business in the US; what percent does ICE control currently?

[The Bear 10]

ICE is mainly a petroleum & natural gas exchange. CME/CBOT is a different market, so those numbers don't apply to us oil speculators.

 

Really what we are talking about here is NYMEX vs ICE.

[The Bear 10]

And ultimately of course if ICE were to take over CBOT, it would be CBOT/ICE vs NYMEX competing.

[notouch 10]

ICE's main contract is Brent Crude Oil which is the world benchmark for crude oil and the most traded oil contract. EUREX is the world's biggest futures exchange.

[enochbenjamin 10]

EUREX is the world's biggest futures exchange.

 

This is no longer true. Chicago has reclaimed it's throne as the center of the futures world.

[BlowFish 10]

Presumably through the CME/CBOT merger?

[diablo272 10]

This isn't really relevant to where this thread is going right now, but is it pronounced "ice", as in "I am drinking ice water," or "I-C-E", which each of the letters pronounced individually?