Clearing LO options on ICE

Discussion in 'Energy Futures' started by exiguous, Aug 9, 2010.

  1. exiguous


    I heard its possible to clear nymex LO options on ICE (instead of thru Clearport).

    Does anybody do this? How does it work? What are the fees?

    I can't find any information on ICE's website about it at all.

  2. heech


    That can't be right. How would ICE clear a NYMEX contract?

    Did you misunderstand? ICE Europe offers a number of contracts which are very similar to NYMEX CL.
  3. rose


    Isn't LO the nymex code for brent? CL can be cleared on ice, not fungible, but priced off nymex really, if its CL why bother? if brent, why are you using clearport?
  4. Ex-CIS


    On ICE its called WTI. Its basically the cash-settled equivalent of NYMEX CL. It is not a physically settled contract like ICE Brent or NYMEX CL.

    Most options are traded as blocks. There isnt much option liquidity on the sceens
  5. bone

    bone ET Sponsor

    I always used ICAP in Chapel Hill for OTC electricity options, I used Prebone Yamane in NJ and Amerex in Houston for LN Nat Gas Options.

    Call ICAP's Houston Desk, if they can't get it you don't need it. I have pasted some corporate propaganda from their US website below. Tell them you want the ICE financial products cleared through LCH.

    Polite word to the wise: If you are not presenting a certain level of financial bona fides, they will not show you a market because they are in turn protecting their existing clientele. Alot of these markets are shown over IM (seriously) or direct phone line. The broker then submits the deal to ICE-LCH or Clearport for clearing where it posts.


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