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The International Petroleum Exchange, based in London, is one of the world's largest energy futures and options exchanges. Its flagship commodity, Brent Crude is a world benchmark for oil prices, but the exchange also handles futures contracts and options on gas oil, natural gas, electricity (baseload and peakload), coal contracts and, as of 22 April 2005, carbon emission allowances with the European Climate Exchange (ECX). This article is about the capital of England and the United Kingdom. ...
The introduction to this article provides insufficient context for those unfamiliar with the subject matter. ...
Brent Crude is one of the major classifications of oil consisting of Brent Crude, Brent Sweet Light Crude, Oseberg and Forties. ...
In finance, a futures contract is a standardized contract, traded on a futures exchange, to buy or sell a certain underlying instrument at a certain date in the future, at a specified price. ...
In finance options are types of derivative contracts, including call options and put options, where the future payoffs to the buyer and seller of the contract are determined by the price of another security, such as a common stock. ...
Kerosene, gas oil, paraffin (not the waxy solid of that name) is a colorless flammable hydrocarbon liquid. ...
This article is about the fossil fuel. ...
Electricity (from New Latin Ä“lectricus, amberlike) is a general term for a variety of phenomena resulting from the presence and flow of electric charge. ...
is the 112th day of the year (113th in leap years) in the Gregorian calendar. ...
Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ...
The European Climate Exchange is a sister company of the Chicago Climate Exchange that manages sales and marketing of environmental instruments in Europe. ...
The IPE was acquired by the IntercontinentalExchange in 2001. The IPE was an open outcry exchange until April 7, 2005, when its name was changed to ICE Futures and all trading was shifted onto an electronic trading platform. IntercontinentalExchange® (NYSE: ICE) operates the leading global, electronic marketplace for trading both futures and OTC energy contracts. ...
Open outcry occurs on a commodities exchange when traders shout their buy and sell orders. ...
April 7 is the 97th day of the year in the Gregorian calendar (98th in leap years). ...
Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ...
History
Until the 1970s, the price of oil was relatively stable with production largely controlled by the biggest oil companies. The 1970s transformed the industry forever. Two oil price shocks meant that price volatility became a fundamental feature of the market, short-term physical markets rapidly evolved, and the need to hedge emerged. The 1970s decade refers to the years from 1970 to 1979, also called The Seventies. ...
A group of energy and futures companies founded the IPE in 1980 and the first contract, for Gas Oil futures, was launched the following year. In June 1988, the IPE successfully launched Brent Crude futures. Volumes rapidly took off and the Exchange has experienced incremental growth, year-on-year for almost its entire history. New trading instruments such as swaps, futures and options have grown up. The modern business, though complex, is efficient, flexible and fast moving. Year 1980 (MCMLXXX) was a leap year starting on Tuesday (link displays the 1980 Gregorian calendar). ...
For other uses, see June (disambiguation). ...
Year 1988 (MCMLXXXVIII) was a leap year starting on Friday (link displays 1988 Gregorian calendar). ...
Brent is an English place name and surname. ...
Since its inception Oil futures and latterly options have been traded in pits on the market floor using the open outcry system. As business volumes have grown the IPE has moved location several times to accommodate new pits and increasing number of traders.
Contracts Since 1997 the ICE Futures has expanded its offerings from Brent Crude and Gas Oil to include Natural Gas (1997), Electricity (2004), and ECX carbon financial instruments (2005). These expansions have meant that the ICE Futures can now offer a full spectrum of energy products. More advanced transactions are also now possible, due to cross and multi-product transactions, which eliminate the need to use multiple markets or an adviser. For the band, see 1997 (band). ...
Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...
External links - ICE Futures
- BBC: Open outcry trading to end on IPE [1]
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