Intercontinental Exchange operator of global exchanges and clearing houses acquired the remaining stake in ICE Endex from Dutch gas infrastructure company and a shareholder in the Gate LNG terminal in Rotterdam, Gasunie.
In addition, ICE and Gasunie have signed a memorandum of understanding which sets out the basis for further cooperation between the two parties in relation to the operation of the Dutch gas and power markets following ICE’s acquisition of the Gasunie shares.
“Our acquisition of the remaining shares in ICE Endex along with further cooperation with Gasunie will allow us to further develop these markets and to serve the needs of our European gas and power customers,” said David Peniket, president and COO, ICE Futures Europe.
Ulco Vermeulen, member of the executive board and director participations and business development of Gasunie, said, “three years ago Gasunie decided to join forces with ICE for a period of time to develop a highly liquid, secure and efficient continental European platform for trading gas and power.”
The Dutch Transfer Title Facility (TTF) is a virtual trading point for natural gas in the Netherlands, set up by Gasunie in 2003. Since that time it has become a continental European benchmark and trading hub for spot, forward and futures gas trades.