MSNBC – The IntercontinentalExchange on Wednesday announced plans to launch its first coal futures in a move that highlights rising global demand and the growing importance of banks and hedge fundsin the energy market.
The all-electronic exchange already lists utility-based contracts, including those based on UK natural gas and pan-European emissions, through its ICE Futures unit in London.
It aims to tap into the appetite for risk-management and speculative trading tools from producers and end users such as utilities and steel companies, which rely primarily on an expanding arrayof over the counter products.
“Coal is the next step to complete the offering to the utilities’ market,” said Fredrik Voss, head of market development at ICE Futures.
