ICAP ready for the transition of energy swaps to futures

Louisville, KY, and Jersey City, NJ, October 12, 2012 -- ICAP Energy LLC and ICAP Corporates LLC (collectively “ICAP”), the award-winning energy swaps and futures brokers, are fully registered, licensed and prepared to broker energy products as futures or swaps. Effective at the close of business today, the IntercontinentalExchange (“ICE”) is converting its energy swaps contracts into regulated futures contracts.  Additionally, the CME Group’s Clearport energy contracts will be available for trading as swaps or futures.    

All of the aforementioned energy products can still be brokered off-exchange as OTC swaps and converted to futures through the exchange of futures for related positions (“EFRP’) mechanism.  This is the same process the industry has followed for CME Clearport energy contracts since 2002.  

As a registered Introducing Broker, ICAP can execute futures and listed options on ICE US, ICE Europe, NYMEX, CME, CBOT, COMEX, LIFFE, MONEP and others.  With more than 130 licensed NFA Series 3 professionals, ICAP teams are prepared to provide the best execution regardless of venue (i.e. traditional voice/hybrid for swaps, EFRP, blocked futures, direct screen execution, and exchange floor).  ICAP is a leading brokerage house for block-sized futures in crude and refined products, and has executed block futures trades in these products for over a decade.

“Our brokers are focused on specific energy products, such as crude oil, natural gas, electricity, coal and a variety of other products.  This product expertise and deep pools of liquidity set ICAP apart from the traditional futures broker.  We are prepared to broker these products as swaps or futures, depending on the needs of our customers,” said Dennis Crum, Chief Executive Officer ICAP Energy LLC.

Todd Creek, Co-President of ICAP Corporates LLC and ICAP Energy LLC said, “We have brokered exchange-traded crude oil, refined products, softs and agricultural futures for many years and have deep pools of liquidity in block size futures.  Our knowledge and experience have prepared us for the expanding regulated environment to include all energy products.”


Brittany Warren ICAP Energy +1 502 238 8062
Guy Taylor ICAP +1 212 341 9759

About ICAP Corporates
ICAP Corporates LLC, a division of ICAP plc, is a leader in commodities brokerage providing execution services in over-the-counter and exchange-traded instruments to a broad spectrum of clients throughout the world.  The group has approximately 250 staff located in North America and Europe.  ICAP offers product specific price discovery and execution services in crude oil and oil products, electricity, natural gas, coal, agriculture commodities including softs, emission credits, weather derivative and physical crude and refined products.  ICAP Energy was awarded the 2012 Energy Risk Overall Broker of the Year award.  For more information, please go to www.icapenergy.com.

About ICAP
ICAP is the world’s leading interdealer broker and provider of post trade risk and information services.  The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks.  Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios.  For more information, please go to www.icap.com.

There is risk of loss in futures and options trading.  The information contained in this publication is taken from sources believed to be reliable, but is not guaranteed by ICAP as to accuracy or completeness, and is intended for purposes of information and education only.  Nothing in this publication should be considered as a trading recommendation by ICAP.  http://www.icap.com/FuturesDisclaimer