Ice to launch ASCI contracts
IntercontinentalExchange (Ice) has introduced more than 40 new over-the-counter cleared energy contracts for North American natural gas, power, natural gas liquids and global oil products, including two contracts based on the Argus Sour Crude Index (ASCI).
The new cleared oil contracts will include a differential calendar swap contract and a differential trade-month swap contract based on the ASCI and available from November 13.
Saudi Aramco, the national oil company of Saudi Arabia, announced on October 29 that it would use the ASCI as a benchmark for pricing transactions with US customers. It previously used WTI prices published by Platts
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