RELEASE Number
5814-10

April 28, 2010

CFTC Determines that Seven Contracts Traded on the IntercontinentalExchange Inc are Significant Price Discovery Contracts

Contracts are Subject to Commission Oversight, Emergency Authority and Large Trader Reporting Requirements

Washington, DC – The Commodity Futures Trading Commission (CFTC) today determined, by a 5-0 vote, that seven contracts traded on the IntercontinentalExchange Inc (ICE) perform significant price discovery functions. As such, the contracts must be traded in compliance with applicable core principles and statutory provisions. The Commission considered a total of 24 contracts traded on three Exempt Commercial Markets (ECMs): ICE, the Natural Gas Exchange, Inc (NGX) and the Chicago Climate Exchange, Inc (CCX). The Commission determined that the other 17 contracts it reviewed were not SPDCs.

ECMs are exempt from the provisions of the Commodity Exchange Act, other than the anti-fraud and anti-manipulation provisions. However, Congress provided a regulatory regime for contracts traded on ECMs that the Commission determines to be significant price discovery contracts (SPDCs) comparable to that provided for futures contracts traded on designated contract markets.

Contracts the Commission determined to be SPDCs include:

1.

ICE HSC Financial Basis Contract

2.

ICE Waha Financial Basis Contract

3.

ICE AECO Financial Basis Contract

4.

ICE NWP Rockies Financial Basis Contract

5.

ICE Socal Border Financial Basis Contract

6.

ICE PG&E Financial Basis Contract and

7.

ICE Chicago Financial Basis Contract

Contracts the Commission determined not to be SPDCs include:

1.

ICE San Juan Financial Basis Contract

2.

ICE Malin Financial Basis Contract

3.

ICE Dominion-South Financial Basis Contract

4.

ICE Henry Financial Basis Contract

5.

ICE Henry Financial Index Contract

6.

ICE Henry Financial Swing Contract

7.

ICE Permian Financial Basis Contract

8.

ICE TCO Financial Basis Contract

9.

ICE Zone 6-NY Financial Basis Contract

10.

ICE TETCO-M3 Financial Basis Contract

11.

ICE NGPL TxOk Financial Basis Contract

12.

NGX AECO Basis Contract

13.

NGX Union-Dawn Basis Contract

14.

NGX AECO Fixed-Price Contract

15.

NGX Union-Dawn Fixed-Price Contract

16.

NGX 7a Index Contract and

17.

CCX Carbon Financial Instrument

Media Contacts
Scott Schneider
202-418-5174

R. David Gary
202-418-5085

Last Updated: April 28, 2010