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ICE to Start Rival Gas Market in London to Sidestep EU Price Cap

From bnnbloomberg.ca

Intercontinental Exchange Inc. will open a parallel natural gas market in London to help traders avoid potential disruptions from new European Union rules to cap energy prices. The new market will offer benchmark Dutch Title Transfer Facility futures and options on the ICE Futures Europe exchange starting Feb. 20. That’s five days after the EU imposes a temporary price cap as one remedy for runaway energy costs. The ICE’s decision could lure trading away from the EU, damaging the bloc’s market. The London market won’t be subject to the cap. “Why would you like traders to take a political risk?” said Thierry Bros, a ... (full story)

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