Intercontinental Exchange and Magellan Midstream Partners Announce Launch of Dock Capacity Auction at Multiple Marine Facilities in Houston for the ICE Permian WTI Futures Contract
Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: Business Wire
ATLANTA & NEW YORK & TULSA, Okla.--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, and Magellan Midstream Partners, L.P. (NYSE: MMP) announced the addition of dock capacity auctions for ICE Permian WTI crude oil futures contracts (HOU) at Magellan’s terminals in Galena Park and Seabrook.This new monthly auction process will allow customers who purchase an ICE Permian WTI crude futures contract, deliverable at Magellan’s East Houston terminal (MEH), the optionality to load that product directly onto a vessel at Galena Park and Seabrook dock facilities.Magellan plans to auction dock capacity rights to the Seabrook and Galena Park terminals through ICE’s WebICE platform. The initial auction is scheduled to be held on September 10, 2019 for physical delivery in November. Capacity offered will be adequate to fill Panamax and Aframax size vessels, with Suezmax size vessel
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