eSpeed, Inc. (NASDAQ: ESPD), a leading developer of electronic marketplaces and trading technology for the global capital markets, announced today that it will provide customers with a connection, via Ecco to ICE Futures, the leading electronic regulated futures and options exchange for global energy markets.
The connection will give customers who have access to eSpeed's Ecco Product Suite, an application which provides connection to the world's leading derivatives exchanges and eSpeed's electronic marketplaces, plus direct access to ICE Futures.
Users will also be able to benefit from other innovative tools such as the EccoSpreader to leverage energy derivatives trading opportunities around the world. eSpeed customers will, through this connection, gain access to the principal contracts traded on ICE Futures, namely the Brent global crude benchmark contract, Gas Oil, Natural Gas and WTI (West Texas Intermediate, the US benchmark crude oil). Order types such as calendar spreads, crack spreads, Settlements Market and Minute Markers will be supported.
David Hall, Global Head of Sales at eSpeed Futures in London said, "Increased awareness of the challenges facing the global energy markets is driving record volumes in energy derivatives, making the addition of ICE Futures an excellent value-added service to customers in our ongoing programme of exchange connectivity expansion."