ICE to Start Rival London Gas Market to Dodge EU Price Cap
- New market will help traders manage risk exposure, ICE says
- EU’s temporary gas price cap can be triggered starting Feb. 15
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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.