NEW YORK, Aug. 28, 2012 /PRNewswire/ -- Platts physical energy price assessments for liquefied natural gas (LNG) and petroleum products have been selected as the basis for nine new cleared over-the-counter (OTC) swaps* contracts launched today by the IntercontinentalExchange (ICE), an operator of OTC markets and futures exchanges. Platts is a leading global energy, petrochemicals and metals information provider.

Today's contract launch by ICE, which includes a Japan Korea Marker LNG Swap contract based on the Platts Japan/Korea Marker (JKM), brings the number of ICE energy contracts that are settled and cleared on the basis of Platts' physical price assessments to a total of 158.

"We're particularly pleased that exchanges and clearing houses recognize the value of the Platts LNG benchmark and have chosen it for settling and clearing new swaps contracts," said Gerald Bueshel, Platts director of global licensing. "The broadening market use of Platts' LNG Japan Korea Marker since its launch in 2009 is a clear indication of how rapidly LNG price risk management is evolving."

For full details of ICE's new Platts-based energy contracts visit this link: http://ir.theice.com/releasedetail.cfm?ReleaseID=697261.

Earlier this month, CME Group (CME) launched a liquefied natural gas (LNG) swap futures contract that is also based on the Platts JKM. For more information on that contract visit this link: http://www.cmegroup.com/rulebook/NYMEX/8/868.pdf.

Platts physical price assessments and benchmark references are used under license by futures exchanges and clearing houses and appear in such publications as: Platts LNG Daily, Platts European Marketscan, and Platts Asia-Pacific/Arab Gulf Marketscan, among others. The Platts price assessment processes are underpinned by robust, clearly defined methodologies and specifications.

In addition to the above mentioned physical market price assessments, Platts provides supply/demand fundamentals, news and other information across the full spectrum of energy and metals commodities. Since 1909, Platts' news and price references have brought greater transparency and efficiency to the physical energy markets.

For more information on LNG and on other physical energy, petrochemicals and metals markets, visit the Platts website at www.platts.com.

Platts does not sponsor, endorse, promote or sell futures contracts.

* A commodity swap is a financial product that is used by participants in physical commodity markets to reduce or hedge exposure to adverse commodity price movements over periods of time.

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets. A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.

About The McGraw-Hill Companies: McGraw-Hill announced on September 12, 2011, its intention to separate into two companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

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Kathleen Tanzy
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SOURCE Platts

SOURCE: Platts