Intercontinental Exchange adds IHS McCloskey Index as the cash settlement price for Indonesian coal
Published by Nicholas Woodroof,
Editor
World Coal,
IHS McCloskey has been publishing the 4200kc GAR index – also known as the M42 – since 2013. The index is recognised for accuracy in tracking spot market activity and has enjoyed increasing adoption as a benchmark for physical transactions in the most widely traded Indonesian coal grade.
The M42 is the only Indonesian index to have passed external assurance reviews to a “reasonable” standard against the International Organization of Securities Commissions (IOSCO) principles for PRA index provision.
“The M42 maximises hard trade data, which is one of the main tenets of the IOSCO principles”, said John Howland, Vice President, coal at IHS Markit. “This is why it tracks the spot market so quickly and accurately and has become an essential tool for risk management of Indonesian low calorific coal.”
“We are pleased to be working with IHS Markit on the launch of M42 (IHS McCloskey) Coal Futures. This new thermal coal contract will allow participants to manage their exposure to one of the world's largest thermal coal export markets,” said Gordon Bennett, Managing Director, Utility Markets, Intercontinental Exchange. “ICE brings price transparency across coal and the wider energy and environmental complex, allowing market participants, governments and other stakeholders across the globe to better assess the economic impact of navigating the energy transition.”
Read the article online at: https://www.worldcoal.com/coal/01032019/intercontinental-exchange-adds-ihs-mccloskey-index-as-the-cash-settlement-price-for-indonesian-coal/
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