HOUSTON--(BUSINESS WIRE)--HoustonStreet Exchange, Inc. (“HoustonStreet”) the leading hybrid voice/electronic brokerage trading platform for OTC energy markets, announced today the launch of two physical price indices for US domestic crude oils. Effective October 26th, the crude oils to be indexed are West Texas Intermediate delivered at Cushing, Oklahoma, and Light Louisiana Sweet Crude Oil delivered at St. James, Louisiana.
HoustonStreet Exchange, which can be used with or without broker assistance, offers a suite of products for physical and financial crude oil. HoustonStreet will continue to offer its aggressive commission schedule for liquidity providing customers. The indices will be updated in real time and will be based on the transparent trades transacted on the platform.
“Our clients have asked us for a transparent, real time index of physical sweet crude oil," said Frank Getman, President of HoustonStreet Exchange, the largest domestic electronic marketplace for physical crude oil. "We believe that these products set a precedent for higher transparency in the marketplace and faster delivery of risk management."
In addition to physical crude oil in North America, the HoustonStreet Exchange also currently offers CME ClearPort® cleared crude oil swaps. All of these markets trade on the HoustonStreet Exchange and instantaneously clear through CME ClearPort via an electronic link.
For information on index methodology and trading, please contact Larry Gagliardi at (603) 284-4846 or Rachel Brown at (603) 294-4844; or go to www.houstonstreet.com.
About HoustonStreet
HoustonStreet Exchange, Inc. is the largest electronic marketplace for physical crude oil and refined products in the United States. HoustonStreet also serves as a front end electronic trading platform for various CME ClearPort® petroleum products. Further information about HoustonStreet can be found at www.houstonstreet.com.