London oil exchange that has futures and options contracts in Brent blend crude oil and gas oil and a futures contract in UK natural gas. In June 2001, the IPE became a wholly owned subsidiary of IntercontinentalExchange and since 2002 has been transitioning to electronic trading operations.
The International Petroleum Exchange, based in London, is one of the world's largest energy futures and options exchanges. Brent Crude is a world benchmark for oil prices, but the exchange also handles futures contracts and options on Oil gas, natural gas, electricity (baseload and peakload), and, as of 22 April, 2005, European Climate Exchange (ECX). The exchange has been known as ICE Futures since 2005.
