Intercontinental Exchange to extend trading hours for EU gas and power

LONDON, Jan 8 (Reuters) - The Intercontinental Exchange ICE.N will extend its daily trading hours for European gas and power contracts by February 23, it said in a circular late on Wednesday.

Europe is increasingly relying on globally traded liquefied natural gas to meet demand, with the U.S. emerging as its key supplier and the new trading times will match the 22-hour trading cycle of the US Henry Hub gas market.

The new hours for its Dutch TTF, British National Balancing Point (NBP) and German Power contracts will be 01.50-00.00 CET compared with the current trading hours of 08.00-18.00 CET, ICE said.

ICE said it will engage with members and their customers over the coming weeks about the proposed extension of the trading hours and confirm the effective date in due course.