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The Company's primary goal is to explore for Coal in North America, currently the focus is in Kentucky, Saskatchewan and West Virginia.

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Message: Credit crisis boosts need for ICE coal futures

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Credit crisis boosts need for ICE coal futures

posted on Nov 17, 08 10:51AM

By Jacqueline Cowhig LONDON, Nov 7 (Reuters) - GlobalCOAL and Intercontinental Exchange (ICE) are launching Newcastle physical coal futures on Dec. 5 at a time when liquidity is shrinking due to fear of counterparty risk, globalCOAL CEO Eoghan Cunningham said. Cunningham said this had been shown by increased demand on globalCOAL's existing trading platform for intermediaries to provide so-called credit sleeves between counterparties who are unwilling to deal directly with each other. "The number...

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