"Through its electronic trading platform, the Company’s marketplace brings together buyers and sellers of derivative and physical commodities and financial contracts and its participants to optimize their trading, risk management and hedging operations. " - From Google finance summary description.
Such Stock like USO and UNG and others are tide by futures data to ICE. Try Google Finance search for "ICE USO UNG HES" try other gas types alike, I used HES as a marker to the three.
Note 2006, after katrina oil started to come down (AND OIL SHOULD HAVE LEVELED OUT DOWNWARD), Then USO & UNG came live running on spectulation of future prices from trading contract price data & that seems to come from ICE. Seems to me ICE making calls on future prices climb after Katria when OIL was going down, then USO & UNG came on the market doing the future contract buy & sell, then all three shot out of control.
Now that it looks like OIL USO UNG started to fall and everyone looking to where these so called price values came from I would back off ICE till things come to light. Seems to much driving data points towards ICE, while USO & UNG stocks went nuts or in other words INFLATED worth based on OIL.
If OIL falls and other energy I see a hard drop on USO and UNG and maybe ICE once IMF investigations starts snooping for the spike up in energy prices.
(All depends where IMF finds the problem and source of the price increases)
$121.93 (06/15/08)
