London / Louisville, 10 May 2011

ICAP Energy, the energy arm of ICAP plc, announced today that it has expanded its coal broking activities to include a US-based team for coverage of international coal. The US desk, located in Houston, offers financial swaps for delivery at Amsterdam, Rotterdam and Antwerp (API2) and Richards Bay South Africa (API4) as an extension of ICAP’s London-based coal and forward freight derivatives desk.

Thomas Gibson, Vice President of ICAP in Houston, said: “Providing greater access to international coal markets will clearly be of benefit to our clients.  We are thrilled to leverage the success and strong presence of our London coal desk and to provide a more efficient marketplace.”

Dennis Walton, Associate Director of ICAP Energy Ltd. in London, said: “International markets for coal have grown significantly in recent years.  ICAP now offers its clients a 16-hour execution service in coal through hubs based in London and Houston.”

By having a team physically based in the US, ICAP hopes to increase its level of service and price execution to its current clients who trade both domestic and international coal products.  In addition, the combination of these markets with ICAP Shipping, becomes a single-source for transatlantic coal arbitrage opportunities.

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