- Intercontinental Exchange (NYSE:ICE) and Magellan Midstream Partners (NYSE:MMP) add dock capacity auctions for ICE Permian WTI crude oil futures contracts at Magellan's terminals in Galena Park and Seabrook.
- The monthly auction process will allow customers who purchase an ICE Permian WTI crude futures contract, deliverable at Magellan’s East Houston terminal, the optionality to load that product directly onto a vessel at Galena Park and Seabrook dock facilities.
- With the dock capacity rights to be auctioned through ICE’s WebICE platform, the initial auction is scheduled for Sept. 10, 2019 for physical delivery in November.