Intercontinental Exchange Provides Update on Plans to Launch ICE Futures Abu Dhabi & World’s First Murban Crude Futures Con...
October 12 2020 - 6:59AM
Business Wire
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator
of global exchanges and clearing houses and provider of mortgage
technology, data and listings services, today provides an update on
its plans to launch ICE Futures Abu Dhabi (IFAD) and the world’s
first futures contracts based on Murban crude oil.
Subject to the completion of regulatory approvals, ICE plans to
launch IFAD and trading in Murban futures contracts late in the
first quarter of 2021. A more specific date for the launch of
trading will be announced in due course.
In November 2019, ICE announced its plans to launch IFAD, with
the Abu Dhabi National Oil Company and nine of the world’s largest
energy traders partnering with ICE on the launch.
ICE Murban Futures will be a physically delivered contract with
delivery at Fujairah in the United Arab Emirates (UAE) on a free on
board (FOB) basis. ICE Murban Futures will be complemented with a
range of cash settled derivatives which IFAD plan to launch for day
one of trading. The full list of contracts are listed here and
include:
• Crude Outright - Murban Singapore Marker 1st Line Future
Contract;
• Crude Outright - Murban Singapore Marker 1st Line Balmo Future
Contract;
• Crude Outright - Murban 1st Line Future Contract;
• Crude Outright - Murban 1st Line Balmo Future Contract;
• Crude Diff - Murban Singapore Marker 1st Line vs Brent
Singapore Marker 1st Line Future Contract;
• Crude Diff - Murban Singapore Marker 1st Line vs Brent
Singapore Marker 1st Line Balmo Future Contract;
• Crude Diff - Murban 1st Line vs Brent 1st Line Future
Contract;
• Crude Diff - Murban 1st Line vs Brent 1st Line Balmo Future
Contract;
• Crude Diff - Murban Singapore Marker 1st Line vs Brent 1st
Line Future Contract;
• Crude Diff - Murban Singapore Marker 1st Line vs Brent 1st
Line Balmo Future Contract;
• Crude Diff - Murban 1st Line vs WTI 1st Line Future
Contract;
• Crude Diff - Murban 1st Line vs WTI 1st Line Balmo Future
Contract;
• Crude Diff - Murban 1st Line vs Dated Brent (Platts) Future
Contract;
• Crude Diff - Murban 1st Line vs Dated Brent (Platts) Balmo
Future Contract;
• Gasoil Crack - Singapore Gasoil (Platts) vs Murban 1st Line
Future Contract;
• Fuel Oil Crack - Fuel Oil 380 CST Singapore (Platts) vs Murban
1st Line Future Contract;
• Gasoline Crack - Singapore Mogas 92 Unleaded (Platts) vs
Murban 1st Line Future Contract;
• Naphtha Crack - Naphtha C+F Japan (Platts) vs Murban 1st Line
Future Contract (in Bbls).
Contracts traded at IFAD will be cleared at ICE Clear Europe, a
leading energy clearing house, and will clear alongside the most
significant global oil benchmarks - ICE Brent, ICE WTI, ICE
(Platts) Dubai and ICE Low Sulphur Gasoil - allowing customers to
benefit from associated margin offsets and delivering meaningful
capital efficiencies.
About Intercontinental Exchange
Intercontinental Exchange
(NYSE: ICE) is a Fortune 500 company formed in the year 2000 to
modernize markets. ICE serves customers by operating the
exchanges, clearing houses and information services
they rely upon to invest, trade and manage risk across global
financial and commodity markets. A leader in market data,
ICE Data Services serves the
information and connectivity needs across virtually all asset
classes. As the parent company of the New
York Stock Exchange, the company is the premier venue
for raising capital in the world, driving economic growth and
transforming markets.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located at http://www.intercontinentalexchange.com/terms-of-use.
Key Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation
can be accessed on the relevant exchange website under the heading
“Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2019, as
filed with the SEC on February 6, 2020.
Source: Intercontinental Exchange
ICE-CORP
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version on businesswire.com: https://www.businesswire.com/news/home/20201012005357/en/
ICE Media Contact Rebecca Mitchell +44 7951 057351
rebecca.mitchell@theice.com
ICE Investor Contact: Warren Gardiner 770-835-0114
Warren.Gardiner@theice.com
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