LONDON, Nov. 11, 2019 /PRNewswire/ -- Intercontinental
Exchange, Inc. (NYSE: ICE), a leading operator of global exchanges
and clearing houses and provider of data and listings services,
today announced that Abu Dhabi National Oil Company (ADNOC) and
nine of the world's largest energy traders are partnering with ICE
on the launch of ICE Futures Abu Dhabi, a new exchange in Abu Dhabi
Global Market that will host the world's first Murban crude oil
futures contracts.
The nine companies supporting the launch of ICE Futures Abu
Dhabi are BP, GS Caltex, INPEX, JXTG, PetroChina, PTT, Shell, TOTSA
(Total) and Vitol.
The news follows the announcement from ICE earlier today
regarding the planned launch of ICE Futures Abu Dhabi and ICE
Murban futures in the first half of 2020, subject to relevant
regulatory approvals.
"Partnering with ADNOC and nine of the world's largest physical
traders of Murban crude to launch ICE Futures Abu Dhabi is a
significant endorsement and strong signal of the potential for
Murban to become a new global crude benchmark," said Jeffrey C. Sprecher, Chairman and Chief
Executive Officer, Intercontinental Exchange.
"Intercontinental Exchange is one of the world's most recognized
and leading operators of global exchanges and clearing houses and
ADNOC is pleased to be a part of this significant new venture which
will strengthen Abu Dhabi's
position as a global energy hub," said His Excellency Dr.
Sultan Ahmed Al Jaber, UAE Minister
of State and ADNOC Group CEO. "We are particularly pleased that
nine leading global energy companies, all of which are our partners
and customers, have decided to join us in this initiative. Having a
new, independent exchange in Abu
Dhabi will not only benefit the UAE, but also physical and
financial oil traders around the world."
ICE Murban Futures will be a physically delivered contract with
delivery at Fujairah in the
United Arab Emirates on a free on
board (FOB) basis. Murban Crude is a light sweet crude produced by
ADNOC. ADNOC produces roughly three million barrels of oil per day,
of which approximately 1.7 million barrels per day is Murban
crude.
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, 2018, as filed with the SEC on
February 7, 2019.
About ADNOC
ADNOC is one of the world's leading diversified energy and
petrochemicals groups with a daily output of about 3 million
barrels of oil and 10.5 billion cubic feet of natural gas. With 14
specialist subsidiary and joint venture companies, ADNOC is a
primary catalyst for the UAE's growth and diversification. For
further information: media@adnoc.ae.
ICE-CORP
ICE Media Contact
Rebecca
Mitchell
+44 7951 057351
rebecca.mitchell@theice.com
ICE Investor Relations Contact:
Warren Gardiner
+1 770 835 0114
warren.gardiner@theice.com
investors@theice.com
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SOURCE Intercontinental Exchange, Inc.