• January 18, 2021

ICE Provides Update on ICE Murban Futures Ahead of Launch of ICE Futures Abu Dhabi on March 29, 2021 - Odessa American: Business

e-Edition Subscribe

ICE Provides Update on ICE Murban Futures Ahead of Launch of ICE Futures Abu Dhabi on March 29, 2021

Print
Font Size:
Default font size
Larger font size

Posted: Wednesday, January 13, 2021 7:00 am

ABU DHABI--(BUSINESS WIRE)--Jan 13, 2021--

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 ICE Futures Abu Dhabi (IFAD).

ICE plans to launch IFAD and trading in ICE Murban Crude Oil Futures on March 29, 2021, subject to the completion of regulatory approvals.

“We are making good progress on securing the regulatory approvals necessary for launch. We have received approval from the Bank of England for ICE Clear Europe to clear contracts traded on IFAD and IFAD is now a Recognized Market Operator by the Monetary Authority of Singapore,” said Jamal Oulhadj, President of ICE Futures Abu Dhabi. “We believe that the combination of our partners, ICE’s extensive global energy network and customer base, and the capital efficiencies created by clearing Murban alongside Brent, WTI, and Dubai, mean that Murban futures should have a deep base of support as the market uses the futures to buy, sell and hedge Murban crude.”

In addition to the approvals from the Bank of England and Monetary Authority of Singapore, ICE Futures Abu Dhabi has completed the relevant regulatory processes or analysis required to permit direct access to IFAD from a range of jurisdictions including Abu Dhabi Global Market, the United States, Switzerland, the Netherlands, France, Norway, Australia, Japan and South Korea.

In November 2019, ICE announced 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 complemented with a range of cash settled derivatives. These include outright, differential and crack differentials against Brent, WTI, Gasoil and Naphtha among others, as well as inter-commodity spreads, which will launch alongside Murban futures.

Contracts traded at IFAD will be cleared at ICE Clear Europe, a leading energy clearing house, and will clear alongside ICE’s global energy futures platform covering oil, natural gas and the environmental complex, allowing customers to benefit from associated margin offsets.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company and provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing, trading and clearing of a broad array of derivatives contracts and financial securities across major asset classes. Our comprehensive data services offering supports the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. As a leading technology provider for the U.S. residential mortgage industry, ICE Mortgage Technology provides the technology and infrastructure to transform and digitize U.S. residential mortgages, from application and loan origination through to final settlement.

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.

ICE- CORP

Source: Intercontinental Exchange

View source version on businesswire.com:https://www.businesswire.com/news/home/20210113005461/en/

CONTACT: ICE Media Contact:

Rebecca Mitchell

Rebecca.Mitchell@theice.com

+44 7951 057 351

ICE Investor Contact:

Warren Gardiner

Warren.Gardiner@theice.com

770-835-0114 

KEYWORD: UNITED STATES UNITED KINGDOM UNITED ARAB EMIRATES NORTH AMERICA MIDDLE EAST EUROPE NEW YORK

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Intercontinental Exchange

Copyright Business Wire 2021.

PUB: 01/13/2021 08:00 AM/DISC: 01/13/2021 08:00 AM

http://www.businesswire.com/news/home/20210113005461/en

© 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Odessa, TX

Current Conditions

Clear
44°
Humidity: 44%
Winds: S at 11mph
Feels Like: 39°

Your Extended Forecast

Today

weather
High 69°/Low 36°
Mainly sunny. Highs in the upper 60s and lows in the mid 30s.

Tomorrow

weather
High 44°/Low 36°
More clouds than sun. Highs in the mid 40s and lows in the mid 30s.

wednesday

weather
High 49°/Low 41°
Mostly cloudy. Highs in the upper 40s and lows in the low 40s.

thursday

weather
High 62°/Low 46°
Showers possible in the afternoon. Highs in the low 60s and lows in the mid 40s.
Online Features

Pet Central

pets

Having a pet is a lot of responsibility, and we’ll help by giving you lots of tips and tricks! More >>

Fitness

Fitness

Our fitness articles will help teach you how to work out with gym- and home-based exercises. More >>

Crosswords

Crosswords

Enjoy the crosswords challenge in our free daily puzzles, from the harder Sunday crossword to the quicker daily. More >>

Sudoku

Sudoku

Every Sudoku has a unique solution that can be reached logically. Enter numbers into the blank spaces so that each row, column and 3x3 box contains the numbers 1 to 9. More >>




  • ALL-ACCESS: Subscribe to our e-edition and premium website at myoaoa.com.
    You can read your daily newspaper without taking a walk to the driveway.
    Look back at yesterday's newspaper, or issues from months ago with our archive feature.
    Call circulation at 432-337-7314 to sign up today.