ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today announced that operations at ICE Futures Singapore and ICE Clear Singapore are planned to commence on March 17, 2015.
Following the acquisition of the Singapore Mercantile Exchange and Singapore Mercantile Exchange Clearing Corporation in November 2013, ICE retained both licenses to operate as an approved exchange and an approved clearing house respectively. The listed and cleared products at ICE Futures Singapore and ICE Clear Singapore will be announced shortly, subject to final regulatory approval from the Monetary Authority of Singapore (MAS). In addition, leveraging ICE's proven repository technology and to further support regional market participants, ICE Trade Vault, LLC has submitted a foreign trade repository application to the financial regulator of Singapore.
The Asian hub for ICE will be co-headed by Jennifer Ilkiw, ICE Vice President for the Asia Pacific region and Lucas Schmeddes, President and Chief Operating Officer of ICE Futures Singapore and ICE Clear Singapore.
ICE has had a local presence in Singapore since 2000 as a result of its global oil business. Today, Singapore is an increasingly important commercial and physical hub for Asia’s financial and commodity markets. Through this base of operations in Asia, ICE will offer further global and regional products for hedging and trading. In addition, the Singapore launch will expand ICE’s network of exchanges and clearing houses that serve the trading, data and risk management requirements of global market participants.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures and Liffe.
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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, 2013, as filed with the SEC on February 14, 2014.
SOURCE: Intercontinental Exchange
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