ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today announced the first five futures contracts to be listed for trading and clearing at ICE Futures Singapore and ICE Clear Singapore on March 17, 2015, subject to regulatory approval from the Monetary Authority of Singapore (MAS).
The first tranche of products include the following regional futures contracts:
- Mini ICE Brent Crude futures
- One-kilo Gold futures
- Chinese Cotton No.1 futures
- Chinese White Sugar futures
- Chinese Renminbi futures
All contracts, excluding the One-Kilo Gold futures contract, will be cash settled. The One-Kilo Gold futures contract will be physically settled, with delivery in Singapore.
ICE selected these contracts following feedback from market participants, which emphasized the regional significance of hedging and trading each contract to local market participants. These new futures contracts will complement ICE’s existing portfolio of benchmark contracts, which includes ICE’s Brent, Sugar No.11, White Sugar, Cotton No.2 and Mini-Gold contracts; as well as the soon to be launched World Cotton contract.
ICE Trade Vault, LLC has submitted a foreign trade repository application to MAS, which will further support market participants’ compliance with regulatory reform in the region.
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 plans to offer further global and regional products while expanding its network of exchanges and clearing houses to 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 and ICE Futures.
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 www.intercontinentalexchange.com/terms-of-use
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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