SINGAPORE--(BUSINESS WIRE)--Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, today announced that ICE Futures Singapore and ICE Clear Singapore expects to launch on November 17, 2015, with five new contracts.
Subject to final approval by the Monetary Authority of Singapore (MAS), ICE’s Singapore exchange and clearing house expects to trade and clear the first tranche of contracts below:
- Mini Brent futures
- Mini Gasoil futures
- Kilo Gold futures
- Mini Onshore Renminbi futures
- Mini Offshore Renminbi futures
These contracts reflect customer demand and complement ICE’s existing portfolio of financial and commodity benchmark contracts. ICE’s regional portfolio of energy, gold and FX contracts offer a range of hedging tools based on the diverse needs of market participants.
“ICE Futures Singapore will offer a range of global and regional products designed to meet the needs of market participants for efficient trading and clearing services in their local jurisdiction,” said Lucas Schmeddes, President & COO, ICE Futures Singapore and ICE Clear Singapore. “We are pleased to announce the November launch and would like to thank our clearing members and customers for their ongoing support and interest.”
In addition, 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.
The establishment of ICE Futures Singapore and ICE Clear Singapore support an expanded customer base and the further development of derivatives markets in Asia. ICE has had a presence in Singapore since 2000 serving customers in the global energy markets. In recent years, Asia-based trading activity in ICE's benchmark commodity and interest rate products has been rising as the region assumes a greater role in global derivatives markets.
About Intercontinental Exchange
Intercontinental Exchange (NYSE:ICE) operates the leading network of regulated exchanges and clearing houses. ICE’s futures exchanges and clearing houses serve global commodity and financial markets, providing risk management and capital efficiency. The New York Stock Exchange is the world leader in capital raising and equities trading.
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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, 2014, as filed with the SEC on February 5, 2015.
SOURCE: Intercontinental Exchange
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