Abu Dhabi, United Arab Emirates – (BUSINESS WIRING) – Intercontinental Exchange, Inc. (NYSE: ICE), the world’s leading provider of data, technology and market infrastructure, today announced that a record 14,419 ICE Murban crude oil futures contracts are being traded on ICE Futures Abu Dhabi (“IFAD”). April 7, which was the day of the highest volume since the launch of contracts on March 29. Along with ICE Murban Crude Oil Futures, IFAD began trading 18 derivatives with Murban settlement and inter-commodity spreads, offering the market the widest range of ways to trade and hedge Murban crude oil.
Since launch, IFAD has sold 38,712 contracts. This includes 34,202 ICE Murban crude oil futures contracts and 4,510 Murban-related derivatives with 38 firms trading on IFAD since launch.
“The scale of the market reaction to the launch of Murban futures is both encouraging and reassuring,” said Jamal Ulhaj, President of ICE Futures Abu Dhabi. “The energy industry needed the ability to hedge the forward price risks of Murban oil, and we see participants from both the physical and financial side of the market coming together to shape bilateral pricing on a daily basis and contribute to the pricing process. crude oil Murban “.
Murban Futures are open for trading 24 hours a day on Mondays and 22 hours a day from Tuesday to Friday with investors from jurisdictions including the Abu Dhabi Global Market, USA, Singapore, UK, Switzerland, Netherlands, France, Norway, Australia, Japan and South Korea can trade on IFAD. IFAD has 26 exchange members and 19 clearing members, which are listed in full on the IFAD membership page.
Contracts traded on IFAD are cleared at ICE Clear Europe, where they are cleared alongside ICE’s global oil, natural gas and environmental complex futures platform, allowing clients to benefit from critical margin compensations to improve capital efficiency.
About the intercontinental exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services for major asset classes that offer our clients access to critical workflow tools that increase transparency and operational efficiency. We are working exchanges, including New York Stock Exchange, and clearing houses that help people invest, raise capital, and manage risk across multiple asset classes. Our total fixed income data transmission services and Execution Capabilities provide information, analytics and platforms that help our clients seize opportunities and work more effectively. AT Mortgage technologies ICE, we are transforming and digitizing the US mortgage process, from consumer interactions to loan registration. Together, we transform, optimize and automate industries to empower our customers.
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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – Non-historical statements in this press release regarding ICE’s business are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, please refer to ICE Securities and Exchange Commission (SEC) documents, including but not limited to risk factors in the Annual Report ICE. Form 10-K report for the year ended December 31, 2020, filed with the SEC on February 4, 2021.
Source: Intercontinental Exchange.