ABU DHABI, United Arab Emirates – (BUSINESS WIRE) – April 21, 2021 –
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of market data, technology and infrastructure, today announced that a record 18,848 crude oil futures contracts ICE Murban traded on ICE Futures Abu Dhabi (“FIDA”) on April 20, marking its highest volume day since contracts launched on March 29. Along with the ICE Murban crude oil futures contracts, IFAD has initiated trading in 18 cash-settled derivatives and inter-commodity spreads linked to Murban, providing the market with the widest range of trading and hedging methods. Murban crude oil.
A total of 132,450 contracts have been negotiated at IFAD since inception, or 132 million barrels of Murban crude oil. This includes 125,890 Murban ICE crude oil futures and 6,560 Murban-related cash-settled derivatives, 49 companies having traded at IFAD since inception.
“Although we are only in the fourth week, we are seeing weekly growth in volumes traded and open interest in fast and delayed months, with activity through January 2022. New daily volume records are set. established every week, and there are an increasing number of participants trading Murban, ”said Jamal Oulhadj, President of ICE Futures Abu Dhabi. “This is a very encouraging start and truly reflects how the energy industry is using its new ability to hedge Murban crude futures price risk as the physical and financial aspects of the market come together to contribute to the price formation process of Murban crude oil. “
Murban Futures are open for trading 24 hours a day on Mondays and 22 hours a day Tuesday through Friday, with investors from jurisdictions such as Abu Dhabi Global Market, United States, Singapore, United Kingdom, Switzerland, Netherlands, France, Norway, Australia, Japan and South Korea, able to negotiate with IFAD. IFAD has 27 exchange members and 20 clearing members, which are listed in full Membership page.
Contracts traded on IFAD are cleared through ICE Clear Europe where they are cleared alongside ICE’s global energy futures platform spanning oil, natural gas and environmental complex, allowing clients to benefit from critical margin offsets to improve capital efficiency.
About 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 across major asset classes that provide our clients with access to critical workflow tools that increase transparency and operational efficiency. We operate Trades, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our global fixed income data services and execution capabilities provide insights, analytics, and platforms that help our clients take advantage of opportunities and operate more efficiently. AT ICE Mortgage Technology, we’re transforming and digitizing the US residential mortgage process, from consumer engagement to loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunities.
Trademarks of ICE and / or its subsidiaries 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 can be found here. The key information documents for certain products covered by the EU Regulation on packaged retail and insurance-based investment products can be found on the relevant exchange website under the heading ‘Documents d’ key information (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 forward-looking statements, see documents filed by the Securities and Exchange Commission (SEC) of ICE, including, but not limited to limited thereto, the risk factors in ICE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC on February 4, 2021.
Source: Intercontinental exchange
CONTACT: ICE media contact:
KEYWORD: MIDDLE EAST UNITED ARAB EMIRATES
INDUSTRY KEYWORD: FINANCING OF PROFESSIONAL ENERGY SERVICES BANKING OIL / GAS
SOURCE: Intercontinental exchange
Copyright Business Wire 2021.
PUB: 04/21/2021 8:36 a.m. / DISC: 04/21/2021 8:36 a.m.
Copyright Business Wire 2021.