Categories: Markets

ICE to launch ICE Futures Abu Dhabi and the world’s first Murban crude futures contracts

The FINANCIAL — Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, today announced that it plans to launch ICE Futures Abu Dhabi (IFAD) and the world’s first futures contracts based on Murban crude oil on March 29, 2021, subject to the completion of regulatory approvals.

In November 2019, ICE announced its plans to launch IFAD, with the Abu Dhabi National Oil Company (ADNOC) – the producer of Murban crude – and nine of the world’s largest energy traders partnering with ICE on the launch.

ICE Murban Crude Oil Futures will be a physically delivered contract with delivery at Fujairah in the United Arab Emirates (UAE) on a free on board (FOB) basis. ICE Murban Futures will be complemented with a range of cash settled derivatives. These include outright, differential and crack differentials against Brent, WTI, Gasoil and Naphtha among others, as well as inter-commodity spreads, which are planned to launch alongside Murban futures.

Contracts traded at IFAD will be cleared at ICE Clear Europe, a leading energy clearing house, and will clear alongside ICE’s leading global energy futures platform covering oil, natural gas and the environmental complex, allowing customers to benefit from associated margin offsets and delivering meaningful capital efficiencies.

The FINANCIAL

Recent Posts

Second Bank Employee Admits Role in Fraud Conspiracy

PROVIDENCE –  Another former bank employee today admitted to a federal judge that she stole…

5 days ago

Sussex County Woman Sentenced to 34 Months in Prison for Concealing Terrorist Financing to Syrian Foreign Terrorist Organizations

A Sussex County, New Jersey, woman was sentenced today to 34 months in prison for…

5 days ago

Brooklyn Park Man Pleads Guilty to His Role in $250 Million Feeding Our Future Fraud Scheme

Liban Yasin Alishire has pleaded guilty to his role in the $250 million fraud scheme…

5 days ago

Former CEO Of Email Security Company Sentenced To Five Years In Prison

Damian Williams, the United States Attorney for the Southern District of New York, announced today…

5 days ago

Trusted B2B Trading Platform

In today's fast-paced and intensely competitive business world, it is necessary for organisations to constantly…

5 days ago

Part-time working can boost economy and bring economically inactive people back into work

A major new research report into the flexible furlough scheme from Cranfield University’s School of…

5 days ago