LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
In tune with plans unveiled earlier this year, Intercontinental Exchange Inc (NYSE:ICE) today announced the successful launch of trading and clearing for ICE Futures Singapore and ICE Clear Singapore. The venues started operating on Tuesday, November 17, 2015.
During the first day of operations, a total volume of 8,847 contracts across energy, gold and FX was traded and cleared.
ICE is the first international exchange group to found local trading and clearing infrastructure in Singapore. The first set of ICE Futures Singapore contracts include mini Brent futures, mini gasoil futures, kilo gold futures, mini onshore renminbi futures and mini offshore renminbi futures. The contracts complement ICE’s existing portfolio of financial and commodity benchmark contracts offered in Europe and the U.S.
Lucas Schmeddes, President & COO, ICE Futures Singapore and ICE Clear Singaporem said,
“With a range of contracts across energy, gold and FX, our Singapore exchange and clearing house provides market participants with effective tools for managing price risk locally. We would like to thank customers and clearing members for their continued support and we look forward to working with the market to develop further contracts to support trading and clearing based on local regulatory requirements.”
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 growing as the region assumes a more important role in global derivatives markets.
ICE Futures Singapore and ICE Clear Singapore are regulated by the Monetary Authority of Singapore (MAS).
To view the official announcement from ICE on the launch of new venues, click here.