Intercontinental Exchange (NYSE:ICE) has just announced the appointment of Lee Yi Shyan as Chairman of ICE Futures Singapore (IFSG) and ICE Clear Singapore (ICSG) effective as of November 24 2016.
Mr. Lee is a Member of Parliament in Singapore and previously served in the Singapore government over a ten year period as a Senior Minister of State in the Ministry of Trade and Industry, the Ministry of National Development and the Ministry of Manpower. Prior to this, between 2001 and 2006, Mr. Lee served as the CEO of International Enterprise Board, an organisation promoting international trade with businesses in Singapore. Mr. Lee joined the boards of IFSG and ICSG on November 7.
Lucas Schmeddes, President and COO, IFSG and ICSG, said:
We are pleased to welcome Lee Yi Shyan as Chairman of the boards of ICE Futures Singapore and ICE Clear Singapore during this exciting time as we continue to develop our markets in this important region. Lee Yi Shyan brings with him a wealth of experience in the region and internationally that bring valuable insights and experience to growing our business in the region.
Mr. Lee Yi Shyan commented:
Asia has remained the fastest growing region in the world. In its next phase of growth, Asia is expected to be even more integrated with world trade and the global economy. Against this backdrop, ICE Futures Singapore and ICE Clear Singapore play an instrumental role in providing global market access to many energy, commodity and equity producers and traders for greater price transparency, predictability and stability. I am pleased and honoured to join ICE’s expanding operations in Singapore at this opportune time.
Intercontinental Exchange has had a presence in Singapore since 2000, beginning with 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.