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6,344 ICE Murban Crude Oil futures contracts trade on day of launch
Additional 2,510 Murban related cash settled derivative contracts traded
27 firms traded on IFAD
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced the first day of trading of ICE’s newest exchange, ICE Futures Abu Dhabi ("IFAD"), and ICE Murban Crude Oil futures, the world’s first Murban futures contract.
ICE Murban Crude Oil Futures opened for trading on March 29, alongside 18 Murban-related cash settled derivatives and inter-commodity spreads, offering the market the broadest range of ways to trade and hedge Murban crude.
Market activity on ICE Futures Abu Dhabi on the first day of trading included:
8,854 lots traded in total. This included 6,344 ICE Murban Crude Oil futures contracts and 2,510 Murban related cash settled derivative contracts.
Of the cash settled derivatives, 2,500 lots of Murban Singapore Marker 1st Line futures and 10 lots of Murban 1st Line vs Brent 1st Line futures contracts traded.
27 firms traded on day of launch.
"The depth of market activity on our first day of trading is extremely encouraging," said Jamal Oulhadj, President of ICE Futures Abu Dhabi. "On the first day of launch we saw active trading, consistently tight bid offer spreads, a high number of participants from both the physical and financial sides of the market, and liquidity out for the first six months of the curve. The mix of trading across the Murban futures contract and the cash settled derivatives reflects how our customers are already beginning to utilize the extensive range of tools we offer to trade and hedge Murban crude price exposure."
Murban futures are open for trading for 24 hours a day on Mondays and 22 hours a day Tuesdays to Fridays, with investors from jurisdictions including Abu Dhabi Global Market, United States, Singapore, UK, Switzerland, the Netherlands, France, Norway, Australia, Japan and South Korea, able to trade on IFAD. IFAD has 26 Exchange Members and 19 Clearing Members, who are listed in full on IFAD’s Membership page.
Contracts traded on IFAD are cleared at ICE Clear Europe where they are cleared alongside ICE’s global energy futures platform covering oil, natural gas and the environmental complex, allowing customers to benefit from critical margin offsets to enhance capital efficiency.
For more information on how to clear or trade IFAD markets please contact: Membership-AbuDhabi@theice.com.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company and provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing, trading and clearing of a broad array of derivatives contracts and financial securities across major asset classes. Our comprehensive data services offering supports the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. As a leading technology provider for the U.S. residential mortgage industry, ICE Mortgage Technology provides the technology and infrastructure to transform and digitize U.S. residential mortgages, from application and loan origination through to final settlement.
Trademarks of ICE and/or its affiliates 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 is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (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 the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
Source: Intercontinental Exchange
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