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ICE to launch Singapore platform in Nov with 5 new contracts

Published 2015-09-09, 05:15 a/m
ICE to launch Singapore platform in Nov with 5 new contracts
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MANILA, Sept 9 (Reuters) - Intercontinental Exchange ICE.N
will launch its Singapore platform on Nov. 17, with five new
contracts, the bourse said on Wednesday.
The contracts are one-kilogramme gold futures and
"mini-Brent" futures that ICE announced earlier as well as mini
gasoil and mini onshore and offshore renminbi futures.
ICE's mini-Brent contract will be for 100 barrels each, a
tenth of the size of its Brent crude oil benchmark LCOc1 .
Atlanta-based ICE earlier planned to launch its Singapore
platform in March. But China's Zhengzhou Commodity Exchange
complained against the use of its settlement prices as
references for the cotton and white sugar futures contracts that
ICE was initially looking to launch.
The five contracts it will introduce in November "reflect
customer demand and complement ICE's existing portfolio of
financial and commodity benchmark contracts", the bourse said in
a statement.
ICE bought the Singapore Mercantile Exchange in 2014 for
$150 million to gain a foothold in trading and clearing in Asia,
adding to its network of markets and clearing houses in the
United States, Canada, Brazil, Britain and continental Europe.

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