ICE Plans To Launch IFAD And Trading In Murban Futures Contracts In Q1 2021 - Quick Facts

(RTTNews) - Intercontinental Exchange, Inc. (ICE) on Monday provided an update on its plans to launch ICE Futures Abu Dhabi (IFAD) and the world's first futures contracts based on Murban crude oil.

ICE plans to launch IFAD and trading in Murban futures contracts late in the first quarter of 2021, subject to the completion of regulatory approvals. The specific date for the launch of trading will be announced later.

In November 2019, ICE announced its plans to launch IFAD, with the Abu Dhabi National Oil Company and nine of the world's largest energy traders partnering with ICE on the launch.

ICE Murban Futures will be a physically delivered contract with delivery at Fujairah in the United Arab Emirates (UAE) on a free on board (FOB) basis. Contracts traded at IFAD will be cleared at ICE Clear Europe and will clear alongside the other most significant global oil benchmarks.