Intercontinental exchange Archives

Intercontinental Exchange Launches Eight New Regional MSCI Futures Contracts

April 17, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: capital, clearing houses, exchanges, ICE, ICE block design, ice data services, Intercontinental exchange, MSCI Futures Contracts, NYSE

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses, announced the launch of eight new regional MSCI futures contracts. The new contracts, which started trading yesterday, are listed on ICE Futures U.S. and five expiry months have been listed for each contract: June 2019, September 2019, December 2019, March 2020 and June 2020.

“ICE Futures U.S. has been instrumental in the development of the MSCI derivatives ecosystem. The addition of these products provides our customers with greater flexibility to manage risk in a capital efficient manner, in the deepest pool of MSCI derivatives liquidity,” said Chris Rhodes, Global Head of Financial Derivatives at ICE Futures.
“We are excited to work with ICE as they expand their existing suite with these new index futures,” said George Harrington, Global Head of Futures and Options Licensing at MSCI. “This continued expansion underscores the quality, widespread use and adoption of the MSCI ACWI and MSCI World Indexes.”

The new MSCI futures contracts are listed below:

MSCI World NTR USD Index
MSCI North America NTR USD Index
MSCI Europe NTR USD Index
MSCI Pacific NTR USD Index
MSCI USA GTR USD Index
MSCI Canada GTR USD Index
MSCI AC Asia ex-Japan NTR USD Index
MSCI Pacific ex-Japan NTR USD Index

ICE offers a comprehensive set of futures and options on a range of MSCI and FTSE indices, as well as a range of single stock futures and options, which enable customers to hedge against exposure to market volatility.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company is the premier venue for raising capital in the world, driving economic growth and transforming markets.

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 at http://www.intercontinentalexchange.com/terms-of-use. 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, 2018, as filed with the SEC on February 7, 2019.

ICE Benchmark Administration Successfully Completes the Transition of LIBOR Panel Banks to the Waterfall Methodology

April 5, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: ICE Benchmark Administration, Intercontinental exchange, LIBOR, Libor Panel Banks, The ICE, Waterfall Methodology

LONDON–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that ICE Benchmark Administration Limited (IBA) has successfully completed the transition of all LIBOR panel banks to the Waterfall Methodology.

IBA announced in its report on the evolution of ICE LIBOR, published on April 25, 2018, that it intended to begin the process of transitioning LIBOR Panel Banks to making submissions in accordance with the Waterfall Methodology, as set out in the LIBOR Output Statement. The LIBOR Output Statement sets out a single LIBOR definition and a standardised Waterfall Methodology for making LIBOR submissions, based on transactions to the greatest extent possible. The transition occurred on a gradual basis to minimise operational and technology risks.

IBA is now pleased to announce the successful completion of the transition to the Waterfall Methodology for all LIBOR Panel Banks.

Notwithstanding this successful transition, there is no guarantee that any LIBOR settings will continue to be published after year-end 2021. Users of LIBOR should not rely on the continued publication of any LIBOR settings when developing transition or fall back plans.

About Intercontinental Exchange

Intercontinental Exchange (NYSE:ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company is the premier venue for raising capital in the world, driving economic growth and transforming markets.

SOURCE: Intercontinental Exchange

Intercontinental Exchange Releases 2019 Corporate Responsibility Report

April 2, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: Corporate Responsibility Report, ESG, ETF, financial expertise, ICE BofAML, Intercontinental exchange, regulated exchanges, sustainable finance, The ICE

Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today released its annual Corporate Responsibility Report. The report complements Intercontinental Exchange’s enhanced corporate citizenship website which provides timely information and resources that are meaningful to stakeholders as issues related to environmental, social and governance topics continue to evolve.

Jeffrey C. Sprecher

“From our earliest days, innovation has been at the heart of what we do, and as our markets and products continue to expand, based on our customers’ needs, so too does the way we share information and together make advances in the area of sustainability,” said Intercontinental Exchange Chairman and CEO Jeffrey Sprecher. “Increased diversity of thought, strong governance, and support for the communities we serve around the world provide the foundation for what it means to be a responsible company,” Sprecher added.

As a leader in global environmental markets, ICE promotes opportunities for sustainable finance, including over $3.5 billion in listed sustainable ETFs and ESG-based indices like the ICE BofAML Green Bond Index.
ICE has increased the number of women on its Board of Directors and continues to focus on issues related to gender pay equity and increasing diversity across the company.
From helping increase financial literacy, to supporting employee and customer driven initiatives, ICE is committed to giving back to communities around the world.
A publicly-traded, Fortune 500 company and the owner of the New York Stock Exchange, ICE’s strong corporate governance and financial expertise is critical in operating tightly regulated exchanges and clearing houses around the world.
Stacey Cunningham

“As the home of over 2,300 publicly-traded companies, the New York Stock Exchange is uniquely positioned to connect the world’s leading thinkers as a community around critical ESG issues,” said NYSE President Stacey Cunningham. “Leaders of these companies learn a lot from their peers, and we’ve been pleased to provide educational resources and foster dialogue to help those who list here chart their own corporate citizenship path.”

The 2019 Intercontinental Exchange Corporate Responsibility Report is available on the company’s website at: https://www.intercontinentalexchange.com/about/corporate-responsibility.

About Intercontinental Exchange

Intercontinental Exchange Launches Marine Fuel Contracts in Advance of IMO 2020

February 25, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: clearing houses, Global Exchanges, ICE, ICE Brent, ice data services, IMO, Intercontinental exchange, International Maritime Organization, Marine Fuel Contracts, NYSE, risks

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today launched new Marine Fuel contracts in advance of the implementation of the 0.5% sulphur cap by the International Maritime Organization (IMO) in 2020.

ICE’s new futures contracts will settle against the S&P Global Platts physical Marine Fuel 0.5% assessments. The IMO regulation limits sulphur emissions from shipping bunker fuel from January 2020, requiring ships to use fuel oil with a maximum sulphur content of 0.5% (mass/mass) outside designated emission control areas.

The new contracts are as follows:

Fuel Oil Outright – Marine Fuel 0.5% FOB Rotterdam Barges (Platts) Future
Fuel Oil Outright – Marine Fuel 0.5% FOB Singapore (Platts) Future
Fuel Oil Diff – Marine Fuel 0.5% FOB Rotterdam Barges (Platts) vs 3.5% FOB Rotterdam Barges (Platts) Future
Fuel Oil Diff – Marine Fuel 0.5% FOB Singapore (Platts) Future vs 380 CST Singapore (Platts) Future
Fuel Oil Outright – Marine Fuel 0.5% FOB USGC Barges (Platts) Future
Fuel Oil Diff – Marine Fuel 0.5% FOB USGC Barges (Platts) vs USGC HSFO (Platts) Future

“We are launching these contracts in response to demand from our customers for Marine Fuel 0.5% specific derivative contracts. The contracts will allow participants around the world to manage changing shipping and refining economics, hedge forward, and restructure positions,” said Jeff Barbuto, ICE’s Global Head of Oil Sales and Business Development. “The contracts will operate alongside ICE’s benchmark Low Sulphur Gasoil, fuel oil and LNG markets, providing customers with a range of hedging tools to assist with the transition to the new regulations in 2020.”

ICE Low Sulphur Gasoil is the key global refined oil benchmark. Gasoil futures and options volume grew 10% in 2018 versus 2017, while Open Interest reached a record 1.15 million lots in September 2018. The contract has become the go-to price marker for the middle part of the refined barrel and the world’s leading middle distillate benchmark. ICE Low Sulphur Gasoil is an important and efficient hedging and trading mechanism, providing market participants with access to a range of products in a single contract and plays the same role for middle distillate oil that ICE Brent Crude plays for the crude oil market.

Half of the world’s crude and refined oil futures are traded on ICE’s markets, including futures and options on the global benchmark ICE Brent, the U.S.benchmark West Texas Intermediate (WTI) crude, ICE Permian WTI, the Asian benchmark Platts Dubai crude, Heating Oil and RBOB Gasoline, as well as more than 500 additional grades and oil products.

ICE is home to a global natural gas complex. This includes ICE JKM LNG (Platts), one of the fastest growing natural gas benchmarks and the most liquid Asian natural gas benchmark. ICE offers the broadest range of natural gas benchmarks across the US, Canada, Europe and Asia.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company raises more capital than any other exchange in the world, driving economic growth and transforming markets.

Intercontinental Exchange and the NYSE Launch ‘Insights’

February 16, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: entrepreneurs, GoDaddy Inc, Intercontinental exchange, New York Stock Exchange, NYSE Launch, NYSE Trading Floor, Philip Krim, The ICE

New thought leadership platform encourages followers to watch, listen and explore how entrepreneurs and innovators are transforming industries and shaping the future.

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, and the New York Stock Exchange (NYSE), a wholly owned subsidiary of ICE, today launched the new Insights content platform, an online gateway to inspiring conversations with top global business leaders, entrepreneurs and innovators, featuring:

SLICE, a new weekly series showcasing conversations with entrepreneurs and CEOs that will air on Cheddar Business, the post-cable network that broadcasts daily on the NYSE Trading Floor.
WALK THIS WAY, a new 10-part series where CEOs take you inside their headquarters to show viewers how they are building workspaces of the future.
RADIATE, the micro-lesson video platform founded by NYSE Executive Vice Chairman Betty Liu in 2016 to empower emerging leaders with expert advice. RADIATE officially relaunches in a subscription-free format.
INSIDE THE ICE HOUSE, a podcast that features conversations with leaders, entrepreneurs and visionaries who walk through the doors of the NYSE with a dream of building businesses and changing the world.
Betty Liu

“ICE and the NYSE are the home to the world’s greatest business leaders and innovators,” said NYSE Executive Vice Chairman Betty Liu. “Through our new Insights content platform, we want to share their incredible stories and bring viewers behind the scenes of our global community. Our mission is to inspire budding entrepreneurs and next-generation leaders as they change the world.”

Insights builds upon the NYSE’s existing visibility platform, which includes more than 35 in-house media outlets and social media channels reaching millions of followers.

Content that Informs and Inspires

Launching today, SLICE is a new interview show on Cheddar Business that will air Wednesday mornings between 8-10 AM ET, coinciding with the NYSE Opening Bell. Branded “SLICE” because of the collaboration between ICE and Cheddar, the new series will unearth what entrepreneurs and disruptive brands are doing to change our way of life and our future. In early episodes, Liu will be joined by guests such as General Motors Company Chairman and CEO, Mary Barra, designer Rebecca Minkoff, and Porsche Cars North America, Inc. President and CEO, Klaus Zellmer, among others.

Cheddar Business, which broadcasts live every day from the NYSE Trading Floor, reaches more than 10 million viewers and is available on Sling TV, DirecTV NOW, Hulu, YouTube TV, Sony PlayStation Vue, Snapchat, fuboTV, Philo, Amazon, Twitch, Twitter, 60 percent of smart TVs in the U.S., and Facebook.

Launching on February 21, WALK THIS WAY is a digital-first program that shadows CEOs inside their headquarters, offering a first-person view of how they are building dynamic workspaces. The 10-episode series will be distributed to viewers via the NYSE’s network of more than three million followers on Twitter, Instagram, Facebook and LinkedIn. The new program will follow business leaders such as GoDaddy Inc. CEO, Scott Wagner and Casper CEO, Philip Krim.

Insights will also serve as the new home to RADIATE, the company Liu founded in 2016 to empower emerging leaders with expert advice. RADIATE provides a library of more than 2,000 short-length career development video lessons taught by over 100 global CEOs and thought leaders.

Rounding out the conversations is INSIDE THE ICE HOUSE, the popular and thought-provoking podcast from Intercontinental Exchange, which has posted over 80 long-form episodes in its first full year of production.

For more information on the New York Stock Exchange, click here.

Intercontinental Exchange Announces Further Record Trading in TTF Natural Gas and JKM LNG (PLATTS) Contracts

February 8, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: energy markets, Intercontinental exchange, JKM LNG, JKM LNG (Platts) contracts, natural gas benchmarks, record trading, The ICE, TTF Natural Gas, Utility Markets

Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced further record trading in TTF Natural Gas and JKM LNG (Platts) contracts.

On January 30, 2019, TTF futures hit an open interest (OI) record of 1.04m lots. TTF futures and options combined achieved monthly volume of 952.4 TWh in January. Average daily volume (ADV) and OI in TTF futures and options combined are up 103% and 64%, respectively, in January 2019, versus January 2018.

JKM LNG (Platts) futures traded a record 25,605 lots in January, an increase of 22% compared to the previous record of 20,916 lots set in November 2018. JKM LNG (Platts) hit an OI record on February 4, 2019, of 26,928 lots. ADV and OI in JKM LNG (Platts) are up 176% and 123%, respectively, in January 2019, versus January 2018. ICE reports OI net in line with standard industry practice.

As announced in Circular 19/012, ICE will launch JKM LNG (Platts) Average Price Options on March 4, 2019, subject to the satisfactory conclusion of applicable regulatory processes.

“Europe’s vast energy infrastructure and geographical location allow it to provide a unique role as a balancing market for LNG. TTF and NBP are the two most liquid European natural gas benchmarks and, with its continued record trading activity, TTF is transforming into a global natural gas benchmark,” said Gordon Bennett, Managing Director, Utility Markets at Intercontinental Exchange. “JKM LNG (Platts) is one of the fastest growing natural gas benchmarks and has established itself as the most liquid Asian natural gas benchmark”.

As home to the broadest range of natural gas benchmarks, ICE plays a leading role in providing access to price transparency and data to allow the market to navigate and risk manage the globalization of natural gas and the ongoing transition in energy markets.

NYSE Parent, Intercontinental Exchange (ICE) Reports Strong Revenue Growth in 2018, Consolidated Revenue at $4.9 Bn, an Increase of 14.1% Y-o-Y

February 8, 2019 by Karthik Subramanian Leave a Comment Filed Under: Industry News Tagged: brokerage, Brokers, Capital Markets, financial services, Intercontinental exchange, investment, Jeffrey Sprecher, NYSE, trading platform

Intercontinental Exchange (ICE), the parent of the New York Stock Exchange (NYSE) has released its financial results for the final quarter ending December 2018 and for the full year 2018.

Overall, the exchange reported solid growth during the year marking the 13th consecutive year to deliver record revenues. For the fourth quarter ending December 2018, the consolidated net revenue was $1.31 billion, representing an increase of 14 per cent year-on-year.

During the quarter, the revenue from trading and clearing contributed $657 million, representing a jump of 27 per cent year-over-year. The fixed income and credit revenue was $83 million, up by 152 per cent from $32 million in the fourth quarter in 2017. The cash and equity options revenue during the fourth quarter also increased by 35 per cent year-on-year to $93 million from $70 million in the fourth quarter of 2017.

Taking a look at the full year performance, the total consolidated net revenues during the period increased to $4.9 billion, a growth of 7.4 per cent year-on-year. Breaking up the revenue, trading and clearing segment contributed $1.3 billion in revenue, an increase of 14.1 per cent year-on-year. The fixed income and credit revenue came in at $240 million, increased by an impressive 72 per cent from $139 million. Cash equities and equity options revenue witnessed an increase of 14 per cent to $327 million from $287 million in 2017.

Also, the company generated record cash flow in 2018, allowing it to return shareholders approximately $1.8 billion in the capital, highest ever in the company’s history.

Commenting on the quarterly performance, ICE Chairman & Chief Executive Officer, Jeffrey Sprecher said:

“2018 marked our 13th consecutive year of record revenues – a track record directly attributable to customer demand for our risk management solutions and the investments we’ve made to enhance our technology, expand our content and broaden our distribution.”

“As we look to 2019, we remain focused on bringing mission-critical solutions to our customers and delivering value to our stockholders.”

The company also provided guidance for the first quarter of 2019 with data revenue estimated between $540 million and $545 million and for the full year, it is estimated between $2.19 billion and $2.24 billion.

Intercontinental Exchange Announces Record Trading Volume for ICE Permian WTI Crude Oil Futures

February 4, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: clearing houses, daily trading volume, exchanges, ICE block design, ice data services, ICE Permian, Intercontinental exchange, New York Stock Exchange, Record Trading Volume, WTI Crude Oil

Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced a daily trading volume record for ICE Permian WTI Crude Oil Futures (HOU) of 1,953 contracts yesterday. That compares to a previous record of 1,304 lots reached on January 7, 2019.

Open interest for the contract rose yesterday to 2,255 contracts, an increase of 625 lots from the day before, and near the recent high of 2,625 on January 18, 2019. ICE also recently completed its largest delivery for the January 2019 contract of 660,000 barrels of oil. The first expiry, for the December 2018 contract, resulted in 200,000 barrels delivered.

“With the enhancements we recently announced including new delivery terminals, a new storage futures contract and additional crude quality data, we’re pleased to see increasing commercial interest for our futures contract,” said Jeff Barbuto, ICE’s Global Head of Oil Sales and Business Development. “While the increase in volume is great to see, the consistent growth in open interest, and the success we’ve seen with the first two deliveries, is the best indicator that there is real commercial interest in this contract.”

ICE is home to the world’s global crude and refined oil markets. Around half of the world’s oil futures are traded on ICE’s markets, including futures and options on the global benchmark ICE Brent crude, the U.S. benchmark West Texas Intermediate (WTI) crude, the Middle Eastern and Asian benchmark ICE Platts Dubai crude oil, Gasoil, Heating Oil and RBOB Gasoline, as well as hundreds of additional grades and oil products.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 and Fortune Future 50 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company raises more capital than any other exchange in the world, driving economic growth and transforming markets.

ICE Reports 20% Growth in Q4′ 2018 Average Daily Volume

January 6, 2019 by Ricardo Esteves Leave a Comment Filed Under: Exchange News, Industry News Tagged: ADV, average daily trading, Ben Jackson, Equity Options, ICE Reports, Intercontinental exchange, open interest

Intercontinental Exchange has reported average daily trading growth by 20% year-on-year in the fourth quarter of 2018, including record futures ADV with open interest up by 10% YoY.

The leading operator of global exchanges and clearing houses and provider of data and listings services is celebrating a number of records broken in 2018, which include 2018 gasoil ADV up by 10% year on year and 2018 TTF gas ADV up by 23% YoY.

Ben Jackson, President of Intercontinental Exchange, commented:

“We are pleased to report another record year for ICE volumes in 2018. Fourth quarter volumes were up 20% versus the prior year period, and open interest continues to build increasing 10% versus the fourth quarter of 2017. We saw new records across our commodity and financial markets reflecting how, in times of heightened volatility and uncertainty, market participants turn to our liquid and diverse markets to manage and hedge their risk.”

The report includes the following highlights:

Record 2018 and 4Q18 emissions ADV up 72% y/y and 72% y/y, respectively
Record 2018 WTI ADV up 5% y/y
Record 2018 interest rate ADV up 14% y/y
Record 2018 and 4Q18 Sterling ADV up 9% y/y and 29% y/y, respectively
Record 2018 and 4Q18 Gilt ADV up 27% y/y and 41% y/y, respectively
Record 4Q18 and December MSCI ADV up 56% y/y and 35% y/y, respectively
Record 2018 ags & metals ADV up 14% y/y
4Q18 NYSE cash equities ADV up 45% y/y; December ADV up 59% y/y
4Q18 equity options ADV up 44% y/y; December ADV up 46% y/y
4Q18 CDS gross notional cleared up 63% y/y

Most recently, the company made the news for its U.S.-based credit default swap (CDS) clearing house ICE Clear Credit which has been granted Recognised Clearing House status from the Monetary Authority of Singapore with effect from December 7, 2018.

In September, ICE announced ICE Data Services started to offer an on-demand tick data and analytics service, utilizing OneMarketData’s OneTick platform. This service will be provided over the ICE Consolidated Feed, which delivers aggregated real-time data and content from over 600 global sources. ICE Data Services will be the exclusive third-party distributor for this hosted service.

Intercontinental Exchange Announces Launch of Marine Fuel Contracts in Advance of IMO 2020

December 18, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: economy, ICE, ICE Brent, IMO 2020, Intercontinental exchange, marine fuel, Marine Fuel Contracts, market, market participants

LONDON & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced plans to launch new Marine Fuel contracts in advance of the implementation of the 0.5% sulphur cap by the International Maritime Organization (IMO) in 2020. The new contracts are expected to launch on February 4, 2019, subject to completion of relevant regulatory processes.

ICE’s new futures contracts will settle against S&P Global Platts physical marine fuel 0.5% assessments. The contracts are as follows:

Fuel Oil Outright – Marine Fuel 0.5% FOB Rotterdam Barges (Platts) Future
Fuel Oil Outright – Marine Fuel 0.5% FOB Singapore (Platts) Future
Fuel Oil Diff – Marine Fuel 0.5% FOB Rotterdam Barges (Platts) vs 3.5% FOB Rotterdam Barges (Platts) Future
Fuel Oil Diff – Marine Fuel 0.5% FOB Singapore (Platts) Future vs 380 CST Singapore (Platts) Future
Fuel Oil Outright – Marine Fuel 0.5% FOB USGC Barges (Platts) Future
Fuel Oil Diff – Marine Fuel 0.5% FOB USGC Barges (Platts) vs USGC HSFO (Platts) Future

The new contracts have been developed in response to significant market demand in advance of the IMO regulation limiting sulphur emissions from shipping bunker fuel from January 2020. The new regulation requires that ships will only be able to use fuel oil with a maximum sulphur content of 0.5% (mass/mass) outside designated emission control areas.

“Our customers have expressed a strong desire for Marine Fuel 0.5% specific derivative contracts and our new contracts will allow market participants to hedge forward positions in an industry which today consumes more than three million barrels per day of high sulphur fuel oil,” said Jeff Barbuto, Vice President of Oil Markets at ICE. “The contracts will operate alongside ICE’s benchmark Low Sulphur Gasoil futures, fuel oil and LNG markets providing customers with a range of hedging tools to assist with the transition to the new regulations in 2020,” Barbuto added.

ICE Low Sulphur Gasoil is the key refined oil benchmark in Europe and Asia. Gasoil futures and options grew 11% in the period January to November 2018 versus the same period in 2017. The contract has become the go-to price marker for the middle part of the refined barrel and the world’s leading middle distillate benchmark for the oil market. ICE Low Sulphur Gasoil is an important and efficient hedging and trading mechanism, providing market participants with access to a range of products in a single contract and plays the same role for middle distillate oil that ICE Brent Crude plays for the crude oil market.

ICE is home to a global natural gas complex, which includes ICE JKM LNG (Platts), which has become the benchmark for natural gas in the Asian region. ICE offers the broadest range of natural gas benchmarks across the US, Canada, Europe and Asia. Half of the world’s oil and refined futures are traded on ICE’s markets, including futures and options on the global benchmark ICE Brent, the U.S. benchmark West Texas Intermediate (WTI) crude, ICE Permian WTI Futures , the Asian benchmark Platts Dubai crude, Heating Oil and RBOB Gasoline, as well as more than 500 additional grades and oil products.

Intercontinental Exchange Launches Eight New Regional MSCI Futures Contracts

ICE Benchmark Administration Successfully Completes the Transition of LIBOR Panel Banks to the Waterfall Methodology

Intercontinental Exchange Releases 2019 Corporate Responsibility Report

Intercontinental Exchange Launches Marine Fuel Contracts in Advance of IMO 2020

Intercontinental Exchange and the NYSE Launch ‘Insights’

Intercontinental Exchange Announces Further Record Trading in TTF Natural Gas and JKM LNG (PLATTS) Contracts

NYSE Parent, Intercontinental Exchange (ICE) Reports Strong Revenue Growth in 2018, Consolidated Revenue at $4.9 Bn, an Increase of 14.1% Y-o-Y

Intercontinental Exchange Announces Record Trading Volume for ICE Permian WTI Crude Oil Futures

ICE Reports 20% Growth in Q4′ 2018 Average Daily Volume

Intercontinental Exchange Announces Launch of Marine Fuel Contracts in Advance of IMO 2020

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