132,450 contracts traded in total on ICE Futures Abu Dhabi since launch
Liquidity out to January 2022 contract
Record Open Interest of more than 42,000 contracts
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that a record 18,848 ICE Murban Crude Oil Futures contracts traded on ICE Futures Abu Dhabi (“IFAD”) on April 20, marking its highest volume day since the contracts launched on March 29. Alongside ICE Murban Crude Oil Futures, IFAD launched trading in 18 Murban-related cash settled derivatives and inter-commodity spreads, offering the market the broadest range of ways to trade and hedge Murban crude oil.
A total of 132,450 contracts have traded on IFAD since the launch, equivalent to 132 million barrels of Murban Crude oil. This includes 125,890 ICE Murban Crude Oil futures contracts and 6,560 Murban-related cash settled derivatives, with 49 firms having traded on IFAD since the launch.
“Although we are only in week four, we are seeing week-on-week growth in traded volumes and open interest in both the prompt and deferred months, with activity out to January 2022. New daily volume records are being set each week, and there is an increasing number of participants trading Murban,” said Jamal Oulhadj, President of ICE Futures Abu Dhabi. “This is a very encouraging start and really reflects how the energy industry is utilizing its new ability to hedge forward price risk for Murban crude with the physical and financial sides of the market coming together to contribute to the price formation process of Murban crude oil.”
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 27 Exchange Members and 20 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@ice.com or to arrange education sessions on IFAD markets please contact firstname.lastname@example.org.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
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Source: Intercontinental Exchange
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