📋 Tender Overview
Intercontinental Exchange Inc a leading operator of global exchanges and clearing houses and provider of mortgage technology data and listings services today announced that it plans to launch ICE Futures Abu Dhabi IFAD and the worlds first futures contracts based on Murban crude oil on March 29 2021 subject to the completion of regulatory approvals.In November 2019 ICE announced its plans to launch IFAD with the Abu Dhabi National Oil Company ADNOC - the producer of Murban crude - and nine of the worlds largest energy traders partnering with ICE on the launch.ICE Murban Crude Oil Futures will be a physically delivered contract with delivery at Fujairah in the United Arab Emirates UAE on a free on board FOB basis. ICE Murban Futures will be complemented with a range of cash settled derivatives. These include outright differential and crack differentials against Brent WTI Gasoil and Naphtha among others as well as inter-commodity spreads which are planned to launch alongside Murban futures.Contracts traded at IFAD will be cleared at ICE Clear Europe a leading energy clearing house and will clear alongside ICEs leading global energy futures platform covering oil natural gas and the environmental complex allowing customers to benefit from associated margin offsets and delivering meaningful capital efficiencies.
