Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today announced that operations at ICE Futures Singapore and ICE Clear Singapore are planned to commence on March 17, 2015.
Following the acquisition of the Singapore Mercantile Exchange and Singapore Mercantile Exchange Clearing Corporation in November 2013, ICE retained both licenses to operate as an approved exchange and an approved clearing house respectively. The listed and cleared products at ICE Futures Singapore and ICE Clear Singapore will be announced shortly, subject to final regulatory approval from the Monetary Authority of Singapore (MAS). In addition, leveraging ICE’s proven repository technology and to further support regional market participants, ICE Trade Vault, LLC has submitted a foreign trade repository application to the financial regulator of Singapore.
The Asian hub for ICE will be co-headed by Jennifer Ilkiw, ICE Vice President for the Asia Pacific region and Lucas Schmeddes, President and Chief Operating Officer of ICE Futures Singapore and ICE Clear Singapore.
ICE has had a local presence in Singapore since 2000 as a result of its global oil business. Today, Singapore is an increasingly important commercial and physical hub for Asia’s financial and commodity markets. Through this base of operations in Asia, ICE will offer further global and regional products for hedging and trading. In addition, the Singapore launch will expand ICE’s network of exchanges and clearing houses that serve the trading, data and risk management requirements of global market participants.
