Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, today announced that ICE Futures Abu Dhabi (“IFAD”), ICE’s new exchange in Abu Dhabi, has been recognized as an overseas investment exchange by the UK’s Financial Conduct Authority. This recognition ensures that UK-based traders can access IFAD markets and trading in ICE Murban Crude Oil Futures and 18 related cash settled derivatives and inter-commodity spreads launching on March 29, 2021.
Alongside the UK, investors from jurisdictions including Abu Dhabi Global Market, the United States, Singapore, Switzerland, the Netherlands, France, Norway, Australia, Japan and South Korea, are able to trade on IFAD. ICE Futures Abu Dhabi has published a list of the jurisdictions where it has obtained advice regarding permitting access to IFAD markets, which can be found here.
Contracts traded on IFAD will be cleared at ICE Clear Europe. The 26 approved Exchange Members, of which 19 are approved Clearing Members, are listed in full on IFAD’s Membership page here. Clearing members will stand behind all trades made through IFAD and cleared by ICE Clear Europe, whether it is for the account of a customer, member, or their own account. ICE is launching IFAD with the Abu Dhabi National Oil Company (ADNOC) and nine of the world’s largest energy traders including BP, ENEOS, GS Caltex, INPEX, PetroChina, PTT, Shell, TOTSA (Total) and Vitol.
For more information on how to clear or trade IFAD markets please contact: Membership-AbuDhabi@theice.com.