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ICE Announces That A Record 14,419 Murban Crude Oil Futures Contracts Traded On April 7

Date 08/04/2021

  • 38,712 contracts traded in total on ICE Futures Abu Dhabi since launch
  • 38 firms traded on IFAD since launch

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that a record 14,419 ICE Murban Crude Oil Futures contracts traded on ICE Futures Abu Dhabi (“IFAD”) on April 7, 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 38,712 contracts have traded on IFAD since the launch. This includes 34,202 ICE Murban Crude Oil futures contracts and 4,510 Murban-related cash settled derivatives, with 38 firms having traded on IFAD since the launch.

“The scale of the response from the market to the launch of Murban futures is both encouraging and validating,” said Jamal Oulhadj, President of ICE Futures Abu Dhabi. “The energy industry needed the ability to hedge forward price risk for Murban crude and what we are seeing is participants from across both the physical and financial sides of the market coming together to form two-way pricing every day and 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 26 Exchange Members and 19 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 education@ice.com.