Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, November 12 2019 - 00:49
AsiaNet
Intercontinental Exchange Partners With ADNOC and Some of the World's Largest Energy Traders in the 2020 Launch of ICE Futures Abu Dhabi, a New Futures Exchange
LONDON, November 11, 2019 /PRNewswire-AsiaNet/ --

Intercontinental Exchange, Inc. (NYSE: ICE), a leading operator of global 
exchanges and clearing houses and provider of data and listings services, today 
announced that Abu Dhabi National Oil Company (ADNOC) and nine of the world's 
largest energy traders are partnering with ICE on the launch of ICE Futures Abu 
Dhabi, a new exchange in Abu Dhabi Global Market that will host the world's 
first Murban crude oil futures contracts.

The nine companies supporting the launch of ICE Futures Abu Dhabi are BP, GS 
Caltex, INPEX, JXTG, PetroChina, PTT, Shell, TOTSA (Total) and Vitol. 

The news follows the announcement from ICE earlier today regarding the planned 
launch of ICE Futures Abu Dhabi and ICE Murban futures in the first half of 
2020, subject to relevant regulatory approvals. 

"Partnering with ADNOC and nine of the world's largest physical traders of 
Murban crude to launch ICE Futures Abu Dhabi is a significant endorsement and 
strong signal of the potential for Murban to become a new global crude 
benchmark," said Jeffrey C. Sprecher, Chairman and Chief Executive Officer, 
Intercontinental Exchange. 

"Intercontinental Exchange is one of the world's most recognized and leading 
operators of global exchanges and clearing houses and ADNOC is pleased to be a 
part of this significant new venture which will strengthen Abu Dhabi's position 
as a global energy hub," said His Excellency Dr. Sultan Ahmed Al Jaber, UAE 
Minister of State and ADNOC Group CEO. "We are particularly pleased that nine 
leading global energy companies, all of which are our partners and customers, 
have decided to join us in this initiative. Having a new, independent exchange 
in Abu Dhabi will not only benefit the UAE, but also physical and financial oil 
traders around the world."  

ICE Murban Futures will be a physically delivered contract with delivery at 
Fujairah in the United Arab Emirates on a free on board (FOB) basis. Murban 
Crude is a light sweet crude produced by ADNOC. ADNOC produces roughly three 
million barrels of oil per day, of which approximately 1.7 million barrels per 
day is Murban crude. 

About Intercontinental Exchange 

Intercontinental Exchange 
(https://www.intercontinentalexchange.com/about)(NYSE: ICE) is a Fortune 500 
company formed in the year 2000 to modernize markets. ICE serves customers by 
operating the exchanges (https://www.theice.com/trade), clearing houses 
(https://www.theice.com/clearing) and information services they rely upon to 
invest, trade and manage risk across global financial and commodity markets. A 
leader in market data, ICE Data Services 
(https://www.theice.com/market-data)serves the information and connectivity 
needs across virtually all asset classes. As the parent company of the New York 
Stock Exchange (https://www.nyse.com/index), the company is the premier venue 
for raising capital in the world, driving economic growth and transforming 
markets. 

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, 
ICE block design, NYSE and New York Stock Exchange. Information regarding 
additional trademarks and intellectual property rights of Intercontinental 
Exchange, Inc. and/or its affiliates is located at 
http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents 
for certain products covered by the EU Packaged Retail and Insurance-based 
Investment Products Regulation can be accessed on the relevant exchange website 
under the heading "Key information Documents (KIDS)". 

Safe Harbor Statement under the Private Securities Litigation Reform Act of 
1995 -- Statements in this press release regarding ICE's business that are not 
historical facts are "forward-looking statements" that involve risks and 
uncertainties. For a discussion of additional risks and uncertainties, which 
could cause actual results to differ from those contained in the 
forward-looking statements, see ICE's Securities and Exchange Commission (SEC) 
filings, including, but not limited to, the risk factors in ICE's Annual Report 
on Form 10-K for the year ended December 31, 2018, as filed with the SEC on 
February 7, 2019. 

About ADNOC

ADNOC is one of the world's leading diversified energy and petrochemicals 
groups with a daily output of about 3 million barrels of oil and 10.5 billion 
cubic feet of natural gas. With 14 specialist subsidiary and joint venture 
companies, ADNOC is a primary catalyst for the UAE's growth and 
diversification. For further information: media@adnoc.ae. 

ICE-CORP 

Photo: https://mma.prnewswire.com/media/1026678/ICE_Abu_Dhabi.jpg

ICE Media Contact 
Rebecca Mitchell 
+44 7951 057351 
rebecca.mitchell@theice.com

ICE Investor Relations Contact: 
Warren Gardiner 
+1 770 835 0114 
warren.gardiner@theice.com 
investors@theice.com 

Source: Intercontinental Exchange, Inc.
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